AI Meets Oncology: Caris Life Sciences' $5.35B IPO Tests Investor Appetite for Precision Medicine
Caris Life Sciences, an AI-driven precision oncology company, is targeting a $5.35 billion valuation in its U.S. initial public offering, aiming to raise up to $423.5 million.
The Irving, Texas-based firm, backed by investment giants Sixth Street and Neuberger Berman, has already conducted 6.5 million molecular tests across 849,000 patient cases, establishing partnerships with over 100 biopharmaceutical firms, including Moderna Inc (NASDAQ:MRNA) and AbbVie (NYSE:ABBV), according to its prospectus filed with the U.S. Securities and Exchange Commission.
Don't Miss:
Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —
Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets –
The $5.35 billion target—based on 23.5 million shares priced between $16 and $18 each—marks a notable shift from Caris' 2021 private valuation of $7.83 billion, Reuters reported, reflecting both market recalibration and the challenges of commercializing precision medicine.
According to its filing, Caris generated $412.3 million in revenue in 2024—a 35% year-over-year increase—while posting a net loss of $257.1 million. In Q1 2025, the company reported $120.9 million in revenue and a narrowed net loss of $127 million, compared to $80.7 million in revenue and a $134.1 million loss during the same period in 2024, according to its filing—signaling improving margins and sustained top-line growth.
At its proposed valuation, Caris would trade at approximately 13 times sales, a premium to peers like Guardant Health (NASDAQ: GH) and Tempus AI (NASDAQ: TEM), Reuters reported.
Trending: Invest where it hurts — and help millions heal:.
According to the company's website, Caris was founded in 2008 by entrepreneur David D. Halbert, who was inspired by his father's cancer battle to develop more effective, data-driven diagnostics. Today, the company operates from its North Texas headquarters and has offices in Phoenix, New York, Cambridge, Massachusetts, Tokyo, Japan, and Basel, Switzerland, serving both U.S. and international markets.
Caris' proprietary AI platform, which integrates molecular science with machine learning, analyzes comprehensive genomic, transcriptomic, and proteomic data to guide cancer treatment. The company holds 27 issued patents along with over 170 applications pending worldwide, according to its website. Its flagship MI Cancer Seek test, cleared by the U.S. Food and Drug Administration in 2023, detects early-stage malignancies with what the company claims is unmatched accuracy, the company said at the time.
Caris will trade on the Nasdaq under the symbol CAI The offering is led by BofA Securities, J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, and Citigroup Global Markets. Grand View Research projects a 22.5% CAGR in the AI cancer diagnostics market through 2030, highlighting strong growth potential in this sector.Neuberger Berman has indicated it may purchase up to $75 million worth of shares in the IPO—signaling insider confidence in the company's long-term potential, according to Reuters.
Caris Life Sciences currently has one FDA-cleared diagnostic test, MI Cancer Seek, according to its filing.
Caris' pipeline includes investigational tools like FOLFIRSTai, an AI-based test for predicting chemotherapy response in metastatic colorectal cancer. While clinically validated, it remains unapproved by the FDA, according to the SEC filing, and stricter regulations could delay its commercialization.
Caris's proposed IPO is drawing attention as a potential marker for the viability of AI-driven healthcare, with Reuters noting the offering comes amid renewed interest in precision diagnostics.
Read Next:
Here's what Americans think you need to be considered wealthy.
Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can
Image: Shutterstock
Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market.
Get the latest stock analysis from Benzinga?
MODERNA (MRNA): Free Stock Analysis Report
This article AI Meets Oncology: Caris Life Sciences' $5.35B IPO Tests Investor Appetite for Precision Medicine originally appeared on Benzinga.com
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
21 minutes ago
- Yahoo
Razer Pro Click V2 Vertical Review: A Stellar Ergonomic Mouse
PCMag editors select and review products independently. If you buy through affiliate links, we may earn commissions, which help support our testing. The Razer Pro Click V2 Vertical mouse is not your average office peripheral. With a design shaped in partnership with ergonomics experts at Humanscale and a high-performance sensor borrowed from Razer's gaming lineup, this mouse is built to deliver both comfort and precision. It targets professionals who want to work longer with less strain, without settling for a basic input device. At $119.99, the Pro Click V2 Vertical lands in premium territory. But in return, it offers a smooth, deliberate experience with build quality and attention to detail that are easy to appreciate over time. The Pro Click V2 Vertical offers a satisfying blend of form and function, earning it our Editors' Choice award for ergonomic mice. The packaging feels like Razer spent significant effort designing it, but it's understated in a way that sets the tone for a professional rather than a gaming audience. Razer's usual neon green is absent. The box is minimal, with clean typography and a soft matte finish. Inside, the mouse is snugly cradled, accompanied by a USB-A wireless dongle and a USB-C-to-USB-A charging cable. There is no unnecessary clutter, which speaks to the product's seriousness. Holding the mouse for the first time confirms that impression. It weighs a substantial 5.29 ounces without feeling heavy, a balance that immediately suggests quality. The matte white plastic body feels smooth, and the soft-touch gray thumb rest offers a stable anchor point. The aesthetic leans toward modern and unobtrusive, fitting neatly into a professional desktop setup without drawing attention. The Pro Click V2's most defining feature is its vertical orientation. It places your hand in a handshake-like position rather than flat on the desk. That orientation reduces forearm pronation and shifts the load off the wrist joint, one of the key contributors to repetitive strain injuries. While vertical mice can sometimes feel like ergonomic experiments, Razer's design is confident. The angle is steep enough to relieve strain but not so extreme that it feels unnatural, placing your hand in a natural handshake position. After a brief adjustment period, it becomes second nature. Over the course of initial testing, the ergonomic benefits become apparent, with reduced wrist tension compared with traditional mice. The button layout is intuitive. Left- and right-click buttons, a clickable scroll wheel, a DPI toggle on top, and multiple side buttons form the core controls. Each button feels well-placed, with crisp, satisfying clicks. Even the scroll wheel has just the right amount of resistance. Nothing feels loose or under-engineered. However, the mouse does not support some advanced scrolling features like HyperScroll free-spin mode or directional tilt scrolling, which some users may miss, that the non-vertical Pro Click V2 offers. That mouse is slightly cheaper, at $99. Build quality is a clear strength. The Pro Click V2 feels like it was constructed with long-term use in mind. Nothing creaks, flexes, or wobbles. The large glide pads on the bottom provide smooth movement across a desk mat or hard surface. Even the act of picking it up and setting it down feels solid. This is not a compact mouse. It favors medium or large hands and takes up noticeable space. That might be a drawback for minimalist setups or travel, but it benefits stability and comfort. The grip is relaxed rather than tense, and the design encourages a whole-hand movement style rather than finger flicking. What truly separates the Pro Click V2 from most other ergonomic mice is the sensor. Razer's Focus Pro 30K optical sensor is a component typically reserved for gaming mice, and its inclusion here is a statement. In testing, we found it delivers precise tracking, even on tricky surfaces like glass or reflective desks. That level of accuracy may seem unnecessary for office work, but it proves its value quickly. Moving between multiple displays, working with pixel-sensitive tasks like design or video editing, and making rapid, fine-tuned selections all benefit from the sensor's fidelity. It never jitters, skips, or hesitates. Adjustable DPI is accessible via a dedicated button, and users can set sensitivity ranges through Razer's Synapse software. Tracking is customizable up to 30,000dpi, which is more than anyone realistically needs for office use, but the granularity lets you tailor performance precisely. Razer's Synapse software allows for full control over button mapping, sensitivity curves, and profiles. You can set up different profiles for each app or device you use and switch among them on the fly. AI Prompt Master functionality is also included, allowing you to assign AI-driven shortcuts to mouse buttons by holding down the DPI button for one second. The software isn't as advanced as Logitech's G Hub or some enterprise-level tools, but it's well put together and works smoothly. It lets you remap buttons to things like keyboard shortcuts, media controls, or navigation, which can really boost your productivity. One small catch: to unlock all of Synapse's features, you'll need to create an account—something that might annoy users who value their privacy. That said, once you're logged in and set up, the software mostly runs quietly in the background. And if you'd rather skip it altogether, the mouse still works fine with basic functions right out of the box. Battery life is a standout feature. Razer claims up to six months of battery life under typical usage conditions. Initial testing suggests these numbers are realistic, with the battery showing minimal drain over extended use periods. Charging is handled via USB-C, and the mouse can be used while charging. The included cable is standard, rather than using a proprietary connector, which is always appreciated. There is no cradle or dock, but given the longevity between charges, that feels unnecessary. The Pro Click V2 supports three connection modes: Bluetooth, USB wireless dongle, and wired USB-C. A small switch on the underside lets you toggle between paired devices. Testing across multiple devices shows seamless switching with no noticeable lag or connectivity drop. This is an ideal setup for users who regularly juggle multiple machines. The HyperSpeed dongle is particularly reliable, offering low-latency performance that is essentially indistinguishable from wired use. If you are using the mouse for fast scrolling or rapid desktop work, you will appreciate the responsiveness. At this price, competitors include the Logitech MX Vertical, Logitech Lift, and Evoluent's VerticalMouse line. The MX Vertical is comparable in size and quality, but its sensor is less capable, and its battery life is shorter. The Lift is a great option for smaller hands, with a friendlier price, but it lacks the Pro Click V2's precision and polish. Evoluent's mice have long dominated the vertical space, especially for users with specific medical needs. However, their aesthetic is dated, and build quality varies between models. The Pro Click V2 feels more contemporary, more consistent, and frankly, more enjoyable to use. If you work at a desk for long hours and care about posture, the Pro Click V2 Vertical is worth considering. It suits coders, editors, analysts, and creative professionals who benefit from precision and long-term comfort. It is not ideal for travel or small workspaces, but it excels at a permanent desk. Gamers might prefer a traditional shape and lighter weight. Left-handed users will need to look elsewhere entirely, which is a real limitation. And if you are looking for the most customizable software suite, Razer's tools may feel modest. But for the majority of professional users, the Pro Click V2 Vertical delivers where it counts.
Yahoo
21 minutes ago
- Yahoo
Sam Altman said none of his 'best people' at OpenAI were enticed by Meta's $100 million signing bonuses
Meta tried to recruit OpenAI's top talent with $100 million signing bonuses, says Sam Altman. Altman said that so far, "none of our best people have decided to take them up on that." Meta recently made a $15 billion investment in data-labeling firm Scale AI. Sam Altman, the CEO of OpenAI, said Meta's attempts to poach his best staff with generous signing bonuses were not successful. Altman talked about the competition OpenAI faces from Meta on his brother's podcast "Uncapped with Jack Altman," in an episode that aired on Tuesday. "I've heard that Meta thinks of us as their biggest competitor, and I think it is rational for them to keep trying. Their current AI efforts have not worked as well as they've hoped," Altman said of Meta's $15 billion investment in data-labeling firm Scale AI. But Altman said he found it "crazy" when Meta tried to recruit OpenAI's employees by offering them $100 million signing bonuses if they jumped ship. "I'm really happy that at least so far, none of our best people have decided to take them up on that," Altman said. "People sort of look at the two paths and say, 'Alright, OpenAI's got a really good shot, a much better shot actually, delivering on superintelligence and also may eventually be the more valuable company,'" he continued. Meta has a $1.77 trillion market capitalization, and OpenAI was last valued at $300 billion in March. Altman said Meta's approach of growing its talent pool by dangling eye-watering pay packages could come at the expense of its culture. "The strategy of a ton of upfront guaranteed comp and that being the reason you tell someone to join, like really the degree to which they're focusing on that and not the work and not the mission, I don't think that's going to set up a great culture," Altman said. "There's many things I respect about Meta as a company, but I don't think they are a company that's like great at innovation," he added. The hunt for AI talent has been heating up as companies seek to dominate the field. Aravind Srinivas, the founder and CEO of AI search startup Perplexity, said in a March 2024 episode of the "Invest Like The Best" podcast that companies must offer "amazing incentives and immediate availability of compute" if they want to hire AI talent. "I tried to hire a very senior researcher from Meta, and you know what they said? 'Come back to me when you have 10,000 H100 GPUs,'" Srinivas said, referencing the AI chips made by Nvidia. Naveen Rao, the vice president of AI at Databricks, said in an interview with The Verge last year that there are fewer than 1,000 researchers who are capable of building frontier AI models. "It's like looking for LeBron James," Rao said. "There are just not very many humans who are capable of that." Representatives for OpenAI and Meta did not respond to requests for comment from Business Insider. Read the original article on Business Insider
Digital Trends
30 minutes ago
- Digital Trends
SpaceX reveals new target date for private crewed launch to ISS
SpaceX, partnering with NASA and Axiom Space, is aiming to blast a four-person crew to orbit at 3:42 a.m. ET on Sunday, June 22. The private Ax-4 mission was supposed to launch to the International Space Station (ISS) from Florida's Kennedy Space Center on June 10, but inclement weather in the ascent corridor forced the mission team to call off the effort. A plan to launch 24 hours later was also ditched following the discovery of a liquid oxygen leak on the rocket. Recommended Videos NASA has also been monitoring an air leak in the Russian Zvezda service module at the space station, an additional situation that prompted NASA, in coordination with its Russian counterpart Roscosmos, to delay the Ax-4 launch for safety reasons while they worked out what to do. Following repairs, pressure in the affected area stabilized, and NASA was able to announce a new target launch date. After patiently waiting in isolation at the Kennedy Space Center, the four crewmembers are now setting their sights on this Sunday, hoping that their long-awaited orbital adventure can finally begin. 'The change in a targeted launch date provides NASA time to continue evaluating space station operations after recent repair work in the aft (back) most segment of the International Space Station's Zvezda service module,' Axiom Space said in a release. Peggy Whitson, a former NASA astronaut and now director of human spaceflight at Axiom Space, will command the commercial mission. Flying with her in a SpaceX Crew Dragon capsule will be individuals from India, Poland, and Hungary, with each nation on the cusp of celebrating its first-ever mission to the space station. The mission will last about two weeks, with the four members living and working alongside the current ISS crew. Interested in watching SpaceX's first crewed launch since Crew-10's flight in March? Digital Trends has everything you need to know.
