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April 4, 2014
08:48 EDTFMIFoundation Medicine data to have positive effect on reimbursement, says Wedbush
After clinical data on gene fusion detection indicated that such detection led to clinical action in about 15% of patients, Wedbush thinks the 15% level will be more than enough for large payors to recognize the importance of deep tumor profiling in some patients. The firm thinks the recent increase in reimbursement rates for BRCA pricing is positive for long-term FoundationOne reimbursement. Wedbush keeps a $50 price target and Outperform rating on Foundation Medicine.
News For FMI From The Last 14 Days
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February 25, 2015
10:01 EDTFMIOn The Fly: Analyst Downgrade Summary
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09:23 EDTFMIFoundation Medicine downgraded at Wedbush
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07:55 EDTFMIFoundation Medicine price target raised to $60-$65 from $55-$60 at Wells Fargo
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07:18 EDTFMIG Corp to hold annual meeting
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06:56 EDTFMIFoundation Medicine downgraded to Neutral from Outperform at Wedbush
February 24, 2015
16:03 EDTFMIFoundation Medicine sees FY15 revenue $105M-$115M, consensus $108.47M
The company expects to report between 43,000 and 47,000 clinical tests in 2015. The company expects operating expenses in the range of $128M-$138M. The company expects to launch a cell-free DNA test in 2015.
16:02 EDTFMIFoundation Medicine reports Q4 EPS (47c), consensus (51c)
Reports Q4 revenue $18.7M, consensus $18.05M.
February 23, 2015
06:31 EDTFMIFoundation Medicine and H3 Biomedicine announce collaboration
Foundation Medicine announced a multi-year collaboration for the discovery and development of precision medicines in oncology. The collaboration marries Foundation Medicine’s comprehensive genomic knowledgebase of more than 35,000 genomic profiles, FoundationCORE, with H3 Biomedicine’s drug discovery engine and computational biology platform. The approach aims to identify potential drug targets based on the unique genomic dependencies of individual cancers, rapidly accelerate clinical development, and lead to the commercialization of new, safe and effective precision medicines for individuals living with cancer. Under the terms of the agreement, H3 Biomedicine will pay Foundation Medicine a technology access fee for identification of target concepts arising from FoundationCORE and success milestones for selection, validation, clinical progression, and commercialization of products developed from the program. In addition, Foundation Medicine is eligible to receive royalties on sales of any products resulting from the collaboration.
February 19, 2015
09:09 EDTFMILeerink's life science tools analyst holds an analyst/industry conference call
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