Up on a down open. Only news I see:…

The trial is assessing the combo in a first-line setting in NSCLC patients whose tumors have high tumor mutation burden (TMB) regardless of PD-L1 expression. TMB is being evaluated using Foundation Medicine’s (NASDAQ:FMI) FoundationOne CDx assay.


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I am not familiar with Cowen & Co., but they initiated coverage on FMI with an “Outperform” rating and a price target of $90. I figure there are some others here besides me that have been following FMI (or even invested in it) subsequent to bulwnkl bringing it here to the board.

Link to a list of FMI ratings (most of these are quite old):


A more detailed follow-up on this initiation.

Schenkel cited four reaons for his bullish take on Foundation Medicine’s fundamentals:

A first-mover advantage in the oncology comprehensive genetic testing space, boasting a more integrated offering than most competitors.
F1 CDx’s unique FDA as well as CMS approval provides its an edge over competition.
A strong genetic database built on the back of robust test volumes.
A comprehensive genetic database that’s gaining value due to its appeal to biopharma companies.

Then later (sounding awfully similar to what bulwnkl had posted):

"The virtuous cycle of more tests, partnerships, and knowledge [and Roche Holding Ltd. (ADR)
RHHBY 1.16%] positions FMI for material upside from here," the analyst said.

Schenkel named the following upcoming catalysts for Foundation Medicine:

A finalized NCD decision and CPT pricing determination.
Private payer coverage decisions.
New biopharma partnerships and trial readouts.
Quarterly earnings.…


Foundation Medicine (FMI) has had a nice couple days. Not sure if this analyst upgrade had much to do with it, but the upgrade certainly didn’t hurt matters.…

I’d like to thank bulwnkl again for bringing Foundation Medicine to the board.

With these past few days of FMI doing well…I am not too far from “breaking even”/having a flat day…even with Arista Networks and their now 18+% drop as an 11% position.