Company Overview - Caris Life Sciences, a cancer diagnostic firm, is set to list on the NASDAQ after pricing its IPO at $21 per share, above the expected range [1] - The company focuses on using AI and life sciences to identify tumors and find unique ways to deal with cancer tumors [2] - Caris Life Sciences positions itself as a world leader in molecular research and cancer, analyzing every gene on every cancer patient [3] Technology and Methodology - The company sequences genes from over 500,000 patients to correlate patient outcomes with genetic features, using AI to identify key features and develop diagnostic signatures [3][4] - Caris Life Sciences utilizes an AI with 218 different algorithms for feature selection, creating signatures for diagnosis and identifying drug targets [4] - The company is developing early diagnostic tests, such as for stage one and two breast cancer, using blood tests for earlier detection [5] - Caris Life Sciences differentiates itself by analyzing every gene (DNA and RNA) in blood and tissue, unlike competitors using smaller gene panels [6] Clinical Impact and Results - Caris Life Sciences claims its AI insights for triple-negative breast cancer can triple overall survival for 15% of the population, from one year to three years, using a 600-gene signature [7] - The company leverages a mature population dataset since 2019, incorporating AI since 2015 [8] - Therapeutic selection or recommendation to the oncologist based upon the molecular makeup of the tumor biopsy [13] - For a certain population, if they'll go with an IO and a chemo they'll live three years instead of one year [14] Business Model and Market - The company's revenue was up 35% to $400 million, primarily from profiling individual tumor biopsies to make therapeutic recommendations [13] - Caris Life Sciences collaborates with 97 members of its precision oncology alliance, including major cancer centers [15] - Future business lines include selling data and drug targets to pharmaceutical companies [16] - The company estimates its total addressable market is potentially $150 billion [17]