Perceptive Capital Solutions shares surge 11.68% premarket after announcing $240M PIPE and merger with Freenome.

Perceptive Capital Solutions Corp (PCSC) surged 11.68% in premarket trading following the announcement of a business combination agreement with Freenome Holdings, a blood-based cancer detection company. The transaction includes a $240 million private investment in public equity (PIPE) led by Perceptive Advisors and RA Capital, with proceeds expected to accelerate Freenome’s AI/ML-driven platform development and support the 2026 launch of multi-cancer tests. The combined entity, to be listed on Nasdaq under "FRNM," will leverage existing partnerships with Exact Sciences and Roche to expand its data infrastructure. Perceptive Advisors, which sponsors PCSC, emphasized confidence in Freenome’s commercialization strategy and technology, while Freenome’s CEO highlighted clinical validation and strategic partnerships as key enablers of growth. The deal, subject to shareholder approval, underscores institutional backing for the company’s transformational vision in early cancer detection.