Caris Life Sciences Kicks Off IPO Roadshow, Eyes Up to $5.35B Valuation
Caris Life Sciences, an Irving, TX-based AI-driven TechBio and precision medicine company, has initiated the roadshow for its initial public offering (IPO) of 23,529,412 shares of common stock. The company filed a Form S-1 with the SEC, granting underwriters a 30-day option to purchase up to 3,529,411 additional shares. The IPO price is expected to range from $16 to $18 per share, aiming for a valuation of $4.8 billion to $5.35 billion. Caris will list on the Nasdaq Global Select Market under the ticker “CAI.”
Leading the offering are BofA Securities, J.P. Morgan, and Goldman Sachs & Co. LLC. They are joined by Citigroup, TD Cowen, Evercore ISI, and Guggenheim Securities as book-running managers, while BTIG and Wolfe | Nomura Alliance will act as co-managers.
Caris specializes in molecular profiling and oncology diagnostics, having completed over 6.5 million tests for 849,000 unique cases. The firm collaborates with more than 100 biopharma companies and thousands of oncologists nationwide.
The IPO follows a $168 million private financing round in April 2025, bringing its total capital raised since 2018 to $1.86 billion. Proceeds will support the continued development of Caris’ precision medicine platform, focusing on advancing tools for early cancer detection, diagnostics, and therapy selection.