Caris Life Sciences, an AI precision oncology platform, has increased its IPO size to raise $459 million.

On Monday, Caris Life Sciences (CAI.US), an artificial intelligence platform focused on tumor molecular diagnostics, announced an increase in the price range for its upcoming initial public offering (IPO). The company, based in Irving, Texas, plans to issue 23.5 million shares at a price range of $19 to $20 per share, raising a total of $459 million. The previously reported price range was $16 to $18 per share. Insiders are expected to subscribe to shares worth $75 million (representing 16% of the offering). Based on the revised midpoint of the range, Caris Life Sciences' fundraising amount will be 15% higher than originally expected. The company is dedicated to developing and commercializing a precision medicine diagnostic platform that integrates next-generation gene sequencing, artificial intelligence, and machine learning technologies to provide solutions for cancer treatment. Caris Life Sciences stated that its platform is built on 6.5 million tests from over 849,000 clinical cases, analyzing over 38 billion molecular markers. The current commercial product line focuses on the oncology field, mainly including the tissue molecular profiling solution MI Profile (the company's main source of revenue to date) and the blood molecular profiling product Caris Assure, to be fully launched in the first quarter of 2024, for treatment selection. Caris Life Sciences was founded in 2008 and achieved $452 million in revenue in the 12 months leading up to March 31, 2025. The company plans to list on the Nasdaq under the ticker symbol "CAI". Bank of America Corp Securities, JPMorgan, Goldman Sachs Group, Inc., Citi, TD Cowen, Evercore ISI, and Guggenheim Securities are serving as joint bookrunners for the IPO, with pricing expected to be completed during the week of June 16, 2025.