Wednesday, June 12, 2024

Gen Eng News: Update on TEMPUS IPO and Financials

Genetic Engineering News publishes an update on the pending IPO at TEMPUS.   It's open access here:

It's a little confusing as it intermingles NVIDIA and TEMPUS news.  The update includes amendment(s) to the initial TEMPUS IPO documents.

Here's some bullet points, pulled from GEN:

  • 11M shares at $35-37, raising ~$400M at a valuation of $6B
    • Veracyte market cap, $1.7B
    • Guardant market cap, $4B
    • Exact Sciences market cap, $8B
    • Natera market cap, $14B
  • Sales history with 7000 physicians, 200 biotech, 19/20 top pharma
  • Data and services 30% of 1Q revenue  (so that leaves 70% genomics)
  • "Tempus expects AI to grow into a third product line"
  • Last year's revenue was $532M (net loss $215M)

Chart by Chat GPT 4.