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Shares hit a new high Wednesday for Exact Sciences, which operates a laboratory at 145 E. Badger Road in the town of Madison, after the company said it will build a second lab on Madison's Southwest Side.

EXACT SCIENCES

Exact Sciences Corp. stock jumped as much as 5 percent during the day’s trading on Wednesday, after the Madison cancer test company announced it will build its second Cologuard processing lab on the Southwest Side at the former Spectrum Brands headquarters.

Exact shares hit a new high of $63.60 before closing at $60.51, up 1 cent from the day before.

Since the company released its third-quarter results after the markets closed on Oct. 30, Exact stock has risen $10.41, or 20.8 percent.

Exact reported a third-quarter loss of $26.9 million, down from $37.8 million for the 2016 third quarter, on revenue of $72.6 million, up from $28.1 million in revenue for the year-ago quarter.

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Judy Newman is a business reporter for the Wisconsin State Journal.