Caris Life Sciences (CAI) gave IPO investors something to celebrate in its NASDAQ debut. Shares of Caris Life Sciences (CAI) shot up 28.6 percent to open at $27.00 – up $6.00 from the IPO price – on Wednesday, June 18, 2025 – and ended their first day of NASDAQ trading at $28.00 – up $7.00 for a gain of 33.3 percent .
After the Juneteenth holiday break, Caris Life Sciences(CAI) shares opened today at $30.67 on Friday, June 20, 2025. Caris’ stock was trading at $29.07 – up $1.07 from its Wednesday close – at around 9:40 a.m. EDT today.
Caris is an AI TechBio precision medicine company focused on cancer, according to the prospectus.
The Irving, Texas-based company’s IPO was priced at $21.00 – $1.00 above the top of its $19.00-to-$20.00 price range – on Tuesday night, June 17, 2025. Early Monday, on June 16, the Caris IPO’s price range was raised from its original band of $16.00 to $18.00, according to an S-1/A filing.
Caris Life Sciences’ IPO consisted of 23.53 million shares – the number of shares in the prospectus. The company raised $494.12 million. At pricing, Caris Life Sciences had a market cap of about $5.8 billion.
BofA Securities, J.P. Morgan and Goldman Sachs were the lead book-runners. Citigroup was also a joint book-runner. TD Cowen, Evercore ISI and Guggenheim Securities completed the joint book-running team.
Neuberger Berman Investment Advisers LLC, the cornerstone investor, had indicated an interest in buying up to $75 million of stock in Caris Life Sciences’ IPO, through certain entities, the prospectus said.
Fighting Cancer with Data
Oncologists use Caris Life Sciences’ products to diagnose cancer and plan treatment, including the search for clinical trials to help their patients.
Caris Life Sciences, founded in 2008, has spent the last 17 years developing and building its “portfolio of comprehensive, proprietary molecular profiling solutions,” the prospectus said.
The company’s oncology datasets are “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,” the prospectus said.
Caris Life Sciences’ current commercial product portfolio “is focused on oncology and consists of MI Profile, our tissue-based molecular profiling solution that has generated the majority of our revenue to date, and Caris Assure, our novel, universal blood-based molecular profiling solution that was broadly launched in the first quarter of 2024 for therapy selection.”
As of March 31, 2025, Caris Life Sciences had $400 million in outstanding debt under its existing term loan, according to the prospectus. The company may use some of the IPO proceeds to pay off some debt.
Caris Life Sciences is not profitable: Net loss of $248.7 million on revenue of $452.5 million for the 12 months that ended March 31, 2025, according to financial statements in the prospectus.
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