Tempus AI stock surges after FDA clears its new RNA cancer-testing device, opening fresh commercial opportunities and boosting investor confidence.

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Investing.com -- Tempus AI (NASDAQ:TEM) stock fell 2.6% after the precision medicine technology company announced a proposed $400 million convertible senior notes offering due in 2030. The Chicago-based company plans to use a portion of the proceeds to repay outstanding term loans, including immediately paying off its $275 million 2027 term loan. This move is expected to reduce interest expenses and enhance financial flexibility. Additional proceeds will fund capped call transactions to reduce potential dilution and for general corporate purposes. The notes will be offered to qualified institutional buyers as general unsecured obligations of Tempus, with interest payable semiannually and maturity set for July 15, 2030. Upon conversion, Tempus may pay in cash, shares of its Class A common stock, or a combination of both, at its discretion. Tempus also intends to grant initial purchasers an over-allotment option to buy up to an additional $60 million in notes within 13 days of the initial issuance. In connection with the offering, the company plans to enter into privately negotiated capped call transactions with financial institutions. These transactions are designed to reduce potential dilution to Class A common stock upon conversion of the notes and/or offset cash payments exceeding the principal amount of converted notes. The AI-powered precision medicine company expects the option counterparties to establish hedges through various derivative transactions and stock purchases around the time of pricing, which could affect the market price of both Tempus stock and the notes. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Sure, there are always opportunities in the stock market – but finding them feels more difficult now than a year ago. Unsure where to invest next? One of the best ways to discover new high-potential opportunities is to look at the top performing portfolios this year. ProPicks AI offers 6 model portfolios from Investing.com which identify the best stocks for investors to buy right now. For example, ProPicks AI found 9 overlooked stocks that jumped over 25% this year alone. The new stocks that made the monthly cut could yield enormous returns in the coming years. Is TEM one of them?

https://www.forbes.com/sites/phoebeliu/2024/10/17/the-billionaire-behind-groupon-is-making-a-fortune-in-an-industry-he-swore-hed-never-enter/

Investing.com -- Tempus AI , Inc. (NASDAQ:TEM) stock rose 3% on Wednesday after the precision medicine technology company announced it received 510(k) clearance from the U.S. Food and Drug Administration for its Tempus ECG-Low EF software. The AI-powered software is designed to identify patients who may have a low left ventricular ejection fraction (LVEF), which measures the percentage of blood pumped out with each heartbeat. A reduced LVEF can indicate serious cardiovascular conditions including heart failure, cardiomyopathy, or damage from a prior heart attack. This marks the second FDA-cleared ECG-AI device in Tempus’ cardiovascular product suite, following its previously cleared Tempus ECG-AF solution. The new software analyzes resting, non-ambulatory 12-lead ECG recordings to detect signs associated with an LVEF of 40% or less. "With Tempus ECG-Low EF, we’re adding another powerful tool to the hands of clinicians to help them identify patients at risk for serious cardiovascular conditions much earlier in their care journey," said Brandon Fornwalt, Senior Vice President of Cardiology at Tempus. The software is intended for use on clinical diagnostic ECG recordings collected at healthcare facilities from patients 40 years or older who are at risk of heart failure. This includes patients with conditions such as atrial fibrillation, aortic stenosis, diabetes, hypertension, and ischemic heart disease. Tempus emphasizes that the software is not a stand-alone diagnostic tool and results should be interpreted alongside other diagnostic information, including original ECG recordings, other tests, and the patient’s symptoms and clinical history. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. ProPicks AI are 6 model portfolios created by Investing.com which identify the best stocks for investors to buy now. The stocks that made the cut could produce monster returns in the coming years. Is TEM one of them?