Foundation nearly doubles in debut

Foundation Medicine Inc. (NASDAQ:FMI) jumped $17.35 (96%) to $35.35 in its first day of trading on Wednesday after raising $106 million in an IPO late Tuesday. The diagnostics company sold 5.9 million shares at $18, which valued the company at $489.1 million. With Wednesday's move, the company is now valued at $960.5 million. Goldman Sachs; JPMorgan; Leerink; and Sanford C. Bernstein are underwriters. Foundation Medicine said it submitted a confidential S-1 to the SEC in June, prior to its public filing in July. ...