Caris Life Sciences, Inc. (CAI Proposed), an AI TechBio precision medicine pioneer focused on cancer, increased its IPO price range to $19.00 to $20.00 – up from its initial price range of $16.00 to $18.00 – and kept the number of shares at 23.53 million shares – to raise $458.84 million, if priced at $19.50, the mid-point of its new range, according to an S-1/A filing early today – Monday, June 16, 2025.
At pricing, Caris Life Sciences would have a market cap of $5.53 billion – if priced at the $19.50 mid-point. The oncology-focused precision medicine company disclosed its IPO’s terms and launched its deal a week ago today.
Bankers expect to price Caris Life Sciences’ IPO on Tuesday night, June 17, 2025, to trade on Wednesday, June 18. This is a NASDAQ listing.
BofA Securities, J.P.Morgan, Goldman Sachs and Citigroup are the lead joint book-runners. TD Cowen, Evercore ISI and Guggenheim Securities round out the joint book-running team.
Caris Life Sciences, founded in 2008, describes itself as “a leading patient-centric, next-generation AI TechBio company and precision medicine pioneer,” according to the prospectus. The company is based in Irving, Texas.
“We have spent the last 17 years developing and building our portfolio of comprehensive, proprietary molecular profiling solutions and generating what we believe to be one of the largest and most comprehensive multi-modal clinico-genomic datasets in oncology based on the more than 6.5 million tests we have run on over 849,000 cases, which have generated measurements of over 38 billion molecular markers,” Caris Life Sciences said in the prospectus.
Caris Life Sciences is not profitable, according to the financial statements in the prospectus: Net loss of $248.7 million on revenue of $452.5 million for the 12 months that ended March 31, 2025.
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