AI cancer care firm Caris Life Sciences goes public on Nasdaq, valuing company at $5.9 billion

From Yahoo Finance: 2025-06-18 11:52:00

Caris Life Sciences, a cancer diagnostics biotech firm, had its IPO on Wednesday, June 18, with shares trading under the ticker CAI. The company utilizes AI and machine learning for precision medicine, with over 1,700 employees and 100 biopharmaceutical partners. The IPO price was set at $21, valuing the company at $5.9 billion.

Founded in 2008 by David Dean Halbert, Caris Life Sciences specializes in cancer diagnosis and treatment through molecular analysis. The company incurred net losses of $281.9 million and $341.4 million in 2024 and 2023, respectively, with revenue of $412.3 million and $306.1 million. Additional losses are expected in the future.

Caris Life Sciences’s IPO will offer 23,529,412 shares, with CEO Halbert retaining 41.7% ownership post-IPO. Shares were priced at $21, above the planned range of $19 to $20. The IPO is a significant move for the biotech sector, following a trend of fintech companies going public successfully.



Read more at Yahoo Finance: All eyes on the stock price today as the AI cancer care firm makes its Nasdaq debut