Tempus AI to acquire Personalis for $1.5B, adding MRD technology to precision oncology platform

Tempus AI, Inc.

Total enterprise value of $1.5B net of Tempus' existing stake; $16.25 per share in stock, with Tempus option to pay up to 50% cash.
Premium of 6% to Friday's close and 28% to 30-day VWAP; floating exchange ratio capped at 0.3356 Tempus shares per Personalis share.
Closing expected late 2026 or early 2027, subject to Personalis shareholder approval, regulatory clearances, and customary conditions.
Personalis reported Q2 preliminary revenue of $22.4M and 10,384 clinical tests, a 33% sequential increase in test volumes.
Acquisition expands Tempus' reach in the $20B MRD market, combining Personalis' NeXT Personal test with Tempus' AI platform.

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