NEW YORK (GenomeWeb) – Foundation Medicine today reported a 70 percent increase in preliminary revenues for the fourth quarter.

For the quarter ended Dec. 31, preliminary unaudited revenues totaled $48.9 million, up from $28.8 million during the year-ago quarter. Analysts, on average, had estimated Q4 revenues to be only $39.2 million. Expected revenues from biopharmaceutical companies are $33.4 million, up from $19 million in Q4 of 2016, and expected revenues from clinical testing are $15.5 million, up from $9.8 million during last year's fourth quarter.

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