{"id":21163,"date":"2026-09-04T05:08:47","date_gmt":"2026-09-03T20:08:47","guid":{"rendered":"https:\/\/tomorrowaccess.com\/?page_id=21163"},"modified":"2026-10-27T14:16:41","modified_gmt":"2026-10-27T05:16:41","slug":"freenome-2026","status":"publish","type":"page","link":"https:\/\/tomorrowaccess.com\/en\/s-1-journal\/freenome-2026","title":{"rendered":"It Can Find Colorectal Cancer in Blood. Someone Else Sells That Test Alone."},"content":{"rendered":"<style>@import url('https:\/\/fonts.googleapis.com\/css2?family=Newsreader:ital,opsz,wght@0,6..72,400;0,6..72,500;0,6..72,600;1,6..72,400&display=swap');html,body {max-width: 100vw !important;overflow-x: hidden !important;}main,main > .entry-content,main > .wp-block-post-content,main > .wp-block-post-content.is-layout-constrained,main > .wp-block-post-content.is-layout-constrained > *,main .wp-block-group,main .wp-block-post-content {max-width: 100% !important;padding-left: 0 !important;padding-right: 0 !important;margin-left: 0 !important;margin-right: 0 !important;}main#wp--skip-link--target {padding: 0 !important;margin-top: 0 !important;max-width: 100% !important;}.s1-figure-inline {display: block;width: 100%;max-width: 100%;margin: 60px 0;padding: 0;box-sizing: border-box;}.s1-figure-inline picture {display: block;width: 100%;}.s1-figure-inline img {display: block;width: 100%;max-width: 100%;height: auto;margin: 0;}@media (max-width: 720px) {.s1-hero-grid {grid-template-columns: 1fr !important;}.s1-hero-grid > div {border-right: none !important;border-bottom: 1px solid #e6e6e6 !important;padding: 24px 12px !important;}.s1-hero-grid > div:last-child {border-bottom: none !important;}.s1-hero-grid > div > div:first-child {font-size: 32px !important;white-space: normal !important;}.s1-body-table,.s1-body-table tbody,.s1-body-table tr,.s1-body-table td,.s1-body-table th {display: block !important;width: 100% !important;max-width: 100% !important;box-sizing: border-box !important;}.s1-body-table thead {display: none !important;}.s1-body-table tr {margin-bottom: 16px !important;padding: 8px 0 !important;border-top: 1px solid #1a1a1a !important;}.s1-body-table tr:last-child {border-bottom: 1px solid #1a1a1a !important;}.s1-body-table td {text-align: left !important;padding: 6px 8px !important;}.s1-body-table td::before {content: attr(data-label) \": \";font-weight: 700 !important;color: #000 !important;}.s1-body-table td:first-child::before,.s1-body-table td[data-label=\"\"]::before {display: none !important;}.s1-light-shadow {flex-direction: column !important;}.s1-light-shadow > div {border-left: 1px solid #1a1a1a !important;border-top: 0 !important;}.s1-light-shadow > div:first-child {border-top: 1px solid #1a1a1a !important;}h1 {font-size: clamp(26px, 7vw, 34px) !important;}h2 {font-size: clamp(22px, 5.5vw, 28px) !important;}.s1-article-cta-headline {font-size: 24px !important; line-height: 1.4 !important;}}@media (max-width: 480px) {.s1-article-cta-headline {font-size: 20px !important;}}<\/style>\n<div style=\"font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; color: #1a1a1a; overflow-wrap: break-word; text-wrap: pretty; font-size: 16px; -webkit-font-smoothing: antialiased; background: #fafafa; width: 100%;\">\n<div style=\"max-width: 1000px; margin: 0 auto; padding: 80px 20px 0; font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif;\">\n  <a href=\"https:\/\/tomorrowaccess.com\/en\/s-1-journal\/\" style=\"text-decoration: none; color: inherit; display: block;\"><\/p>\n<div style=\"text-align: left; margin-bottom: 40px;\">\n<div style=\"width: 100%; height: 5px; background: #1a1a1a;\"><\/div>\n<div style=\"margin-top: 26px; font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 32px; font-weight: 600; color: #1a1a1a; letter-spacing: 0.01em; line-height: 1; margin-bottom: 14px;\">S-1 <span style=\"color: #daa241;\">Journal<\/span><\/div>\n<div style=\"display: flex; align-items: center; flex-wrap: wrap; gap: 14px; font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; margin-bottom: 26px;\">\n        <span style=\"font-size: 11px; letter-spacing: 0.18em; color: #1a1a1a; font-weight: 700; text-transform: uppercase;\">The 10 Questions<\/span><br \/>\n        <span style=\"font-size: 11px; color: #ccc;\">|<\/span><br \/>\n        <span style=\"font-size: 12px; letter-spacing: 0.02em; color: #666; font-weight: 400;\">Every S-1, decoded through the same 10 questions.<\/span>\n      <\/div>\n<div style=\"width: 100%; height: 1px; background: #daa241;\"><\/div>\n<\/p><\/div>\n<p>  <\/a>\n<\/div>\n<div style=\"max-width: 720px; margin: 0 auto; padding: 0 20px; font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; color: #1a1a1a; overflow-wrap: break-word; text-wrap: pretty;\">\n<div style=\"margin: 0 0 32px 0;\">\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 30px; font-weight: 600; letter-spacing: 0; color: #daa241; margin: 0; line-height: 1.2;\">Freenome<\/p>\n<\/div>\n<h1 style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: clamp(32px, 6vw, 46px); font-weight: 600; line-height: 1.2; letter-spacing: -0.01em; color: #000; margin: 0 0 40px 0; text-wrap: pretty;\">It Can Find Colorectal Cancer in Blood. Someone Else Sells That Test Alone.<\/h1>\n<div style=\"font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 13px; letter-spacing: 0.03em; color: #888; margin: 0 0 60px 0; border-bottom: 1px solid #e6e6e6; padding-bottom: 16px;\">Source: <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/2017526\/000114036126033585\/ny20080283x1_s1.htm\" target=\"_blank\" rel=\"noopener\" style=\"color: #daa241; text-decoration: underline; text-underline-offset: 3px; text-decoration-thickness: 1px;\">Freenome, Inc. S-1 (filed 2026-08-18) \u2197<\/a><\/div>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">In July 2026, the U.S. Food and Drug Administration approved a blood test. SimpleScreen CRC. <strong style=\"font-weight: 700; color: #000;\">One blood draw, to screen for colorectal cancer<\/strong>. Not a colonoscopy, not a stool sample: a screening option that runs on blood. The company that developed it is Freenome. About 120 million people in the United States are eligible for colorectal cancer screening, and 40 million to 50 million of them go unscreened, the filing says.<\/p>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">But the company that sells this test in the United States as a <span style=\"white-space:nowrap;\">stand-alone<\/span> colorectal cancer test is not Freenome.<br \/>Abbott has the exclusive right to commercialize it, and what comes back to Freenome is an upfront payment, milestones and tiered royalties.<br \/>The royalty is capped at <span style=\"white-space:nowrap;\">10%<\/span>, and the cap is reached when the gross margin hits <span style=\"white-space:nowrap;\">20%<\/span>. That is what the body of the filing says. The notes to the financial statements put it differently.<\/p>\n<\/div>\n<div style=\"max-width: 720px; margin: 80px auto; padding: 0 20px;\">\n<div class=\"s1-hero-grid\" style=\"border-top: 1px solid #1a1a1a; border-bottom: 1px solid #1a1a1a; padding: 50px 0; display: grid; grid-template-columns: repeat(3, 1fr); gap: 0; text-align: center; align-items: start;\">\n<div style=\"padding: 0 12px; border-right: 1px solid #e6e6e6;\">\n<div style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: clamp(28px, 4.5vw, 36px); font-weight: 500; line-height: 1.05; color: #000; letter-spacing: -0.02em; white-space: nowrap;\">about $1.6B<\/div>\n<div style=\"font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 10.5px; letter-spacing: 0.2em; color: #daa241; margin-top: 18px; font-weight: 700; text-transform: uppercase;\">RECEIVED SINCE INCEPTION<\/div>\n<div style=\"font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 12px; letter-spacing: 0.04em; color: #888; margin-top: 6px; font-weight: 400; line-height: 1.4;\">financings plus partnership upfronts and notes, as of June 2026<\/div>\n<\/p><\/div>\n<div style=\"padding: 0 12px; border-right: 1px solid #e6e6e6;\">\n<div style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: clamp(28px, 4.5vw, 36px); font-weight: 500; line-height: 1.05; color: #000; letter-spacing: -0.02em; white-space: nowrap;\">about $1.5B<\/div>\n<div style=\"font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 10.5px; letter-spacing: 0.2em; color: #daa241; margin-top: 18px; font-weight: 700; text-transform: uppercase;\">ACCUMULATED DEFICIT<\/div>\n<div style=\"font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 12px; letter-spacing: 0.04em; color: #888; margin-top: 6px; font-weight: 400; line-height: 1.4;\">losses piled up to date<\/div>\n<\/p><\/div>\n<div style=\"padding: 0 12px;\">\n<div style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: clamp(28px, 4.5vw, 36px); font-weight: 500; line-height: 1.05; color: #000; letter-spacing: -0.02em; white-space: nowrap;\">$0<\/div>\n<div style=\"font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 10.5px; letter-spacing: 0.2em; color: #daa241; margin-top: 18px; font-weight: 700; text-transform: uppercase;\">PROCEEDS TO COMPANY<\/div>\n<div style=\"font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 12px; letter-spacing: 0.04em; color: #888; margin-top: 6px; font-weight: 400; line-height: 1.4;\">the company&rsquo;s share of what the sold shares fetch<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<div style=\"max-width: 720px; margin: 0 auto; padding: 0 20px; font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; color: #1a1a1a; overflow-wrap: break-word; text-wrap: pretty;\">\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 60px 0 1.5em 0;\">Freenome has taken in <strong style=\"font-weight: 700; color: #000;\">about <span style=\"white-space:nowrap;\">$1.6<\/span> billion<\/strong> since it was founded, and by the end of June 2026 it had piled up <strong style=\"font-weight: 700; color: #000;\">an accumulated deficit of <span style=\"white-space:nowrap;\">$1.5<\/span> billion<\/strong>. Cash, cash equivalents and <span style=\"white-space:nowrap;\">short-term<\/span> marketable securities at that same date came to <strong style=\"font-weight: 700; color: #000;\"><span style=\"white-space:nowrap;\">$102.0<\/span> million<\/strong>.<\/p>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">And the <span style=\"white-space:nowrap;\">S-1<\/span> filed on August 18, 2026 is not a document for raising new money. It <strong style=\"font-weight: 700; color: #000;\">registers the resale of shares held by existing securityholders<\/strong>. When those shares sell, the proceeds do not come to the company.<\/p>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.4em 0;\">Ten questions. We lay out only what the S-1 says.<\/p>\n<div class=\"s1-toc-top\" style=\"margin: 60px 0; padding: 30px; background: #fafafa; border-top: 1px solid #e6e6e6; border-bottom: 1px solid #e6e6e6; font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif;\"><div style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 13px; color: #daa241; letter-spacing: 0.22em; margin-bottom: 16px;\">CONTENTS<\/div><ul style=\"list-style: none; padding: 0; margin: 0 0 20px; font-size: 14px;\"><li style=\"padding: 9px 0; border-bottom: 1px solid #e6e6e6; display: flex; align-items: baseline; gap: 16px; color: #000000;\"><span style=\"color: #daa241; font-weight: 700; min-width: 60px; font-family: 'Newsreader', Georgia, 'Times New Roman', serif;\">Q1<\/span><span>What is this company, really?<\/span><\/li><li style=\"padding: 9px 0; border-bottom: 1px solid #e6e6e6; display: flex; align-items: baseline; gap: 16px; color: #000000;\"><span style=\"color: #daa241; font-weight: 700; min-width: 60px; font-family: 'Newsreader', Georgia, 'Times New Roman', serif;\">Q2<\/span><span>What is it competing on?<\/span><\/li><li style=\"padding: 9px 0; border-bottom: 1px solid #e6e6e6; display: flex; align-items: baseline; gap: 16px; color: #666666;\"><span style=\"color: #daa241; font-weight: 700; min-width: 60px; font-family: 'Newsreader', Georgia, 'Times New Roman', serif;\">Q3<\/span><span>How big is the market?<\/span><\/li><li style=\"padding: 9px 0; border-bottom: 1px solid #e6e6e6; display: flex; align-items: baseline; gap: 16px; color: #666666;\"><span style=\"color: #daa241; font-weight: 700; min-width: 60px; font-family: 'Newsreader', Georgia, 'Times New Roman', serif;\">Q4<\/span><span>Who uses it?<\/span><\/li><li style=\"padding: 9px 0; border-bottom: 1px solid #e6e6e6; display: flex; align-items: baseline; gap: 16px; color: #666666;\"><span style=\"color: #daa241; font-weight: 700; min-width: 60px; font-family: 'Newsreader', Georgia, 'Times New Roman', serif;\">Q5<\/span><span>How does it make money?<\/span><\/li><li style=\"padding: 9px 0; border-bottom: 1px solid #e6e6e6; display: flex; align-items: baseline; gap: 16px; color: #666666;\"><span style=\"color: #daa241; font-weight: 700; min-width: 60px; font-family: 'Newsreader', Georgia, 'Times New Roman', serif;\">Q6<\/span><span>Are the numbers healthy?<\/span><\/li><li style=\"padding: 9px 0; border-bottom: 1px solid #e6e6e6; display: flex; align-items: baseline; gap: 16px; color: #666666;\"><span style=\"color: #daa241; font-weight: 700; min-width: 60px; font-family: 'Newsreader', Georgia, 'Times New Roman', serif;\">Q7<\/span><span>Who runs it?<\/span><\/li><li style=\"padding: 9px 0; border-bottom: 1px solid #e6e6e6; display: flex; align-items: baseline; gap: 16px; color: #666666;\"><span style=\"color: #daa241; font-weight: 700; min-width: 60px; font-family: 'Newsreader', Georgia, 'Times New Roman', serif;\">Q8<\/span><span>Who controls it?<\/span><\/li><li style=\"padding: 9px 0; border-bottom: 1px solid #e6e6e6; display: flex; align-items: baseline; gap: 16px; color: #666666;\"><span style=\"color: #daa241; font-weight: 700; min-width: 60px; font-family: 'Newsreader', Georgia, 'Times New Roman', serif;\">Q9<\/span><span>What does it fear?<\/span><\/li><li style=\"padding: 9px 0; border-bottom: 1px solid #e6e6e6; display: flex; align-items: baseline; gap: 16px; color: #666666;\"><span style=\"color: #daa241; font-weight: 700; min-width: 60px; font-family: 'Newsreader', Georgia, 'Times New Roman', serif;\">Q10<\/span><span>What happens to the money raised?<\/span><\/li><li style=\"padding: 9px 0;  display: flex; align-items: baseline; gap: 16px; color: #666666;\"><span style=\"color: #daa241; font-weight: 700; min-width: 60px; font-family: 'Newsreader', Georgia, 'Times New Roman', serif;\">\u2014<\/span><span>Closing: beyond the ten questions<\/span><\/li><\/ul><p style=\"margin: 0; font-size: 13px; color: #666666; line-height: 1.7;\">Q1 and Q2 are free. Q3 onward is a one-time $25 unlock. <a href=\"https:\/\/buy.stripe.com\/4gMcN45320Ojcp50Iz67S0o?client_reference_id=freenome-en\" style=\"color: #daa241; font-weight: 700; text-decoration: none; white-space: nowrap;\">Unlock the full piece for $25 &rarr;<\/a><\/p><\/div><p style=\"font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 13px; letter-spacing: 0.22em; font-weight: 700; color: #daa241; margin: 100px 0 12px 0; text-transform: uppercase;\">Question 1<\/p>\n<h2 style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: clamp(26px, 5vw, 32px); font-weight: 600; line-height: 1.25; letter-spacing: -0.005em; color: #000; margin: 0 0 28px 0;\">What is this company, really?<\/h2>\n<div style=\"margin: 0 0 30px 0; padding: 0 0 16px 0; border-bottom: 1px solid #1a1a1a;\">\n<p style=\"font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 12px; letter-spacing: 0.2em; color: #daa241; font-weight: 700; margin: 0 0 8px 0; text-transform: uppercase;\">Primary source \u00b7 from the S-1<\/p>\n<p style=\"font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 15px; line-height: 1.6; color: #1a1a1a; margin: 0;\">Prospectus Summary (Overview, p.1 onward), Business (Overview, p.75 onward) \u2014 from the S-1<\/p>\n<\/div>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">In one line: a company that reads the signs of cancer out of blood.<\/p>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">Cancer is harder to act on the later it is found. The filing puts that state of things in numbers. Every day, cancer claims <strong style=\"font-weight: 700; color: #000;\">more than 1,600 lives<\/strong> in the United States alone. Only <strong style=\"font-weight: 700; color: #000;\">about <span style=\"white-space:nowrap;\">14%<\/span><\/strong> of cancers are detected by screening, and roughly half are not detected until an advanced stage.<\/p>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">What Freenome is trying to do is make the entrance to that a single blood draw. The company writes out its own mission this way.<\/p>\n<blockquote style=\"position: relative; margin: 36px 0; padding: 20px 22px 16px 22px; background: #f5f1e6; box-sizing: border-box; max-width: 100%; overflow: hidden;\"><p>\n<span aria-hidden=\"true\" style=\"position: absolute; top: 2px; left: 10px; font-family: Georgia, 'Times New Roman', serif; font-size: 42px; font-weight: 400; color: #daa241; line-height: 1;\">&ldquo;<\/span><\/p>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 17px; font-weight: 400; line-height: 1.65; letter-spacing: 0.02em; color: #1a1a1a; margin: 0 0 10px 0; padding-left: 24px; overflow-wrap: break-word; overflow-wrap: break-word;\">Our mission is to detect cancer and disease at earlier, more treatable stages by making screening easy and accessible.<\/p>\n<p style=\"font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 9.5px; font-weight: 700; letter-spacing: 0.16em; color: #daa241; margin: 0; padding-left: 24px; overflow-wrap: anywhere;\">FREENOME S-1 (AUG 2026) \/ PROSPECTUS SUMMARY<\/p>\n<\/blockquote>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">The technology has a name: <strong style=\"font-weight: 700; color: #000;\">multiomics<\/strong>. Rather than look only at the DNA in blood, it reads several kinds of molecules at once, RNA and proteins among them, and combines them with machine learning. It is built to pick up both the signal a tumor puts out and the signal that comes from elsewhere, the immune system for instance.<\/p>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">Why look at more than one? Because some cancers shed a great deal of their own DNA into the blood and others shed almost none.<\/p>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">A figure in the filing lays the thinking out. Sensitivity from DNA alone is <span style=\"white-space:nowrap;\">43%<\/span> in prostate cancer and <span style=\"white-space:nowrap;\">74%<\/span> in pancreatic cancer. Combine several kinds of molecules and the numbers become <span style=\"white-space:nowrap;\">91%<\/span> and <span style=\"white-space:nowrap;\">93%<\/span>.<\/p>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">That figure carries a hard caveat, though: &ldquo;Values shown are conceptual examples and do not represent clinical performance of any Freenome product candidate.&rdquo; Case counts are written into the figure, and the company itself disowns the numbers all the same.<\/p>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">The first product approved in the United States is SimpleScreen CRC. A test for colorectal cancer, for adults 45 and older who are at average risk for the disease. It received <strong style=\"font-weight: 700; color: #000;\">FDA approval in July 2026<\/strong>.<\/p>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">The study behind it is PREEMPT CRC. It ran at 201 sites in the United States and the United Arab Emirates and met all primary endpoints, the filing says. More than 48,000 people were enrolled; <strong style=\"font-weight: 700; color: #000;\">about 27,000 were evaluated<\/strong>. Freenome funded and ran it itself.<\/p>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">The filing calls the approval &ldquo;a <span style=\"white-space:nowrap;\">blood-based<\/span> screening option.&rdquo; <strong style=\"font-weight: 700; color: #000;\">A screening option, not a diagnosis<\/strong>.<\/p>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">One thing should be clear here. This article does not recommend any test. Every sensitivity and specificity figure below comes from Freenome&rsquo;s filing. The prostate and pancreatic numbers just cited are the ones the filing itself places as conceptual examples. And the approval is a U.S. FDA approval; it does not mean approval or availability anywhere else.<\/p>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">A company that bet on one thing: reading the signs of disease out of blood.<\/p>\n<p style=\"font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 13px; letter-spacing: 0.22em; font-weight: 700; color: #daa241; margin: 100px 0 12px 0; text-transform: uppercase;\">Question 2<\/p>\n<h2 style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: clamp(26px, 5vw, 32px); font-weight: 600; line-height: 1.25; letter-spacing: -0.005em; color: #000; margin: 0 0 28px 0;\">What does it compete on?<\/h2>\n<div style=\"margin: 0 0 30px 0; padding: 0 0 16px 0; border-bottom: 1px solid #1a1a1a;\">\n<p style=\"font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 12px; letter-spacing: 0.2em; color: #daa241; font-weight: 700; margin: 0 0 8px 0; text-transform: uppercase;\">Primary source \u00b7 from the S-1<\/p>\n<p style=\"font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 15px; line-height: 1.6; color: #1a1a1a; margin: 0;\">Business (Our Strengths and Competitive Differentiation, p.76 onward), Business (Competition, p.91 onward) \u2014 from the S-1<\/p>\n<\/div>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">Three fronts: how it reads, how it accumulates, and how rare the approval is.<\/p>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">Freenome is not the only company trying to find cancer in blood. The filing names as competitors Caris Life Sciences, Exact Sciences, GRAIL, Guardant Health, LabCorp, Natera and Quest Diagnostics.<\/p>\n<h3 style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 22px; font-weight: 700; line-height: 1.5; color: #000; margin: 30px 0 16px 0; border-left: 4px solid #daa241; padding: 0 0 0 16px;\">Refusing &ldquo;one size fits all&rdquo;<\/h3>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">The company&rsquo;s technical position is explicit. The filing writes: &ldquo;We fundamentally believe a &lsquo;one size fits all&rsquo; technological approach is insufficient to detect every cancer across stages and subtypes.&rdquo;<\/p>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">Concretely, it uses a <strong style=\"font-weight: 700; color: #000;\"><span style=\"white-space:nowrap;\">non-bisulfite<\/span> epigenetic assay with <span style=\"white-space:nowrap;\">base-level<\/span> resolution<\/strong>. A way of reading the chemical modifications on DNA at the level of the individual base rather than the fragment, as the company explains it.<\/p>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">On top of that it keeps deep learning models of its own. The structure learns a representation of each fragment from <span style=\"white-space:nowrap;\">base-level<\/span> features and rolls those up into a prediction for the sample. The protein assays were developed <span style=\"white-space:nowrap;\">in-house<\/span>, the filing says, and the autoantibodies came in with the 2023 acquisition of Oncimmune.<\/p>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">In v2, still in development, these improvements are expected to <strong style=\"font-weight: 700; color: #000;\">more than triple<\/strong> the number of distinct <span style=\"white-space:nowrap;\">cell-free<\/span> DNA molecules the assay can count. It is also targeting <strong style=\"font-weight: 700; color: #000;\">approximately <span style=\"white-space:nowrap;\">95%<\/span><\/strong> full automation in the lab workflow.<\/p>\n<p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #1a1a1a; margin: 0 0 1.5em 0;\">Note that the filing attaches a caveat to the tables and figures in this section: these are internal development metrics, not clinical performance claims.<\/p>\n<div class=\"s1-paywall-fade\" aria-hidden=\"true\" style=\"position:relative; height:0; overflow:visible;\"><div style=\"position:absolute; left:0; right:0; bottom:0; height:220px; background:linear-gradient(to bottom, rgba(250,250,250,0) 0%, rgba(250,250,250,0.55) 45%, rgba(250,250,250,0.9) 80%, #fafafa 100%); pointer-events:none;\"><\/div><\/div><div class=\"s1-paywall-cta\" style=\"margin: 60px 0; padding: 60px 30px; background: #fafafa; border-top: 2px solid #daa241; border-bottom: 1px solid #e6e6e6; text-align: center; font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif;\">\n\n  <div style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 13px; color: #daa241; letter-spacing: 0.22em; margin-bottom: 16px;\">CONTINUE READING<\/div>\n\n  <h3 style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 28px; font-weight: 400; line-height: 1.5; color: #000; margin: 0 0 32px; letter-spacing: 0.02em;\">\n    Keep reading\n  <\/h3>\n\n  <ul style=\"list-style: none; padding: 0; margin: 0 auto 32px; max-width: 380px; text-align: left; font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 14px;\">\n      <li style=\"padding: 10px 0; border-bottom: 1px solid #e6e6e6; display: flex; align-items: baseline; gap: 16px;\">\n        <span style=\"color: #daa241; font-weight: 700; min-width: 54px; font-family: 'Newsreader', Georgia, 'Times New Roman', serif;\">Q3<\/span>\n        <span>How big is the market?<\/span>\n      <\/li>      <li style=\"padding: 10px 0; border-bottom: 1px solid #e6e6e6; display: flex; align-items: baseline; gap: 16px;\">\n        <span style=\"color: #daa241; font-weight: 700; min-width: 54px; font-family: 'Newsreader', Georgia, 'Times New Roman', serif;\">Q4<\/span>\n        <span>Who actually uses it?<\/span>\n      <\/li>      <li style=\"padding: 10px 0; border-bottom: 1px solid #e6e6e6; display: flex; align-items: baseline; gap: 16px;\">\n        <span style=\"color: #daa241; font-weight: 700; min-width: 54px; font-family: 'Newsreader', Georgia, 'Times New Roman', serif;\">Q5<\/span>\n        <span>How does it make money?<\/span>\n      <\/li>      <li style=\"padding: 10px 0; border-bottom: 1px solid #e6e6e6; display: flex; align-items: baseline; gap: 16px;\">\n        <span style=\"color: #daa241; font-weight: 700; min-width: 54px; font-family: 'Newsreader', Georgia, 'Times New Roman', serif;\">Q6<\/span>\n        <span>Are the numbers healthy?<\/span>\n      <\/li>      <li style=\"padding: 10px 0; border-bottom: 1px solid #e6e6e6; display: flex; align-items: baseline; gap: 16px;\">\n        <span style=\"color: #daa241; font-weight: 700; min-width: 54px; font-family: 'Newsreader', Georgia, 'Times New Roman', serif;\">Q7<\/span>\n        <span>Who runs it?<\/span>\n      <\/li>      <li style=\"padding: 10px 0; border-bottom: 1px solid #e6e6e6; display: flex; align-items: baseline; gap: 16px;\">\n        <span style=\"color: #daa241; font-weight: 700; min-width: 54px; font-family: 'Newsreader', Georgia, 'Times New Roman', serif;\">Q8<\/span>\n        <span>Who controls it?<\/span>\n      <\/li>      <li style=\"padding: 10px 0; border-bottom: 1px solid #e6e6e6; display: flex; align-items: baseline; gap: 16px;\">\n        <span style=\"color: #daa241; font-weight: 700; min-width: 54px; font-family: 'Newsreader', Georgia, 'Times New Roman', serif;\">Q9<\/span>\n        <span>What is it afraid of?<\/span>\n      <\/li>      <li style=\"padding: 10px 0; border-bottom: 1px solid #e6e6e6; display: flex; align-items: baseline; gap: 16px;\">\n        <span style=\"color: #daa241; font-weight: 700; min-width: 54px; font-family: 'Newsreader', Georgia, 'Times New Roman', serif;\">Q10<\/span>\n        <span>What becomes of the money it raises?<\/span>\n      <\/li>      <li style=\"padding: 10px 0;  display: flex; align-items: baseline; gap: 16px;\">\n        <span style=\"color: #daa241; font-weight: 700; min-width: 54px; font-family: 'Newsreader', Georgia, 'Times New Roman', serif;\">Closing<\/span>\n        <span>Beyond the ten questions<\/span>\n      <\/li>\n  <\/ul>\n<div class=\"s1-owarini-teaser\" style=\"max-width: 720px; margin: 0 auto 30px; padding: 30px 0 0; border-top: 1px solid #e6e6e6; text-align: left; position: relative;\"><p style=\"font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 12px; letter-spacing: 0.25em; font-weight: 700; color: #daa241; margin: 0 0 12px; text-transform: uppercase;\">In closing<\/p><h4 style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 24px; font-weight: 400; line-height: 1.5; color: #000; margin: 0 0 30px; letter-spacing: 0.02em;\">Beyond the ten questions<\/h4><p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #000; margin: 0 0 24px;\">What Freenome holds is not only blood-test technology. It is a card the company describes, in its own words, as one that only two companies hold: a blood-based colorectal cancer test that has FDA approval and meets the coverage requirements of the Centers for Medicare and Medicaid Services. A prospective study that enrolled more than 48,000 people stands behind it, and 40 million to 50 million people in the United States remain unscreened. It has taken in about $1.6 billion since inception, and piled up $1.5 billion of losses behind that.<\/p><p style=\"font-family: 'Newsreader', Georgia, 'Times New Roman', serif; font-size: 20px; line-height: 1.65; letter-spacing: 0; color: #000; margin: 0;\">But the right to play that card in the United States as a stand-alone colorectal cancer test is not the company&rsquo;s.<\/p><div aria-hidden=\"true\" style=\"position: absolute; left: 0; right: 0; bottom: 0; height: 60px; background: linear-gradient(to bottom, rgba(250,250,250,0) 0%, rgba(250,250,250,0.85) 100%); pointer-events: none;\"><\/div><\/div>\n  <a href=\"https:\/\/buy.stripe.com\/4gMcN45320Ojcp50Iz67S0o?client_reference_id=freenome-en\" style=\"display: inline-block; background: #daa241; color: #fff; padding: 18px 48px; font-size: 16px; font-weight: 700; text-decoration: none; letter-spacing: 0.08em; transition: background 0.2s;\" onmouseover=\"this.style.background='#b88a36'\" onmouseout=\"this.style.background='#daa241'\">\n    Full access for $25 &rarr;\n  <\/a>\n\n  <div style=\"margin: 60px 0 0; text-align: left;\">\n    <a href=\"https:\/\/tomorrowaccess.com\/en\/s-1-journal\" style=\"font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 16px; font-weight: 700; color: #daa241; text-decoration: none; letter-spacing: 0.02em;\">&larr; Back to S-1 Journal<\/a>\n  <\/div>\n\n<\/div><div class=\"s1-paywall-locked\" aria-hidden=\"true\" style=\"display:none;\"><\/div><div class=\"s1-article-footer\" style=\"margin: 16px 0 0; padding: 8px 30px 36px; background: transparent; font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 13px; color: #666; line-height: 1.8; text-align: center;\">\n  <div style=\"max-width: 680px; margin: 0 auto;\">\n    <p style=\"margin: 0 0 18px;\">This article is an explainer for informational purposes only. It is not investment advice or a solicitation to invest. Any investment decision is your own responsibility. The facts here are based on each company&rsquo;s S-1 filing but are not guaranteed to be accurate or complete. Please consult the primary filing on <a href=\"https:\/\/www.sec.gov\/cgi-bin\/browse-edgar?action=getcompany&type=S-1&dateb=&owner=include&count=40\" target=\"_blank\" rel=\"noopener\" style=\"color: #daa241; text-decoration: underline; text-underline-offset: 2px;\">SEC EDGAR<\/a>.<\/p>\n    <p style=\"margin: 0;\"><a href=\"https:\/\/tomorrowaccess.com\/en\/s-1-journal#sales-info\" style=\"color: #daa241; text-decoration: underline; text-underline-offset: 3px; font-weight: 700;\">Pricing &amp; terms &rarr;<\/a><\/p>\n  <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>S-1 Journal The 10 Questions | Every S-1, decoded through the same 10 questions. Freenome It Can Find Colorect [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":24356,"parent":20744,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_yoast_wpseo_focuskw":"Freenome S-1","_yoast_wpseo_title":"Freenome (FRNM) S-1, Explained: The Approved Blood Test It Does Not Sell on Its Own %%sep%% %%sitename%%","_yoast_wpseo_metadesc":"A blood test for colorectal cancer won FDA approval in July 2026. But the company selling it in the United States as a stand-alone test is Abbott, and what Freenome gets is an upfront payment, milestones and tiered royalties. A reading of the filing from a company that has taken in about $1.6 billion.","_yoast_wpseo_canonical":"","_yoast_wpseo_opengraph-title":"","_yoast_wpseo_opengraph-description":"","_yoast_wpseo_twitter-title":"","_yoast_wpseo_twitter-description":"","_uag_custom_page_level_css":"","eventcal-data-date-start":"","eventcal-data-date-end":"","eventcal-data-url":"","eventcal-data-place":"","eventcal-data-capacity":"","eventcal-data-ticket":"","eventcal-data-report":"","eventcal-data-note":"","mentoring-company":"","mentoring-position":"","mentoring-name":"","mentoring-url":"","mentoring-text-top":"","mentoring-text-01":"","mentoring-text-02":"","mentoring-text-03":"","mentoring-images":"","mentoring-logo":"","expert-pitch-data-thumbnail":"https:\/\/www.youtube.com\/embed\/M7DlaXKYhLw","expert-pitch-data-youtube":"","expert-pitch-data-date":"2022.03.01 TUE 12:00-13:00","expert-pitch-data-name":"Global Brain, Partner US office \u4e00\u5bae \u7fd4\u5e73\u6c0f","expert-pitch-data-excerpt":"\u91d1\u878d\u5e02\u5834\u304c\u5927\u304d\u304f\u5909\u308f\u308d\u3046\u3068\u3057\u3066\u3044\u307e\u3059\u3002 \u3053\u308c\u307e\u3067\u306f\u65e7\u6765\u306e\u9280\u884c\u304c\u307b\u307c\u5168\u3066\u306e\u6a5f\u80fd\u3092\u6301\u3063\u3066\u3044\u307e\u3057\u305f\u304c\u3001\u304a\u91d1\u3092\u8caf\u3081\u308b\u3001\u9001\u91d1\u3059\u308b\u3001\u6c7a\u6e08\u3059\u308b\u3001\u306a\u3069\u306e\u6a5f\u80fd\u304c\u7d30\u5206\u5316\u3057\u3066\u3001\u3055\u307e\u3056\u307e\u306a\u4eba\u304c\u500b\u3005\u306e\u30b5\u30fc\u30d3\u30b9\u3092\u63d0\u4f9b\u3067\u304d\u308b\u6642\u4ee3\u306b\u306a\u308a\u307e\u3057\u305f\u3002 \u3055\u3089\u306bAI\u306e\u6280\u8853\u3084\u81a8\u5927\u306a\u91cf\u3092\u51e6\u7406\u3067\u304d\u308b\u6280\u8853\u3001\u30d6\u30ed\u30c3\u30af\u30c1\u30a7\u30fc\u30f3\u6280\u8853\u306a\u3069\u3082\u6210\u719f\u3057\u3066\u304d\u305f\u3053\u3068\u3082\u3042\u308a\u3001\u305d\u306e\u52d5\u304d\u306f\u52a0\u901f\u3057\u3066\u3044\u307e\u3059\u3002 \u52d5\u304d\u304c\u6fc0\u3057\u3044\u30d5\u30a3\u30f3\u30c6\u30c3\u30af\u306b\u3064\u3044\u3066\u3001\u6295\u8cc7\u304c\u6d3b\u767a\u3067\u3001\u4eca\u5e74\u306f\u30b0\u30ed\u30fc\u30d0\u30eb\u6295\u8cc7\u3068Fintech\u306a\u3069\u306b\u3082\u6ce8\u529b\u3055\u308c\u3066\u3044\u304fGlobal Brain Partner \u4e00\u5bae\u6c0f\u3068\u6700\u65b0\u60c5\u5831\u3092\u304a\u5c4a\u3051\u3057\u307e\u3059\u3002","expert-pitch-data-download-file":"","expert-pitch-data-peatix":"","expert-pitch-data-whitepaper-show":false,"common-label-text":"","_locale":"en_US","_original_post":"https:\/\/tomorrowaccess.com\/?page_id=21137","footnotes":""},"class_list":["post-21163","page","type-page","status-publish","has-post-thumbnail","hentry","en-US"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Freenome (FRNM) S-1, Explained: The Approved Blood Test It Does Not Sell on Its Own | Tomorrow Access<\/title>\n<meta name=\"description\" content=\"A blood test for colorectal cancer won FDA approval in July 2026. But the company selling it in the United States as a stand-alone test is Abbott, and what Freenome gets is an upfront payment, milestones and tiered royalties. A reading of the filing from a company that has taken in about $1.6 billion.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tomorrowaccess.com\/en\/s-1-journal\/freenome-2026\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Freenome (FRNM) S-1, Explained: The Approved Blood Test It Does Not Sell on Its Own | Tomorrow Access\" \/>\n<meta property=\"og:description\" content=\"A blood test for colorectal cancer won FDA approval in July 2026. But the company selling it in the United States as a stand-alone test is Abbott, and what Freenome gets is an upfront payment, milestones and tiered royalties. A reading of the filing from a company that has taken in about $1.6 billion.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tomorrowaccess.com\/en\/s-1-journal\/freenome-2026\" \/>\n<meta property=\"og:site_name\" content=\"Tomorrow Access\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TomorrowAccess\" \/>\n<meta property=\"article:modified_time\" content=\"2026-10-27T05:16:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tomorrowaccess.com\/wp-content\/uploads\/2026\/08\/freenome-en-og.png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tomorrowaccess.com\/wp-content\/uploads\/2026\/08\/freenome-en-og.png\" \/>\n<meta name=\"twitter:site\" content=\"@TomorrowAccess\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/tomorrowaccess.com\\\/en\\\/s-1-journal\\\/freenome-2026\",\"url\":\"https:\\\/\\\/tomorrowaccess.com\\\/en\\\/s-1-journal\\\/freenome-2026\",\"name\":\"Freenome (FRNM) S-1, Explained: The Approved Blood Test It Does Not Sell on Its Own | Tomorrow Access\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/tomorrowaccess.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/tomorrowaccess.com\\\/en\\\/s-1-journal\\\/freenome-2026#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/tomorrowaccess.com\\\/en\\\/s-1-journal\\\/freenome-2026#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/tomorrowaccess.com\\\/wp-content\\\/uploads\\\/2026\\\/10\\\/s1-card-freenome-2026-en.jpg\",\"datePublished\":\"2026-09-03T20:08:47+00:00\",\"dateModified\":\"2026-10-27T05:16:41+00:00\",\"description\":\"A blood test for colorectal cancer won FDA approval in July 2026. But the company selling it in the United States as a stand-alone test is Abbott, and what Freenome gets is an upfront payment, milestones and tiered royalties. A reading of the filing from a company that has taken in about $1.6 billion.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/tomorrowaccess.com\\\/en\\\/s-1-journal\\\/freenome-2026#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/tomorrowaccess.com\\\/en\\\/s-1-journal\\\/freenome-2026\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/tomorrowaccess.com\\\/en\\\/s-1-journal\\\/freenome-2026#primaryimage\",\"url\":\"https:\\\/\\\/tomorrowaccess.com\\\/wp-content\\\/uploads\\\/2026\\\/10\\\/s1-card-freenome-2026-en.jpg\",\"contentUrl\":\"https:\\\/\\\/tomorrowaccess.com\\\/wp-content\\\/uploads\\\/2026\\\/10\\\/s1-card-freenome-2026-en.jpg\",\"width\":1536,\"height\":1024,\"caption\":\"S-1\u30b8\u30e3\u30fc\u30ca\u30eb Freenome\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/tomorrowaccess.com\\\/en\\\/s-1-journal\\\/freenome-2026#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"\u30db\u30fc\u30e0\",\"item\":\"https:\\\/\\\/tomorrowaccess.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"S-1 Journal \u2014 Every S-1, Explained Through the Same 10 Questions\",\"item\":\"https:\\\/\\\/tomorrowaccess.com\\\/en\\\/s-1-journal\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"It Can Find Colorectal Cancer in Blood. Someone Else Sells That Test Alone.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/tomorrowaccess.com\\\/#website\",\"url\":\"https:\\\/\\\/tomorrowaccess.com\\\/\",\"name\":\"Tomorrow Access\",\"description\":\"Tomorrow Access Homepage\",\"publisher\":{\"@id\":\"https:\\\/\\\/tomorrowaccess.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/tomorrowaccess.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/tomorrowaccess.com\\\/#organization\",\"name\":\"Tomorrow Access\",\"url\":\"https:\\\/\\\/tomorrowaccess.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/tomorrowaccess.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/tomorrowaccess.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/ta-ogp.jpg\",\"contentUrl\":\"https:\\\/\\\/tomorrowaccess.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/ta-ogp.jpg\",\"width\":2400,\"height\":1260,\"caption\":\"Tomorrow Access\"},\"image\":{\"@id\":\"https:\\\/\\\/tomorrowaccess.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/TomorrowAccess\",\"https:\\\/\\\/x.com\\\/TomorrowAccess\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/tomorrow-access\",\"https:\\\/\\\/www.youtube.com\\\/channel\\\/UCz2iUaHKT-gK0ijM0_iFDeA\"],\"legalName\":\"Tomorrow Access LLC\",\"alternateName\":[\"\u30c8\u30a5\u30e2\u30ed\u30fc\u30a2\u30af\u30bb\u30b9\",\"Tomorrow Access LLC\"],\"description\":\"Silicon Valley-based consulting firm supporting Japanese companies with U.S. expansion, new business development and corporate venture capital (CVC), and mentoring startups.\",\"foundingDate\":\"2021\",\"slogan\":\"BUILD YOUR OWN PATH\",\"address\":{\"@type\":\"PostalAddress\",\"addressRegion\":\"CA\",\"addressCountry\":\"US\"},\"areaServed\":[{\"@type\":\"Country\",\"name\":\"United States\"},{\"@type\":\"Country\",\"name\":\"Japan\"}],\"knowsLanguage\":[\"ja\",\"en\"],\"knowsAbout\":[\"Silicon Valley\",\"U.S. market entry for Japanese companies\",\"Corporate venture capital (CVC)\",\"New business development\",\"Startup investment\",\"Startup mentoring\"],\"founder\":{\"@id\":\"https:\\\/\\\/tomorrowaccess.com\\\/#\\\/schema\\\/person\\\/ken-sobajima\"},\"contactPoint\":{\"@type\":\"ContactPoint\",\"contactType\":\"sales\",\"url\":\"https:\\\/\\\/tomorrowaccess.com\\\/en\\\/contact\",\"availableLanguage\":[\"ja\",\"en\"]}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/tomorrowaccess.com\\\/#\\\/schema\\\/person\\\/ken-sobajima\",\"name\":\"Ken Sobajima\",\"alternateName\":\"\u508d\u5cf6 \u5065\u53cb\",\"jobTitle\":\"Founder & CEO\",\"worksFor\":{\"@id\":\"https:\\\/\\\/tomorrowaccess.com\\\/#organization\"},\"description\":\"Founder & CEO of Tomorrow Access. 25 years at a major Japanese telecom, including heading U.S. investments for its corporate venture fund; based in Silicon Valley since 2015.\",\"award\":[\"Global Corporate Venturing Rising Stars 2019\",\"Global Corporate Venturing Top 50 Emerging Leaders 2021\"],\"sameAs\":[\"https:\\\/\\\/www.linkedin.com\\\/in\\\/sobazy\\\/\"],\"knowsLanguage\":[\"ja\",\"en\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Freenome (FRNM) S-1, Explained: The Approved Blood Test It Does Not Sell on Its Own | Tomorrow Access","description":"A blood test for colorectal cancer won FDA approval in July 2026. But the company selling it in the United States as a stand-alone test is Abbott, and what Freenome gets is an upfront payment, milestones and tiered royalties. A reading of the filing from a company that has taken in about $1.6 billion.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/tomorrowaccess.com\/en\/s-1-journal\/freenome-2026","og_locale":"en_US","og_type":"article","og_title":"Freenome (FRNM) S-1, Explained: The Approved Blood Test It Does Not Sell on Its Own | Tomorrow Access","og_description":"A blood test for colorectal cancer won FDA approval in July 2026. But the company selling it in the United States as a stand-alone test is Abbott, and what Freenome gets is an upfront payment, milestones and tiered royalties. A reading of the filing from a company that has taken in about $1.6 billion.","og_url":"https:\/\/tomorrowaccess.com\/en\/s-1-journal\/freenome-2026","og_site_name":"Tomorrow Access","article_publisher":"https:\/\/www.facebook.com\/TomorrowAccess","article_modified_time":"2026-10-27T05:16:41+00:00","og_image":[{"url":"https:\/\/tomorrowaccess.com\/wp-content\/uploads\/2026\/08\/freenome-en-og.png","type":"","width":"","height":""}],"twitter_card":"summary_large_image","twitter_image":"https:\/\/tomorrowaccess.com\/wp-content\/uploads\/2026\/08\/freenome-en-og.png","twitter_site":"@TomorrowAccess","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/tomorrowaccess.com\/en\/s-1-journal\/freenome-2026","url":"https:\/\/tomorrowaccess.com\/en\/s-1-journal\/freenome-2026","name":"Freenome (FRNM) S-1, Explained: The Approved Blood Test It Does Not Sell on Its Own | Tomorrow Access","isPartOf":{"@id":"https:\/\/tomorrowaccess.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/tomorrowaccess.com\/en\/s-1-journal\/freenome-2026#primaryimage"},"image":{"@id":"https:\/\/tomorrowaccess.com\/en\/s-1-journal\/freenome-2026#primaryimage"},"thumbnailUrl":"https:\/\/tomorrowaccess.com\/wp-content\/uploads\/2026\/10\/s1-card-freenome-2026-en.jpg","datePublished":"2026-09-03T20:08:47+00:00","dateModified":"2026-10-27T05:16:41+00:00","description":"A blood test for colorectal cancer won FDA approval in July 2026. But the company selling it in the United States as a stand-alone test is Abbott, and what Freenome gets is an upfront payment, milestones and tiered royalties. A reading of the filing from a company that has taken in about $1.6 billion.","breadcrumb":{"@id":"https:\/\/tomorrowaccess.com\/en\/s-1-journal\/freenome-2026#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/tomorrowaccess.com\/en\/s-1-journal\/freenome-2026"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/tomorrowaccess.com\/en\/s-1-journal\/freenome-2026#primaryimage","url":"https:\/\/tomorrowaccess.com\/wp-content\/uploads\/2026\/10\/s1-card-freenome-2026-en.jpg","contentUrl":"https:\/\/tomorrowaccess.com\/wp-content\/uploads\/2026\/10\/s1-card-freenome-2026-en.jpg","width":1536,"height":1024,"caption":"S-1\u30b8\u30e3\u30fc\u30ca\u30eb Freenome"},{"@type":"BreadcrumbList","@id":"https:\/\/tomorrowaccess.com\/en\/s-1-journal\/freenome-2026#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"\u30db\u30fc\u30e0","item":"https:\/\/tomorrowaccess.com\/en\/"},{"@type":"ListItem","position":2,"name":"S-1 Journal \u2014 Every S-1, Explained Through the Same 10 Questions","item":"https:\/\/tomorrowaccess.com\/en\/s-1-journal"},{"@type":"ListItem","position":3,"name":"It Can Find Colorectal Cancer in Blood. Someone Else Sells That Test Alone."}]},{"@type":"WebSite","@id":"https:\/\/tomorrowaccess.com\/#website","url":"https:\/\/tomorrowaccess.com\/","name":"Tomorrow Access","description":"Tomorrow Access Homepage","publisher":{"@id":"https:\/\/tomorrowaccess.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/tomorrowaccess.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/tomorrowaccess.com\/#organization","name":"Tomorrow Access","url":"https:\/\/tomorrowaccess.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/tomorrowaccess.com\/#\/schema\/logo\/image\/","url":"https:\/\/tomorrowaccess.com\/wp-content\/uploads\/2022\/10\/ta-ogp.jpg","contentUrl":"https:\/\/tomorrowaccess.com\/wp-content\/uploads\/2022\/10\/ta-ogp.jpg","width":2400,"height":1260,"caption":"Tomorrow Access"},"image":{"@id":"https:\/\/tomorrowaccess.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/TomorrowAccess","https:\/\/x.com\/TomorrowAccess","https:\/\/www.linkedin.com\/company\/tomorrow-access","https:\/\/www.youtube.com\/channel\/UCz2iUaHKT-gK0ijM0_iFDeA"],"legalName":"Tomorrow Access LLC","alternateName":["\u30c8\u30a5\u30e2\u30ed\u30fc\u30a2\u30af\u30bb\u30b9","Tomorrow Access LLC"],"description":"Silicon Valley-based consulting firm supporting Japanese companies with U.S. expansion, new business development and corporate venture capital (CVC), and mentoring startups.","foundingDate":"2021","slogan":"BUILD YOUR OWN PATH","address":{"@type":"PostalAddress","addressRegion":"CA","addressCountry":"US"},"areaServed":[{"@type":"Country","name":"United States"},{"@type":"Country","name":"Japan"}],"knowsLanguage":["ja","en"],"knowsAbout":["Silicon Valley","U.S. market entry for Japanese companies","Corporate venture capital (CVC)","New business development","Startup investment","Startup mentoring"],"founder":{"@id":"https:\/\/tomorrowaccess.com\/#\/schema\/person\/ken-sobajima"},"contactPoint":{"@type":"ContactPoint","contactType":"sales","url":"https:\/\/tomorrowaccess.com\/en\/contact","availableLanguage":["ja","en"]}},{"@type":"Person","@id":"https:\/\/tomorrowaccess.com\/#\/schema\/person\/ken-sobajima","name":"Ken Sobajima","alternateName":"\u508d\u5cf6 \u5065\u53cb","jobTitle":"Founder & CEO","worksFor":{"@id":"https:\/\/tomorrowaccess.com\/#organization"},"description":"Founder & CEO of Tomorrow Access. 25 years at a major Japanese telecom, including heading U.S. investments for its corporate venture fund; based in Silicon Valley since 2015.","award":["Global Corporate Venturing Rising Stars 2019","Global Corporate Venturing Top 50 Emerging Leaders 2021"],"sameAs":["https:\/\/www.linkedin.com\/in\/sobazy\/"],"knowsLanguage":["ja","en"]}]}},"uagb_featured_image_src":{"full":["https:\/\/tomorrowaccess.com\/wp-content\/uploads\/2026\/10\/s1-card-freenome-2026-en.jpg",1536,1024,false],"thumbnail":["https:\/\/tomorrowaccess.com\/wp-content\/uploads\/2026\/10\/s1-card-freenome-2026-en.jpg",150,100,false],"medium":["https:\/\/tomorrowaccess.com\/wp-content\/uploads\/2026\/10\/s1-card-freenome-2026-en.jpg",300,200,false],"medium_large":["https:\/\/tomorrowaccess.com\/wp-content\/uploads\/2026\/10\/s1-card-freenome-2026-en.jpg",768,512,false],"large":["https:\/\/tomorrowaccess.com\/wp-content\/uploads\/2026\/10\/s1-card-freenome-2026-en.jpg",1024,683,false],"1536x1536":["https:\/\/tomorrowaccess.com\/wp-content\/uploads\/2026\/10\/s1-card-freenome-2026-en.jpg",1536,1024,false],"2048x2048":["https:\/\/tomorrowaccess.com\/wp-content\/uploads\/2026\/10\/s1-card-freenome-2026-en.jpg",1536,1024,false]},"uagb_author_info":{"display_name":"Ken","author_link":"https:\/\/tomorrowaccess.com\/news\/author\/ken"},"uagb_comment_info":0,"uagb_excerpt":"S-1 Journal The 10 Questions | Every S-1, decoded throu&hellip;","_links":{"self":[{"href":"https:\/\/tomorrowaccess.com\/wp-json\/wp\/v2\/pages\/21163","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tomorrowaccess.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/tomorrowaccess.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/tomorrowaccess.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/tomorrowaccess.com\/wp-json\/wp\/v2\/comments?post=21163"}],"version-history":[{"count":2,"href":"https:\/\/tomorrowaccess.com\/wp-json\/wp\/v2\/pages\/21163\/revisions"}],"predecessor-version":[{"id":23823,"href":"https:\/\/tomorrowaccess.com\/wp-json\/wp\/v2\/pages\/21163\/revisions\/23823"}],"up":[{"embeddable":true,"href":"https:\/\/tomorrowaccess.com\/wp-json\/wp\/v2\/pages\/20744"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tomorrowaccess.com\/wp-json\/wp\/v2\/media\/24356"}],"wp:attachment":[{"href":"https:\/\/tomorrowaccess.com\/wp-json\/wp\/v2\/media?parent=21163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}