Caris Life Sciences has launched its initial public offering, planning to offer more than 23.5 million shares of common stock at an expected price range of $16 to $18 per share, according to a filing with the U.S. Securities and Exchange Commission.

The Irving, Texas-based precision medicine company also intends to grant underwriters a 30-day option to purchase up to an additional 3.5 million shares. If priced at the top of the range and all shares are sold, the offering could raise as much as $423 million before expenses.

Caris has applied to list its stock on the Nasdaq Global Select Market under the ticker symbol “CAI.”
Bank of America, J.P. Morgan, and Goldman Sachs are acting as lead book-running managers for the offering. Citigroup joins them in that role, with TD Cowen, Evercore ISI, and Guggenheim Securities also participating. BTIG and Wolfe | Nomura Alliance are serving as comanagers.

The offering is being made through a prospectus, which is available through the underwriters. The registration statement is not yet effective, and shares cannot be sold until it becomes so.

Caris, founded in 2008, focuses on molecular profiling and AI-driven diagnostics, offering whole exome and transcriptome sequencing services. The company has built a proprietary clinico-genomic database to support research, diagnosis, and treatment strategies in oncology and other disease areas.

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