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Foundation Medicine reports 4Q loss

CAMBRIDGE, Mass. (AP) _ Foundation Medicine Inc. (FMI) on Wednesday reported a loss of $38.1 million in its fourth quarter.

The Cambridge, Massachusetts-based company said it had a loss of $1.05 per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of $1.01 per share.

The diagnostic cancer analyses company posted revenue of $48.9 million in the period, which met Street forecasts.

For the year, the company reported that its loss widened to $161.5 million, or $4.50 per share. Revenue was reported as $152.9 million.

Foundation Medicine expects full-year revenue in the range of $200 million to $220 million.

Foundation Medicine shares have climbed 22 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $83.25, more than doubling in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FMI at https://www.zacks.com/ap/FMI