In Q1, Medicare granted FoundationOne CDx broad coverage through a final national coverage determination that makes it available for eligible stage 3 and stage 4 solid-tumor cancer patients. I expect testing volume to climb much higher, though. Contributing to the growth was a 57% year-over-year increase in completed tests to 21,861. Thanks to a flurry of biopharma cancer gene therapy research and rising demand for clinical testing, Foundation Medicine’s first-quarter 2018 sales skyrocketed 101% year over year to $52.8 million. Also, following the Food and Drug Administration approval of FoundationOne CDx late last year, Foundation Medicine became the first company to offer a comprehensive gene testing solution that matches solid-tumor cancer patients up with cancer drugs that are most likely to help them. Using next-generation screening technology, Foundation Medicine helps drugmakers identify for clinical drug trials patients who have genetic mutations that make them most amenable. A child rides a rocket into the sky with arm outstretched pointing toward space. Our understanding of the human genome and the role genes play in cancer is increasingly shaping patient treatment and one company that’s at the forefront of this movement is Foundation Medicine. In fact, Foundation Medicine (NASDAQ: FMI), Exelixis Corp (NASDAQ: EXEL), and Teladoc (NYSE: TDOC) all reported year-over-year sales growth north of 100% in first-quarter 2018.Īre these stocks worth including in your portfolio? 1.
For example, many healthcare stocks are growing at rates that Silicon Valley would envy. Technology stocks are staples in growth portfolios because of their eye-popping revenue growth, but technology isn’t the only sector of the stock market that boasts fast-growing companies.
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