Caris Life Sciences (NASDAQ: CAI) announced that its board of directors has authorized a share repurchase program for up to $100 million of the company's outstanding common stock.

The Irving, Texas-based precision medicine company may repurchase shares through open market purchases, privately negotiated transactions, or other means, including trading plans designed to comply with Rule 10b5-1 under the Securities Exchange Act of 1934. Open market repurchases will follow applicable federal securities laws, including pricing and volume requirements of Rule 10b-18.

The timing, manner, price and amount of repurchases will be determined at the company's discretion based on factors including market conditions, the stock's trading price, financial condition, capital requirements, business conditions and alternative investment opportunities.

The repurchase program does not require the company to acquire any specific number of shares and has no expiration date. The program may be modified, suspended or discontinued at any time without prior notice at the board's discretion. Caris expects to fund the repurchases using available cash and cash equivalents.

The company operates as a precision medicine company that develops diagnostic solutions through molecular profiling and artificial intelligence technologies. Caris provides services in the United States and international markets through its offices in Irving, Phoenix, New York, Cambridge, Tokyo and Basel.