Freenome Stock: Will Freenome IPO in the Next Few Years?

Explore opportunities to own Freenome stock before the IPO.

Access pre-IPO startups like Databricks, OpenAI, and Canva via the Fundrise Innovation Fund*. $10 minimum investment.

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Notable Freenome News

09/25/2024: Freenome Announces CEO Transition
04/24/2024: Freenome to Lay off 20 Percent of Workforce
02/15/2024: Freenome Raises $254 Million in New Funding
01/11/2022: Roche Invests $290 Million in Freenome
Older news…

About Freenome

Freenome is a cancer screening startup based in San Francisco, California. Its mission is to detect cancer in its earliest, most treatable stages and make screening easy and accessible for everyone.

The company believes no single technology can outsmart cancer. So, it deploys a “multimodal” approach combining machine learning and computational biology to look for early clues of the disease’s onset. 

Freenome applies multiomics, an integrated scientific approach that involves genomics, proteomics (study of proteins), transcriptomics (study of RNA transcripts), and other “omics” or biology disciplines. 

The company’s first product is a colorectal screening blood test to make screening more accessible and less invasive. Colorectal cancer is the world’s second deadliest cancer but has a high survival rate if detected early. Freenome is also exploring lung cancer screening tests and other cancers. 

Freenome’s public relations literature highlights integrity and trust. The Theranos scandal is still on the minds of Silicon Valley VCs. Freenome is pursuing a similar solution to what Theranos claimed they were working on. Blood diagnostics companies will face harsh scientific scrutiny in light of the scar left by Elizabeth Holmes and the team. 

 

Ownership

Freenome is a privately held startup. Owners include its founders, employees, and several venture capital firms. 

Prominent venture capital investors include Andreessen Horowitz (a16z Life Sciences), ARK Venture Fund (Cathie Wood’s VC fund), ArrowMark Partners, Artis Ventures, Bain Capital Life Sciences, BrightEdge (American Cancer Society), Catalio, Cormorant Capital, DCVC, Eventide, GV, HBM Healthcare, Intermountain Ventures, Janus Henderson, Kaiser Permanente Ventures, Logos Capital, Novartis, Perceptive Advisors, Polaris Partners, PuraVida Investments, Quest Diagnostics, RA Capital Management, Ridgeback Capital, Roche, Rock Springs Capital, Sands Capital, Section 32, Soleus, Squarepoint Capital, Suvretta, Verily, and T. Rowe Price.

With such a deep list of private investors, Freenome will face early pressure to provide liquidity once it has a viable commercial product. This large list of investors may not have the patience for an IPO. With multiple corporate investors, an acquisition may be more likely. 

Valuation

The February 2024 $254 million funding round established the Freenome valuation at $2.17 billion. The company has raised about $1.35 billion since its founding. 

Looking back two years ago, the company raised twice as much in late 2021 and early 2022. Assuming the company is spending more money today and still pre-revenue, it may need another funding round to cover operations, studies, and upcoming FDA approvals. 

IPO Potential

The Freenome IPO date is currently unknown and likely years away. 

Freenome is conducting two studies, one for colorectal cancer and another for lung cancer. It has other studies in the pipeline. When the company has collected sufficient data to validate its science and endured government scrutiny for approval for commercial use, it will begin to earn revenue and be a viable company. 

The timeline for this roadmap has not been shared publicly, and FDA approvals are often unpredictable.

If the company decides to pursue a public listing, watch for reporting about exploring a possible IPO with investment banks or a confidential S-1 filing with the SEC.

Freenome may also be an attractive acquisition candidate. It counts Roche and Quest Diagnostics as early investors. Both companies are viable suitors. 

Bookmark this page for the latest developments.

How to Invest in Freenome Stock

Since Freenome is a private company and is valued at just around $2 billion, it may be challenging to become direct shareowners today.

However, retail investors (non-accredited) can easily gain share exposure via a popular venture capital fund. 

Investors may also seek indirect exposure via public companies that have invested venture dollars into the company. 

1. Access Freenome stock via pre-IPO investing platforms

The ARK Venture Fund has owned Freenome stock since its inception in 2022. All U.S.-based retail investors can own the fund.

There’s a $500 minimum threshold to invest. This is a non-traded fund with limited liquidity.

However, it holds more than 20 innovative startups, including SpaceX, Discord, Anthropic, Zipline, and X Corp (Twitter).

I personally own shares of the fund and thus own Freenome stock. 

Non-accredited retail investors can also monitor holdings of the Fundrise Innovation Fund for access to pre-IPO startups. 

However, individual pre-IPO companies cannot be selected, and Freenome stock is only in the ARK Venture Fund portfolio, not Fundrise. 

Accredited investors can monitor pre-IPO equity platforms such as Hiive for share availability. Join the platform for free and sign up for alerts when your favorite pre-IPO startup becomes available.

Other pre-IPO platforms include Equitybee, EquityZen, ForgeGlobal, and Linqto. 

Investors will pay at least a $10,000 investment minimum for direct access. In many cases, the minimum investment is higher. 

Signing up for access to pre-IPO data and deal alerts and expressing interest in startups is free.

Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.

Check out our list of top pre-IPO investing platforms for current share availability across platforms. 

2. Buy Quest Diagnostics Stock (Indirect Investment)

Quest Diagnostics is an investor in Freenome and a publicly traded U.S. company. Retail investors can buy Quest Diagnostic stock (symbol: DGX) to gain investment exposure to Freenome. 

Indirect investment enables investment exposure, but any gains in Freenome’s valuation will have a limited effect on Quest’s stock price.

Quest is a potential acquirer as it already has made an investment in the company. 

3. Participated in the Freenome IPO through a broker

Several venture capital firms have invested in Freenome and may seek to liquidate ownership in the coming years when market conditions favor IPOs. 

The company is still spending money to validate science and get its products approved for commercial use. It likely does not have its sights set on an IPO at this time.

I think an acquisition is more likely because it would suffice a liquidation event for its deep roster of venture capital investors without the onerous task of preparing the company for a public offering. 

If Freenome were to keep itself private and seek an IPO years from now, investors can prepare to invest in the IPO by opening accounts with the following brokers that offer IPO access:

• TradeStation 
• Robinhood
  

TradeStation has a longer track record of accessing more than 300 IPOs and secondary offerings via its partnership with ClickIPO. 

But Robinhood has the advantage of Silicon Valley networks and a history of getting allocations for high-profile IPOs.

Read company S-1 filings to find evidence that these online brokers may offer access to shares. 

Check out this list of best brokers for IPO investing to learn more about IPO access for retail investors.

4. Buy Freenome stock after the IPO

Investors don’t need to wait for the Freenome IPO; there are two ways to own the company now.

Getting in on private companies early can lead to big gains.

Waiting for stocks to go public has its perks, too. IPOs offer detailed financials after a few quarters, while pre-IPO investments have limited financial information.

IPO stocks usually rise with high-demand companies. Early investors can benefit by selling when the price gets too high.

Without IPO access, post-IPO investors might buy shares at inflated prices.

But stock prices often drop after IPOs, giving investors an opportunity to buy.

Avoid buying overvalued shares right after the IPO, as the IPO euphoria can inflate short-term prices and valuations. 

The most disruptive companies may have higher valuations in the future. Be patient and selective.

Frequently Asked Questions (FAQs)

Is Freenome Stock Publicly Traded?

No. Freenome is a private company. But retail investors can own the company pre-IPO. See below for more.

What is the Freenome Stock Price?

The latest funding round (Feb 2024) priced the Freenome stock price at $7.40 per share, according to data from multiple sources. 

What is the Freenome Stock Symbol? 

There is no Freenome stock symbol yet because it is a private company.

Here are a few Freenome ticker suggestions that appear to be available in the U.S.: 

• FRNM
• FNM
• NOME
• OME

Where is the Freenome S-1 Filing?

Freenome has yet to release an S-1 filing to the public. There is no evidence of a confidential S-1 filing yet, and Freenome is likely years away from a filing, if it even desires that eventual outcome. 

News of a confidential or public S-1 filing would kick off the IPO process, suggesting the IPO could occur during the following two to six months. 

When the company releases the S-1 filing to investors, we’ll link to and embed the document on this web page.

In the meantime, you can check out the most recent S-1 filings in our S-1 filings feed.

News Archive

12/07/2021: Freenome Raises $300 Million in Series D
08/26/2020: Freenome Closes $270 Million Series C
07/24/2019: Freenome Closes $160 Million Series B
08/28/2017: Freenome Announces Series A Extension

Conclusion

Investors become interested in buying companies riding extraordinary macroeconomic trends (diagnostics, biotech).

In this case, retail investors have an easy path to own Freenome via the ARK Venture Fund.

Pre-IPO investing platforms have opened more opportunities for retail investors. VC funds are an excellent opportunity to dip your toes into the venture capital world with small investment amounts. 

It’s now possible to own this company via a fund, but direct investing still requires accreditation and availability. Monitor pre-IPO platforms like Hiive to find a marketplace for shares. 

Good luck if you wish to buy Freenome stock before the IPO. Invest in pre-IPO and IPO companies at your own risk.