Monitor Personalis shareholder vote and regulatory approvals (HSR, etc.) as key catalysts. Tempus' stock price above $46.00 is a condition for closing; any weakness below that level could introduce deal risk. The acquisition positions Tempus in the high-growth MRD market, but integration execution and dilution from stock issuance are key risks to watch.
Price Chart
Executive Summary
Tempus AI announced a definitive agreement to acquire Personalis (PSNL) for $16.25/share in a stock transaction valued at $1.5B enterprise value (net of Tempus' existing stake). The deal integrates Personalis' industry-leading MRD technology into Tempus' AI precision oncology platform, targeting a $20B MRD market. Personalis reported Q2 preliminary revenue of $22.4M and 10,384 clinical tests (+33% QoQ). Closing expected late 2026/early 2027, subject to Personalis shareholder approval and regulatory clearances.
Key Facts
- Acquisition price: $16.25 per Personalis share, total enterprise value $1.5B net of Tempus' existing ownership
- Consideration: 100% stock with Tempus option to pay cash up to 50%; floating exchange ratio subject to max 0.3356
- Closing expected late 2026 or early 2027; Personalis can terminate if TEM stock falls below $46.00
- Personalis Q2 preliminary revenue $22.4M, 10,384 clinical tests (+33% QoQ)
- MRD market described as a $20B opportunity; existing partnership since Nov 2023
- Premium: 6% to Friday's close, 28% to unaffected 30-day VWAP
Financial Impact
$1.5 billion enterprise value acquisition; all-stock consideration with potential 50% cash election
Risk Factors
- Integration risk combining Personalis' MRD technology with Tempus' platform
- Dilution from stock consideration (floating exchange ratio)
- Regulatory approval delays or conditions
- Personalis termination right if TEM stock falls below $46.00
- Potential shareholder opposition at Personalis
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-308469 |
| Document: d124162dex991.htm | 0001193125-26-308469 |
| Document: 0001193125-26-308469-index-headers.html | 0001193125-26-308469 |
| Document: 0001193125-26-308469-index.html | 0001193125-26-308469 |
| Document: 0001193125-26-308469.txt | 0001193125-26-308469 |
Filters
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Sep 3, 2026 28d ago | Insider Cluster | $64.62 $62.21 | ▼ −3.73% | ▼ −2.52% | $76.41 (+18.25%) |
Sep 3, 2026 28d ago | Insider Cluster | $64.62 $62.21 | ▼ −3.73% | ▼ −2.52% | $76.41 (+18.25%) |
Sep 1, 2026 4w ago | Insider Cluster | $62.27 $61.28 | ▼ −1.59% | ▼ −1.67% | $76.41 (+22.71%) |
Aug 28, 2026 5w ago | Insider Cluster | $64.04 $64.62 | ▼ −0.91% | ▼ −0.80% | $76.41 (−19.32%) |
Aug 25, 2026 5w ago | 144 | $68.48 $61.94 | ▲ +9.55% | ▲ +9.43% | $76.41 (−11.58%) |
Aug 25, 2026 5w ago | Insider Cluster | $68.73 $62.27 | ▼ −9.40% | ▼ −8.86% | $76.41 (+11.17%) |
Aug 21, 2026 6w ago | Insider Cluster | $72.69 $64.04 | ▲ +11.90% | ▲ +12.37% | $76.41 (−5.12%) |
Aug 19, 2026 6w ago | 144 | $66.65 $70.69 | ▲ +6.06% | ▲ +4.95% | $76.41 (+14.64%) |
Aug 18, 2026 6w ago | Insider Cluster | $49.36 $68.73 | ▼ −39.24% | ▼ −39.44% | $76.41 (−54.80%) |
Aug 11, 2026 7w ago | Insider Cluster | $55.69 $49.36 | ▼ −11.37% | ▼ −10.96% | $76.41 (+37.21%) |
US Market Status
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