Overview

• Caris Life Sciences’s shares were priced at $21 on the Nasdaq under ticker CAI, above the planned range and valuing the company at about $5.9 billion.
• The offering included 23.5 million shares, with founder and CEO David Dean Halbert retaining a 41.7 percent stake after the IPO.
• In 2024 Caris reported $412.3 million in revenue and a net loss of $257.1 million, and it posted $120.9 million in first-quarter 2025 revenue with a narrower net loss of $127 million.
• The firm has conducted 6.5 million molecular tests across 849,000 patient cases and maintains partnerships with more than 100 biopharmaceutical companies, including Moderna and AbbVie.
• Caris’s MI Cancer Seek is its sole FDA-cleared diagnostic test and its pipeline of AI-driven tools such as FOLFIRSTai must clear regulatory approval as the market for AI cancer diagnostics is projected to grow at a 22.5 percent CAGR through 2030.