Jun. 18 at 7:10 PM
$VOYG $CAI $IBB $CHYM Biotech is back in focus as Caris Life Sciences (CAI +26.52%) surged in its IPO, opening at
$27 (up 28.6% from its
$21 offer) and reaching
$29.40 intraday. Its
$7.6B market cap puts it ahead of most stocks in the biotech ETF (IBB +0.45%).
Caris raised $ 494M via 23.53M shares, priced above range, backed by top underwriters. It joins recent debuts like CHYM, VOYG, and CRCL, showing strong investor demand for fresh, high-profile listings.
Q1 losses narrowed to
$102.6M as revenue rose 50% to
$120.9M. From 2019–2024, revenue grew 28% annually.
Caris, with 1,769 staff, uses AI and a vast genomic database to personalize cancer treatment and aims to expand into chronic disease detection. It’s completed 6.5M tests, found 915K mutations, and customizes therapies per patient.
Founder/CEO David Halbert owns 43.7% post-IPO; Sixth Street and J.H. Whitney VI hold 9% and 7.1%, respectively.