Foundation Medicine Inc (FMI) Releases Earnings Results, Beats Expectations By $0.22 EPS

Foundation Medicine Inc (FMI) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $-0.50 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.22. Analysts had a consensus of $-0.72. The company posted revenue of $30.40 million in the period, compared to analysts expectations of $26.04 million. The company’s revenue was up 57.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.59 EPS.

Foundation Medicine Inc opened for trading at $15.8 and hit $16.25 on the upside on Monday, eventually ending the session at $16.24, with a gain of 1.82% or 0.29 points. The heightened volatility saw the trading volume jump to 1,21,069 shares. Company has a market cap of $561 M.

In a different news, on Apr 5, 2016, Steven J. Kafka (President & COO) sold 124 shares at $18.08 per share price. According to the SEC, on Apr 5, 2016, Vincent A. Miller (Chief Medical Officer) sold 356 shares at $18.08 per share price. On Mar 3, 2016, David Daly (Chief Commercial Officer) sold 701 shares at $15.14 per share price, according to the Form-4 filing with the securities and exchange commission.

Foundation Medicine Inc. is a molecular information company. The Company sells products that are enabled by its molecular information platform to physicians and biopharmaceutical companies. Its platform includes methods and algorithms for analyzing specimens across various types of cancer and for incorporating that information. Its products provide genomic information about each patient’s individual cancer enabling physicians to optimize treatments in clinical practice and biopharmaceutical companies to develop targeted oncology therapies. Its clinical products FoundationOne for solid tumors and FoundationOne Heme for blood-based cancers or hematologic malignancies including leukemia lymphoma myeloma and various sarcomas and pediatric cancers are available comprehensive genomic profiles designed for use in the routine care of patients with cancer. Its brands also include Once. And for All and The Molecular Information Company.

Foundation Medicine Inc

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