Reuters reports that Caris Life Sciences raised $494.1 million in its Nasdaq initial public offering
Image Source: Caris Life Sciences (LinkedIn)
On June 17, 2025, Caris Life Sciences® (Caris) announced the pricing of its initial public offering of 23,529,412 shares of its common stock, at a public offering price of $21.00 per share. In addition, Caris granted the underwriters a 30-day option to purchase up to an additional 3,529,411 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The shares began trading on the Nasdaq Global Select Market on June 18, 2025, under the ticker symbol “CAI.”
- IPO Pricing and Raised Capital: The company priced its IPO at $21 per share, which was above the initial proposed range. They raised over $494.1 million through the IPO by selling 23.5 million shares.
- Market Debut Performance: Caris Life Sciences’ shares opened at $27 and closed at $28 on their first day of trading, representing a significant jump from the IPO price. According to Bloomberg, the company’s market value reached $7.9 billion following the IPO.
BofA Securities, J.P. Morgan and Goldman Sachs & Co. LLC are acting as lead book-running managers for the offering. Citigroup is also acting as a book-running manager for the offering. TD Cowen, Evercore ISI and Guggenheim Securities are acting as additional book-running managers for the offering. BTIG and Wolfe | Nomura Alliance are acting as co-managers for the offering.
Caris Life Sciences® (Caris) is a leading, patient-centric, next-generation AI TechBio company and precision medicine pioneer that is actively developing and commercializing innovative solutions to transform healthcare. Through comprehensive molecular profiling (Whole Exome and Whole Transcriptome Sequencing) and the application of advanced AI and machine learning algorithms at scale, Caris has created the large-scale, multimodal clinico-genomic database and computing capability needed to analyze and further unravel the molecular complexity of disease. This convergence of next-generation sequencing, AI and machine learning technologies, and high-performance computing provides a differentiated platform to develop the latest generation of advanced precision medicine diagnostic solutions for early detection, diagnosis, monitoring, therapy selection and drug development.
Caris was founded with the belief and vision that combining a vast set of consistently generated molecular information with robust data-driven insights could realize the potential of precision medicine for patients. Headquartered in Irving, Texas, Caris has offices in Phoenix, New York, Cambridge (MA), Tokyo, Japan and Basel, Switzerland. Caris or its distributor partners provide services in the U.S. and other international markets.
For nearly 18 years, Caris Life Sciences® (Caris) has been pioneering the field of precision medicine in oncology by testing, sequencing and analyzing cancer tumors at the molecular level in order to validate diagnoses and treatment options for physicians and patients. Caris Life Sciences was honored as the Arizona Bioscience Company of the Year in 2022. The video below was recorded in 2022.