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IPO Darling Foundation Medicine Pulls Secondary -- Market Talk

DOW JONES & COMPANY, INC. 9:17 AM ET 04/16/14

Symbol Last Price Change
FMI 24.97up 0 (0%)
FEYE 48.83down 0 (0%)
CVT 32.88up 0 (0%)
QUOTES AS OF 04:00:00 PM ET 04/15/2014

9:17 EDT - Foundation Medicine(FMI) pulls its registration for a secondary "due to market conditions," which aren't as good as in September, when the diagnostic technologies company's shares popped 96% in their trading debut. A number of hot IPOs from 2012 and 2013 quickly re-upped with secondaries at significantly higher valuations in recent months, such as FireEye(FEYE) and Cvent(CVT) . That's gotten harder for the high-growth cohort. FMI closed at $24.71 yesterday, well above its $18 IPO price but 21% off its March 19 high. ([e-mail])

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