The FDA Ushers In a New Era in Cancer Treatment
On Thursday, Foundation Medicine (NASDAQ: FMI) won a green light for its comprehensive DNA test, FoundationOne CDx. The approval clears the way for healthcare providers to quickly determine what cancer therapies may work best based on next-generation sequencing (NGS) that can detect genetic mutations in 324 genes and two genomic signatures in solid tumors. The approval marks a major advance in genetic cancer screening, and it could accelerate the development of additional precision cancer drugs. Is now a good time to buy shares in Foundation Medicine?
