Caris Life Sciences completes IPO
American biotechnology company Caris Life Sciences has been listed on the Nasdaq stock exchange. During the IPO, the share price rose 29% compared to the initial price. As a result of the offering, the company’s market capitalization approached US$8 billion.
Caris CEO David Spetzler noted the successful results of the offering. According to him, the funds raised will go towards developing key business areas. Part of the capital will also go to reducing debt.
In early 2025, Caris Life Sciences held a round of financing, which raised US$170 million. In total, the company has received nearly US$2 billion in investments over the past 10 years. Although Caris has been operating in the healthcare market for 17 years, this is its first time on the stock exchange.
Technologies and products
The company chose a favorable period for its IPO. At the end of 2024, Caris received FDA approval for its MI Cancer Seek test. The test is designed for genomic profiling and helps select appropriate cancer therapies.
Caris’s main areas of activity are cancer diagnosis and treatment. Key products include:
– Caris Assure — a liquid biopsy test that helps select an effective treatment method;
– MI Profile — a platform for sequencing tumor tissue.
The company uses artificial intelligence and machine learning technologies for its tests. This approach has made it possible to identify 915,000 pathogenic mutations. On average, about 130 new mutations have been identified in each person.
Financial indicators
In 2024, Caris Life Sciences’ revenue exceeded US$412 million. This figure was US$306 million in 2023. In the first quarter of 2025, the company earned US$121 million.
The volume of clinical cases processed by Caris continues to grow as well. In 2024, it increased by 26%, and by another 31% in the first three months of 2025.
Industry trends
Caris Life’s successful IPO is a sign of a potential revival in the U.S. stock market. While the beginning of 2025 was subdued, activity began to pick up at the end of the first quarter. Investors are showing increased interest in fintech and technology companies.
In addition to Caris, both Circle and Chime went public in 2025 and received high valuations. The insurance technology firm Slide entered the market and significantly increased its valuation.
The healthcare sector showed activity in the IPO market as well. Significant IPOs include:
1. Hinge Health is a digital healthcare platform. Insight Partners is the key investor.
2. Omada Health offers virtual healthcare services. After listing on the New York Stock Exchange, the company’s shares rose sharply.
Despite this activity, experts believe that the healthcare sector remains undervalued. However, the consistently high number of IPOs indicates long-term investor interest.
