Foundation Medicine rallies in its first two days as a public company

Cancer diagnostics darling Foundation Medicine ($FMI) soared in its Nasdaq debut Sept. 25 and continued to rally a day later. The stock closed at $35.35 on its first day of trading, which Dow Jones noted was a whopping 96% higher than the debut price of $18 per share. The stock inched a bit higher in trading late afternoon on Sept. 26, hitting the $36 mark. Foundation Medicine, a member of the 2012 FierceBiotech Fierce 15, had planned to price its initial offering at $14 to $16 per share. The Cambridge, MA, company raised $106 million in its IPO. Story

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