NEW YORK, December 30, 2025, 14:58 ET — Regular session
- Caris Life Sciences shares fell about 1.8% in afternoon trading, lagging a flat broader market.
- Biotech benchmarks slid, adding pressure across the group.
- Investors remain focused on Caris’ Genentech collaboration and the next quarterly update for progress on guidance and test volumes.
Caris Life Sciences shares were down about 1.8% at $27.44 as of 2:41 p.m. ET, after trading between $27.00 and $27.97 during Tuesday’s session.
The drop came as biotech stocks underperformed, with the SPDR S&P Biotech ETF down about 1.5% and the iShares Nasdaq Biotechnology ETF off about 1.2%. The S&P 500 was little changed and the Nasdaq was flat, Reuters data showed.
That matters for Caris because the newly public cancer diagnostics company tends to move with shifts in risk appetite for healthcare growth names, even when there is no single stock-specific headline in play.
Caris, which listed on Nasdaq in June at $21 a share, sells molecular profiling tests that read genetic and other markers in tumors to help guide therapy choices and support drug development.
Investors have also been digesting Caris’ collaboration with Genentech, part of Roche, announced on Dec. 16. The deal includes $25 million in upfront and near-term payments and up to $1.1 billion in research, development and sales milestones, and Caris would also receive royalties on any therapies, the companies said.
“We hope to enable the development of first-in-class medicines for cancer patients,” Milan Radovich, Caris’ chief scientific officer, said in the announcement. PR Newswire
Milestone payments are conditional payouts: the money only arrives if a project hits preset targets, such as research advances, regulatory steps or commercial sales goals.
On Tuesday, Caris’ decline outpaced some precision-oncology and diagnostics peers. Guardant Health was down about 0.8%, while Exact Sciences and Natera each slipped about 0.1% to 0.2%.
Caris last reported quarterly results on Nov. 5, when it posted total revenue of $216.8 million and raised 2025 revenue guidance to $720 million to $730 million, the company said.
Investors typically focus on whether molecular profiling volume growth holds up, how reimbursement trends feed through to margins, and whether new biopharma partnerships translate into measurable revenue or milestone progress.
In the near term, traders have been watching whether the stock holds above Tuesday’s session low near $27 and whether it can retake the $28 level that has acted as a short-term reference point for the shares.
