Nasdaq signage is seen at the Nasdaq MarketSite, Monday, April 14, 2025, in New York. (AP Photo/Yuki Iwamura)Caris Life Sciences announced plans to go public on Tuesday, testing a technology initial public offering market that’s been frozen over for most of the year.
The Irving-based AI diagnostic company filed an S-1 registration statement to float Class A stock, and plans to list on the Nasdaq ― which just recently unveiled plans to create a second headquarters in Dallas to service the booming North Texas economy.
Founded in 2008, Caris Life develops methods of profiling specific molecules and protein biomarkers to help physicians more directly treat cancer patients. The company uses AI and machine learning to identify cancer signals at the molecular level and predict patient response.
The company did not disclose its current valuation, or how much it plans to raise. But in a hint of the planned offering’s size and importance, the book will be managed by some of the biggest names on Wall Street.
BofA Securities, J.P. Morgan and Goldman Sachs will lead the offering, with help from Citigroup, the company said in a statement. TD Cowen, Evercore ISI and Guggenheim Securities will act as additional book-runners, with assistance from BTIG and Wolfe | Nomura Alliance.
Caris has been raising hundreds of millions in an effort to cure cancer and last month closed a funding round of nearly $178 million. According to the company, it has raised nearly $2 billion since 2018.
The company is tapping the market at a time when head-spinning volatility has made both technology IPOs and venture capital exits increasingly challenging.
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