Foundation Medicine soars in debut, Evoke underwhelms

|About: Foundation Medicine, Inc. (FMI)|By:, SA News Editor

Foundation Medicine (FMI +79%) — which markets molecular information-enabled products to physicians and biopharma firms — opens at $31.50, well above its expected range of $14-16. Through June 30, the company had logged sales of $11.1M and incurred an operating loss of $17.1M.

Evoke Pharma (EVOK -5.8%) — which develops treatments for GI diseases — opens at $11.15, below its expected range of $12-14.