From Yahoo Finance: 2025-06-17 21:01:00

Caris Life Sciences plans to go public in the U.S. with a $5.35 billion valuation, seeking to raise up to $423.5 million. The company has conducted 6.5 million molecular tests and has partnerships with over 100 biopharmaceutical firms, including Moderna and AbbVie.

Caris generated $412.3 million in revenue in 2024, with a 35% year-over-year increase. The company reported $120.9 million in revenue in Q1 2025, signaling improving margins and sustained growth.

Caris would trade at approximately 13 times sales at its proposed valuation, a premium to its peers. The company’s AI platform integrates molecular science with machine learning to guide cancer treatment.

Neuberger Berman may purchase up to $75 million worth of shares in the IPO, reflecting insider confidence in the company’s potential. Caris currently has one FDA-cleared diagnostic test, MI Cancer Seek.

Caris’ pipeline includes investigational tools like FOLFIRSTai for predicting chemotherapy response in metastatic colorectal cancer. The company’s IPO is seen as a marker for AI-driven healthcare viability amid renewed interest in precision diagnostics.

Read more: Caris Life Sciences’ $5.35B IPO Tests Investor Appetite for Precision Medicine