A team of Goodwin Procter attorneys advised cancer diagnostic company Foundation Medicine Inc. in its initial public offering on Sept. 24, 2013, trading on Nasdaq under the symbol “FMI.”
The common stock was offered at $18 per share, well above its expected price of $14-$16. On the first day, Foundation Medicine’s closed trading at $35.35 per share, an increase of 96 percent. To date, this represents the biggest first day jump in stock price of all life sciences IPOs in 2013.
The Goodwin team that advised Foundation Medicine was led by Kingsley Taft, Arthur McGivern and Daniel Lang.
Goldman, Sachs & Co. and J.P. Morgan Securities, LLC acted as joint book-running managers of the offering; Leerink Swann LLC and Sanford C. Bernstein & Co., LLC acted as co-managers.
Additional information about Foundation Medicine’s IPO can be found in the company’s press release.