Last $23.67 USD
Change Today -2.63 / -10.00%
Volume 327.1K
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As of 8:10 PM 07/28/14 All times are local (Market data is delayed by at least 15 minutes).

foundation medicine inc (FMI) Snapshot

Open
$26.30
Previous Close
$26.30
Day High
$26.30
Day Low
$23.62
52 Week High
03/19/14 - $45.00
52 Week Low
09/24/13 - $18.00
Market Cap
667.3M
Average Volume 10 Days
243.8K
EPS TTM
$-7.77
Shares Outstanding
28.2M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
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Current Stock Chart for FOUNDATION MEDICINE INC (FMI)

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foundation medicine inc (FMI) Details

Foundation Medicine, Inc. provides various molecular information products in the United States. Its molecular information platform generates actionable genomic information about a patient’s individual disease, enabling physicians to optimize treatments in clinical practice, and enabling biopharmaceutical companies to develop targeted oncology therapies. The company offers clinical products, such as FoundationOne for solid tumors; and FoundationOne Heme, for blood-based cancers, or hematologic malignancies, including leukemia, lymphoma, and myeloma, as well as sarcomas and pediatric cancers. The company was founded in 2009 and is headquartered in Cambridge, Massachusetts.

186 Employees
Last Reported Date: 03/7/14
Founded in 2009

foundation medicine inc (FMI) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $403.9K
Chief Operating Officer
Total Annual Compensation: $336.8K
Chief Medical Officer
Total Annual Compensation: $342.5K
Chief Commercial Officer and Senior Vice Pres...
Total Annual Compensation: $330.0K
Senior Vice President and General Counsel
Total Annual Compensation: $178.5K
Compensation as of Fiscal Year 2013.

foundation medicine inc (FMI) Key Developments

Foundation Medicine, Inc. Partner with Patient Advocate Foundation to Provide Assistance to Patients with Cancer and Their Families Seeking Access to Targeted Therapies

Foundation Medicine, Inc. announced that it has partnered with Patient Advocate Foundation (PAF) on a national program to provide assistance to patients with cancer and their families seeking access to targeted therapies. The program, called FoundationOne(R) CareLine, offers personalised case management services to patients who are uninsured, underinsured or face other challenges that impact their access to care, and increases physicians' ability to act on FoundationOne results. Adoption of FoundationOne by academic and community-based oncologists supports the clinical utility required to improve health outcomes and quality of life for select groups of patients that can benefit from targeted treatment. However, it can sometimes be difficult for patients and their physicians to gain access to appropriate and potentially life-saving treatments. The FoundationOne CareLine is an expansion of a pilot effort between Foundation Medicine and PAF that supported patients from select large physician practices, and resulted in almost $400,000 in reimbursement for medical expenses secured for patients. Through the expanded program, clinical case managers will continue to provide comprehensive case management services to uninsured, underinsured and insured patients who are facing obstacles obtaining prescribed targeted therapies that are approved in an indication other than the patient's tumor type. Additional services include assistance navigating the reimbursement system to help cover costs associated with the FoundationOne test and ancillary treatment related costs, clinical trials education and screening and assistance for patients seeking access to investigational therapies under compassionate use.

National Cancer Institute, SWOG Cancer Research, Friends of Cancer Research, the Foundation for the National Institutes of Health and Foundation Medicine Announces Initiation of the Lung Cancer Master Protocol (Lung-MAP) Trial

A unique public-private collaboration among the National Cancer Institute, part of the National Institutes of Health, SWOG Cancer Research, Friends of Cancer Research, the Foundation for the National Institutes of Health (FNIH), five pharmaceutical companies (Amgen, Genentech, Pfizer, AstraZeneca, and AstraZeneca's global biologics R&D arm, MedImmune), and Foundation Medicine announced the initiation of the Lung Cancer Master Protocol (Lung-MAP) trial. Lung-MAP is a multi-drug, multi-arm, biomarker-driven clinical trial for patients with advanced squamous cell lung cancer. Squamous cell carcinoma represents about a quarter of all lung cancer diagnoses, but there are currently few treatment options beyond surgery for the disease. The trial will use genomic profiling to match patients to one of several different investigational treatments that are designed to target the genomic alterations found to be driving the growth of their cancer. This innovative approach to clinical testing should both improve access to promising drugs for patients and ease the significant recruitment and infrastructure burdens on researchers involved in traditional clinical trials. The trial will initially test five experimental drugs-four targeted therapies and an anti-PD-L1 immunotherapy. It is anticipated that between 500 and 1000 patients will be screened per year for over 200 cancer-related genes for genomic alterations. The results of this test will be used to assign each patient to the trial arm that is best matched to their tumor's genomic profile.

National Cancer Institute Collaborates with Foundation Medicine Announces Initiation of Lung Cancer Master Protocol (Lung-MAP) Trial

A unique public-private collaboration among the National Cancer Institute (NCI), and Foundation Medicine announced the initiation of the Lung Cancer Master Protocol (Lung-MAP) trial. Lung-MAP is a multi-drug, multi-arm, biomarker-driven clinical trial for patients with advanced squamous cell lung cancer. Squamous cell carcinoma represents about a quarter of all lung cancer diagnoses, but there are currently few treatment options beyond surgery for the disease. The trial will use genomic profiling to match patients to one of several different investigational treatments that are designed to target the genomic alterations found to be driving the growth of their cancer. This innovative approach to clinical testing should both improve access to promising drugs for patients and ease the significant recruitment and infrastructure burdens on researchers involved in traditional clinical trials. The trial will initially test five experimental drugs-four targeted therapies and an anti-PD-L1 immunotherapy. It is anticipated that between 500 and 1000 patients will be screened per year for over 200 cancer-related genes for genomic alterations. The results of this test will be used to assign each patient to the trial arm that is best matched to their tumor's genomic profile. Lung-MAP aims to establish a model of clinical testing that more efficiently meets the needs of both patients and drug developers. Whereas a typical clinical trial for a targeted therapy tests each potential patient for a single biomarker and enrolls only a portion-sometimes a very small portion-of patients tested, Lung-MAP will simultaneously test patients for many biomarkers including selected base substitutions and small in/dels, gene fusions, and amplifications in order to assess compatibility with several different experimental treatments. All patients tested will then be enrolled into one of Lung-MAP's five trial arms. Lung-MAP will make it easier for patients and researchers to find one another. It will also be more flexible than traditional clinical trial models. Where typical clinical trials require the development of new protocols for each new drug tested, Lung-MAP uses a single 'master protocol,' which can be amended as needed as drugs enter and exit the trial, preserving infrastructure and patient outreach efforts. The trial will be conducted at over 200 medical centers by NCI's NCTN, led by SWOG, and partly funded by NCI through its Cancer Therapy Evaluation Program. Significant additional funding will be provided by the participating companies as part of a partnership managed by FNIH that also involves the Food and Drug Administration (FDA), Friends of Cancer Research, and other patient advocacy organizations. The trial infrastructure is capable of testing as many as five to seven additional drugs over the next 5 years, and will cost up to $160 million.

 

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