The FDA Ushers In a New Era in Cancer Treatment

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?

Advances in genetic sequencing have resulted in an explosion of research geared at creating increasingly targeted precision medicines. Already, there are more than 70 FDA-approved personalized therapies, and that number should climb substantially in the coming years, given that there are currently over 3,000 ongoing clinical trials evaluating precision cancer approaches.

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Source: Fool.com