What you must know:

– Tempus AI, a frontrunner in synthetic intelligence (AI)-powered precision drugs, filed Monday with the Securities and Alternate Fee (SEC) to lift as much as $100 million by means of an preliminary public providing (IPO). Nevertheless, business analysts consider this determine could possibly be a placeholder, with the precise goal quantity being nearer to $600 million.

– Tempus AI, based in 2015 and headquartered in Chicago, Illinois, reported $562 million in income for the fiscal 12 months ended March 31, 2024.

Unlock the ability of precision drugs

The corporate plans to checklist on the Nasdaq below the ticker image TEM. Notably, Tempus AI initially filed confidentially for the IPO on September 1, 2021. In December 2023, additionally they rebranded from Tempus Labs to Tempus AI. Tempus AI focuses on harnessing the potential of AI to revolutionize healthcare. By its personal Tempus Platform, the corporate combines superior software program with particular knowledge pipelines. This community connects greater than 2,000 healthcare establishments by way of roughly 450 distinctive knowledge connections. This progressive expertise has enabled Tempus to construct one of many largest libraries of medical and molecular oncology knowledge on this planet.

Monetary Help and Subsequent Steps

The IPO can be led by a workforce of joint bookrunners, together with main funding banks similar to Morgan Stanley, JP Morgan, Allen & Firm, BofA Securities, TD Cowen, Stifel and William Blair. Though particular pricing particulars haven’t but been introduced, the business expects important provide.

This IPO submitting displays Tempus AI's intent to leverage public capital to advance its mission of advancing precision drugs by means of its AI-powered platform. With its spectacular income progress and large knowledge library, Tempus AI appears poised to make an impression within the public market.