(Reuters) -Biotech company Caris Life Sciences filed its paperwork to go public in the U.S. on Friday as the stock market shows signs of recovery after tariff shocks.
Irving, Texas-based firm reported a revenue rise to $412.3 million in 2024 compared with $306.1 million in 2023, according to the regulatory filing.
Activity in the U.S. IPO market had declined after a strong start in 2025 due to an ever-evolving tariff environment, geopolitical uncertainty and inflationary pressures.
However, companies in sectors perceived as less sensitive to economic headwinds are pushing ahead with their initial public offerings.
The company’s stock will trade on Nasdaq Global Select Market under the symbol “CAI.”
BofA Securities, J.P.Morgan, Goldman Sachs and Citigroup are the lead underwriters for the offering.
Founded in 2008, Caris is a precision medicine company that provides uses molecular profiling, AI and data analysis to analyze and guide treatments, therapy and drug development for a disease.
Healthcare IPOs on U.S. exchanges have fetched $7.1 billion in 2024, compared with $2.8 billion a year ago, according to the data compiled by LSEG.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Mohammed Safi Shamsi)
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