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Medicare to cover Foundation Medicine's NGS genomic profiling assay across all solid tumors

Mar. 19, 2018 6:58 AM ETFoundation Medicine, Inc. (FMI) StockBy: Douglas W. House, SA News Editor
  • Foundation Medicine (NASDAQ:FMI) announces that the U.S. Centers for Medicare & Medicaid Services (CMS) has OK'd reimbursement for its FoundationOne CDx comprehensive next-generation sequencing (NGS) genomic profiling assay for all solid tumors incorporating a broad range of companion diagnostics, the only test to meet the requirements for coverage.
  • CEO Troy Cox says, “We applaud CMS for issuing this final National Coverage Determination that significantly expands coverage beyond the preliminary draft policy. Most notably, the NCD, as it applies to FoundationOne CDx, will provide coverage for eligible patients across all solid tumors. The final NCD will significantly improve access and coverage for Medicare beneficiaries to comprehensive genomic profiling and biomarker-driven treatments. We look forward to commercializing FoundationOne CDx by the end of March, providing the oncology community with the only FDA-approved broad assay for all solid tumors.”
  • Shares are up 1% premarket on light volume.

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