Tempus rises 9% on the first day of trading, demonstrating investor appetite for a health tech with a promise of AI
By what percentage did Tempus' shares rise on the first day of trading on Nasdaq?
Tempus' shares rose by about 15% on the first day of trading on Nasdaq2.
How much did Tempus raise from its IPO and what was the company's valuation post-IPO?
Tempus raised nearly $411 million from its IPO, pricing its shares at $37 each. The company's valuation post-IPO was over $6 billion at a fully diluted valuation.
What motivated Lefkofsky to found Tempus, and what is the company's primary focus?
Motivation Behind Founding Tempus
Eric Lefkofsky was motivated to found Tempus after his wife was diagnosed with breast cancer6. During her treatment, he noticed that doctors did not rely on data-driven decision-making in cancer care. This observation led him to establish Tempus in 2015, with the goal of using technology and data derived from genomic sequencing to improve cancer treatment.
Primary Focus of Tempus
Tempus is a health-tech company that primarily focuses on enabling physicians to deliver personalized cancer care through its interactive analytical and machine learning platform5. The company provides genomic sequencing services and analyzes molecular and therapeutic data, empowering physicians to make real-time, data-driven decisions to benefit their patients5. Tempus aims to learn from the data it gathers, allowing each patient to benefit from the treatment of others who came before them. In addition to its core focus, Tempus is also working on positioning itself as an AI company, with plans to embed AI in every aspect of its diagnostic tools.