The IPO Buzz: Caris Life Sciences Pops in Debut & Extends Gains After Holiday

Caris Life Sciences (CAI) gave IPO investors something to celebrate in its NASDAQ debut. Shares of Caris Life Sciences (CAI) shot up  28.6 percent to open at $27.00 – up $6.00 from the IPO price – on Wednesday, June 18, 2025 – and ended their first day of NASDAQ trading at $28.00 – up $7.00 for a gain of 33.3 percent . After the Juneteenth holiday break, Caris Life Sciences (CAI) shares opened today above $30.00 on Friday, June 20, 2025. Caris is an AI TechBio precision medicine company focused on cancer, according to the prospectus. The Irving, Texas-based company’s IPO was priced at $21.00 – $1.00 above the top of its $19.00-to-$20.00 price range – on Tuesday night, June 17, 2025.  Early Monday, on June 16, the Caris IPO’s price range was raised from its original band of $16.00 to $18.00, according to an S-1/A filing. Caris Life Sciences’ IPO consisted of 23.53 million shares –  the number of shares in the prospectus. The company raised $494.12 million. At pricing, Caris Life Sciences had a market cap of about $5.8 billion. BofA Securities, J.P. Morgan and Goldman Sachs were the lead book-runners. Citigroup was also a joint book-runner. TD Cowen, Evercore ISI and Guggenheim Securities completed the joint book-running team. Neuberger Berman Investment Advisers LLC, the cornerstone investor, had indicated an interest in buying up to $75 million of stock in Caris Life Sciences’ IPO, through certain entities,  the prospectus said. Fighting Cancer with Data Oncologists use Caris Life Sciences’ products to diagnose cancer and plan treatment, including the search for clinical trials to help their patients. Caris Life Sciences, founded in 2008, has spent the last 17 years developing and building its “portfolio of comprehensive, proprietary molecular profiling solutions,” the prospectus said. The company’s oncology datasets are “based on the more than 6.5 million tests we have run on over 849,000 cases, which have generated measurements of over 38 billion molecular markers,”  the prospectus said. Caris Life Sciences’ current commercial product portfolio “is focused on oncology and consists of MI Profile, our tissue-based molecular profiling solution that has generated the majority of our revenue to date, and Caris Assure, our novel, universal blood-based molecular profiling solution that was broadly launched in the first quarter of 2024 for therapy selection.” As of March 31, 2025, Caris Life Sciences had $400 million in outstanding debt under its existing term loan, according to the prospectus. The company may use some of the IPO proceeds to pay off some debt. Caris Life Sciences is not profitable: Net loss of $248.7 million on revenue of $452.5 million for the 12 months that ended March 31, 2025, according to financial statements in the prospectus. (For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com  website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the  shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.