Tomahawk, WI 03/14/2014 (Basicsmedia) – Shares of Foundation Medicine Inc (NASDAQ:FMI) moved up by another 5.54% in yesterday trading session, after the company announced its fourth quarter and annual results for the financial year 2013. The stock has been moving up throughout the last week. The company is among the very few commercial stage biotech companies focusing on Oncology treatments. Its therapeutic molecular information platform includes algorithmic analyzers of cancer tissues, smart information aggregators, and concise reporting capabilities for optimization on a clinician’s patient specific response.

Foundation Medicine Inc (NASDAQ:FMI) floated it’s IPO on September 25, 2013 and the initial lockup phase of its shares will expire later this month on March 24.

New Product Launch Boosts Revenues and Earnings

The company achieved a year over year increase in both the fourth quarterly and annual revenues for 2013. In the fourth quarter of FY 2013 its revenues were $9.7 million against quarterly revenues of $8.2 million in Q4, 2012. The annual revenues grew to $29.0 million from $10.6 million for the prior year. The growth in revenues largely trickled down from the launch of FoundationOne Heme, Foundation Medicine Inc (NASDAQ:FMI)’s latest commercial launch. Operating expenses other than share-based compensation grew to $51.8 million in FY2013 from $25.4 million in FY2012. The quarterly value for net loss per share, declined by 89.65% to $0.48; it was $4.64 for Q4 of FY2012. Annual loss per share decreased from $10.47 to $2.17.

Moreover, there was an increase in clinical tests conducted using Foundation Medicine Inc (NASDAQ:FMI)’s Hematology/Oncology genome profiler FoundationOne™. A total of 9,000 tests were conducted during FY 2013 which is almost a 9 times the number of tests performed last year.

A Hint On Future Trending

Following the expiration of an initial-lockup period, the pre-IPO institutional holders will be free to divest their holding and sell it in open market, thereby giving an acute boost to the supply. The increased supply is most likely to push the prices down. The stock of Foundation Medicine Inc (NASDAQ:FMI) is already trading at a high volume, which spurred to 324,080 shares yesterday while average volume is only 187,858. There is a good value investing opportunity for the buy-and-hold investors.

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