Tempus AI Debuts on Nasdaq with a 15% Increase
Healthcare company Tempus AI, known for its use of artificial intelligence to enhance medical testing interpretation and provide more precise treatments, made a successful debut on Nasdaq under the symbol TEM. The company saw a 15% increase in its stock price on Friday following its initial public offering.
Successful IPO Raises $410 Million
Tempus AI priced its 11.1 million shares at $37 each, raising a total of $410 million with a valuation exceeding $6 billion. Despite an initial surge pushing its value over $7 billion, the company closed the first day of trading with a nearly 9% increase, boasting a market capitalization of approximately $6.65 billion.
Using AI to Revolutionize Healthcare
Tempus believes in the power of artificial intelligence to assist in therapy selection and treatment decisions in collaboration with healthcare professionals. In 2023, the company reported total revenue of $531.8 million and a net loss of $214.1 million as it continues to drive innovation and advancements in the healthcare industry.
