Seeking Alpha

Foundation Med files for secondary offering

  • Recent IPO Foundation Medicine (FMI files an S-1 for a $150M public offering of common stock.
  • Proceeds to be used to accelerate the growth of domestic operations, targeted growth of international operations, R&D, infrastructure build-out, funding of clinical trials and general corporate purposes.
  • 2013 revenues were $29M up 172% from 2012 and up >13x from 2011.
  • Operations burned $31M last year up 79% from the previous year.
  • Cash and equivalents were $124M at year end.
  • The firm's market cap is $1.1B.
  • 126 mutual funds have positions.
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