AI technology is gradually infiltrating the medical industry. On Friday, the Nasdaq stock market welcomed a medical diagnostics company named Tempus AI. The company uses AI to help doctors analyze patients' medical test data. The stock price rose by 18% on the first day of its IPO.
One of the first companies that focuses on AI medical has gone public.
On June 14th, Eastern Time, a medical diagnostic company named Tempus AI was listed on the NASDAQ stock market, with the stock code "TEM". The company achieved total revenue of $531.8 million in 2023, but net loss reached $214.1 million. On the first day of listing on Friday, the stock price of Tempus AI performed strongly, soaring by 15% at one point. The final market value at the closing was about $6.65 billion, up nearly 9% from the issue price. On Thursday, the company successfully issued 11.1 million shares at a price of $37 per share, raising about $410 million.
On the first day of listing on Friday, the stock price of $Tempus AI (TEM.US)$ performed strongly, soaring up to 18% at one point. The market cap reached about $6.645 billion at the close, up nearly 9% from the issue price. The company successfully issued 11.1 million shares at $37 per share on Thursday, raising about $410 million.$Tempus AI (TEM.US)$Please use your Futubull account to access the feature.
The prospectus shows that Tempus AI hopes to develop personalized intelligent diagnostics via AI and data analysis, thus building a more optimized and informationalized medical industry. Specifically, Tempus AI uses AI to interpret medical tests, combines laboratory results with patients' own clinical data to achieve personalized diagnosis results, and helps doctors provide more accurate treatment plans for patients. For example, during the outbreak of COVID-19, Tempus AI quickly launched a home testing kit despite the lack of diagnostic testing in the early stage of the pandemic, demonstrating that even mature medical infrastructure may be unprepared for future challenges.
Tempus AI is committed to using its advanced technology to solve this problem and tailor treatment plans for patients by understanding tumors at the molecular level through genomic testing, focused on the field of oncology.
Before the company went public, CEO Eric Lefkofsky stated in a program that with the rapid growth of revenue, the company is improving its financial performance by increasing operational efficiency, and is expected to achieve positive growth in cash flow and EBITDA in the next year.
Lefkofsky founded Tempus AI because of personal experiences. After his wife was diagnosed with breast cancer, he was deeply disappointed with the existing medical system. Therefore, he decided to establish this company specializing in oncology, using genomic testing to understand tumors at the molecular level and tailor treatment plans for patients.
It is reported that Morgan Stanley, JPMorgan and Allen & Company served as the main underwriters for Tempus AI's listing. According to PitchBook data, the list of shareholders also includes well-known major investors, such as Google, Baillie Gifford, Franklin Templeton, NEA and T. Rowe Price.
Editor/Somer