Tempus AI to acquire Personalis for $1.5B to expand into MRD cancer monitoring market

Filed July 20, 2026 · Period ending July 20, 2026 · ~1 min read

Key Changes

• high

  Tempus entered definitive agreement to acquire Personalis for $16.25/share ($1.5B enterprise value net of existing stake), targeting the $20B MRD cancer monitoring market with 100% stock consideration (Tempus may elect up to 50% cash).

  Item 7.01 — Regulation FD Disclosure verify on EDGAR →
• high

  Personalis shareholders receive floating exchange ratio capped at 0.3356 Tempus shares per Personalis share, but can terminate if Tempus stock falls below $46 before closing—a material downside protection given stock consideration structure.

  Item 7.01 — Regulation FD Disclosure verify on EDGAR →
• medium

  Transaction requires Personalis shareholder approval and regulatory clearances; closing expected late 2026 or early 2027. Cash portion (if elected) funded from existing cash and credit facilities.

  Exhibit 99.1 view on EDGAR →