BioCentury
ARTICLE | Finance

General stampede

Why investors piled into cancer sequencing play Foundation Medicine after IPO

September 30, 2013 7:00 AM UTC

While IPOs in the biotech bull run have been leaving some money on the table for new investors in the aftermarket, the reception for cancer sequencing company Foundation Medicine Inc. was over the top.

On its first day of trading last Wednesday, the share price nearly doubled and sent the biotech's market cap to almost $1 billion...