Tempus AI rose by as much as 15% in trading on Friday after the health-care diagnostics company priced its Nasdaq IPO at $37, the high-end of offering range.
Tempus AI rose by as much as 15% in its market debut Friday on the Nasdaq after going public under the ticker symbol"TEM."The Chicago-based health-care diagnostics company priced 11 million shares at $37 apiece on Thursday, at the top of its initial $35 to $37 target range.
Tempus believes that AI can help guide therapy selection and treatment decisions, in conjunction with the patient's doctor. It generated total revenue of $531.8 million in 2023 and a net loss of $214.1 million." Friday morning before shares started trading."As revenues have been growing quickly, we're not investing all that gross profit dollar growth back into the business.
‘Win-win-win': Three-day hybrid work week is a success, largest study to date published in Nature says Tempus AI is applying some of the most heavily-funded technology concepts — artificial intelligence and data analysis — to building a better, more informed medical profession. The lack of diagnostic testing early in the Covid-19 outbreak was an example of how a system as mature as our health-care infrastructure can still be unprepared for the future.
The Chicago-based company said in its IPO filing,"we endeavor to unlock the true power of precision medicine by creating Intelligent Diagnostics through the practical application of artificial intelligence, or AI, in healthcare. Intelligent Diagnostics use AI, including generative AI, to make laboratory tests more accurate, tailored, and personal. We make tests intelligent by connecting laboratory results to a patient's own clinical data, thereby personalizing the results.
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