BRIEF—Caris shares up by a third on Nasdaq debut

Caris Life Sciences shares ended trading at $28 per share on Wednesday, marking a 33% increase from its initial public offering (IPO) price of $21 per share.

The AI TechBio and precision medicine company was founded in 2008 based on the hypothesis that combining a vast set of consistently generated molecular information with robust data-driven insights could realize the potential of precision medicine for patients.

Caris’ triumphant IPO is a rare positive for the biotech sector. It is the only company involved in drug development that has gone public this quarter.