NEW YORK (GenomeWeb) – Foundation Medicine reported after the close of the market Wednesday a 55 percent year-over-year increase in second quarter revenues amid a widening net loss.

The firm's shares dropped 23 percent in Thursday morning trade on the Nasdaq to $22.60 after it fell short of Wall Street's estimates and lowered its revenue guidance for 2015.

Revenues for the Cambridge, Massachusetts-based company increased to $22.5 million in the second quarter from $14.5 million during the same period in 2014, falling short of the Wall Street estimate of $24.4 million.

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In Science this week: International Wheat Genome Sequencing Consortium publishes the bread wheat cultivar Chinese Spring reference genome, and more.

At his FDA Law Blog, Jeffrey Gibbs discusses FDA's technical assistance for the draft Diagnostic Accuracy and Innovation Act.

The New York Times reports that genetic testing has uncovered unfaithful penguins at a Utah aquarium.

Cancer researcher loses funding under new Wellcome Trust anti-bullying policies, the Guardian reports.

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