Biotech Values

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FMI $150M raise... IPO lockup expires Mon 3-24, S-1 filed on 3-20 >

S-1
http://www.sec.gov/Archives/edgar/data/1488613/000119312514108289/d688345ds1.htm

Foundation Medicine seeks up to $150M to keep its cancer Dx growth engine running

http://www.fiercediagnostics.com/story/foundation-medicine-seeks-150m-keep-its-cancer-dx-growth-engine-running/2014-03-23#ixzz2wqDadB4s

Cancer diagnostics wunderkind Foundation Medicine ($FMI) has revealed plans to raise as much as $150 million in a secondary offering to fuel domestic and international expansion and the development of new products to keep the growth engine running. This bold move follows the company's success in raising a net $111 million from an IPO just last fall.

For the full year, Foundation said its FoundationOne platform reached the 9,000-test mark, up from just 1,750 tests in 2012. In December 2013, Foundation Medicine formally launched FoundationOne Heme, a test for various blood-based cancers that will help drive more business and revenue in the months ahead.

These financial and business milestones show how far Foundation Medicine has come, and how far it has yet to go. And they form the basis behind plans to seek up to $150 million in a new offering. The company will use the net proceeds to propel expanded growth both domestically and internationally, according to its March 20, 2014, S-1 filing. Also, the funding infusion will help support new research and development investment for both existing and new products. Foundation Medicine said it would use the cash to back ongoing and new clinical trials and for general working capital, as well.