Recent Updates — PCSC
Freenome, Inc. filed an Amendment No. 1 to its Current Report on Form 8-K to include unaudited condensed consolidated financial statements and Management’s Discussion and Analysis for the three and six months ended June 30, 2026, along with pro forma combined financial information following the completion of a business combination with Perceptive Capital Solutions Corp. on July 20, 2026. The transaction resulted in net proceeds of approximately $295.5 million, including $240.0 million from a PIPE financing. For the six months ended June 30, 2026, Freenome reported total revenue of $6.5 million and a net loss of $132.6 million. The company also disclosed that its SimpleScreen CRC test received FDA approval in July 2026, triggering a $100.0 million milestone payment from Exact Sciences under an exclusive license agreement. Freenome operates as an early cancer detection company developing blood-based screening tests leveraging AI/ML.
Freenome, Inc. announced that the U.S. Food and Drug Administration (FDA) has approved SimpleScreen CRC, a blood-based screening test for colorectal cancer in adults 45 and older. Under a commercial agreement with Abbott, Freenome will receive a $100 million milestone payment for this approval. Abbott will exclusively commercialize the test in the U.S. this fall. Freenome, Inc. is an early cancer detection company developing blood-based screening tests.
Freenome, Inc. completed a business combination with Perceptive Capital Solutions Corp (PCSC) on July 20, 2026, resulting in the domestication of PCSC as a Delaware corporation. The transaction involved the merger of Merger Sub I and Merger Sub II into Freenome, with Freenome surviving as a wholly-owned subsidiary of PCSC, which subsequently changed its name to Freenome, Inc. The company received approximately $310.3 million in gross proceeds, including $240.0 million from a concurrent PIPE investment. Following the closing, Freenome's common stock began trading on the Nasdaq Capital Market under the symbol FRNM. Freenome is a healthcare company specializing in cancer detection and diagnostics.
Perceptive Capital Solutions Corp held an extraordinary general meeting on July 15, 2026, where shareholders approved the Business Combination Proposal, the Domestication Proposal, and several other governance and incentive plan proposals. The vote included approval of the Nasdaq Proposal and the Equity Incentive Plan Proposal. Perceptive Capital Solutions Corp is a Cayman Islands exempted company that facilitates business combinations.
Perceptive Capital Solutions Corp postponed the Extraordinary General Meeting regarding its proposed business combination with Freenome Holdings, Inc. to July 15, 2026, to allow for additional disclosure supplements and proxy solicitation. The company also extended the deadline for redemption demands to July 13, 2026. Perceptive Capital Solutions Corp is a Cayman Islands exempted company involved in a business combination transaction.
Perceptive Capital Solutions Corp and Freenome Holdings, Inc. announced that the SEC declared their joint Registration Statement on Form S-4 effective on June 17, 2026. This effectiveness allows the business combination between the two companies to proceed toward a shareholder vote, with PCSC expected to rename to Freenome, Inc. upon closing. Perceptive Capital Solutions Corp is a special purpose acquisition company (SPAC) involved in a business combination with a biotechnology company.