Anthropic is preparing what could be the largest IPO of 2026, and it’s telling investors the pitch goes well beyond chatbots. According to the Wall Street Journal, “Anthropic is targeting a public debut in September or early October, people familiar with its plans said.” In those same meetings, the company told some investors that it plans to push further into healthcare and biology AI use cases and that the work could help mitigate some of the negative sentiment around AI.
If the marquee AI listing of the year plants a flag in drug discovery, the rally in AI-adjacent healthcare could front-run the deal. Twist Bioscience is up 387.05% over the past year. Below are the five AI-native biotech and synthetic biology names best positioned if capital rotates into the theme, ranked by execution, catalyst density, and clarity of path to profitability.
No. 5: Absci
Absci (NASDAQ:ABSI) is the smallest revenue story on the list but the loudest catalyst story. Q1 revenue was just $1.8 million on a trailing basis, yet analysts carry a $13.78 target with 10 of 11 ratings at Buy or Strong Buy. CEO Sean McClain called “2026 is going to be a data-rich year for Absci with multiple readouts ahead.” Cash sits at $125.7 million with runway into 1H 2028, and shares are up 224.5% over the past year on pipeline anticipation.
No. 4: Recursion Pharmaceuticals
Recursion Pharmaceuticals (NASDAQ:RXRX) delivered Q2 revenue of $7.67 million, down from $19.2 million YoY. On the flip side, its net loss narrowed to -$131.00 million from -$171.90 million, a 23.79% improvement. Cash of $545.68 million funds operations into early 2028, and 2026 cash opex guidance was lowered by $15 million to $375 million. CEO Najat Khan said “Recursion has reached a pivotal point where our AI-native platform is translating unique data into potential first-in-class therapeutic opportunities.” Multiple clinical readouts land in 2H26.
No. 3: Schrodinger
Schrodinger (NASDAQ:SDGR) posted Q1 revenue of $58.59 million, beating consensus estimates by 23%, with drug discovery revenue more than doubling to $22.9 million. Annual contract value grew 12% to $28.4 million. The company’s Bunsen agentic AI co-scientist launches this summer, and Eli Lilly’s acquisition of Ajax Therapeutics, which Schrodinger co-founded, values the deal at up to $2.3 billion. CEO Ramy Farid highlighted “strong growth in both ACV and drug discovery revenue.” Shares are up 22.68% in the past week.
No. 2: Twist Bioscience
Twist Bioscience (NASDAQ:TWST) delivered Q3 revenue of $118.38 million, up 23.2%, marking its 14th consecutive quarter of sequential growth. Gross margin expanded to 52.8%, and management raised full-year guidance to $456 to $457 million. CEO Emily M. Leproust said the adjusted EBITDA breakeven milestone “is not the destination. It’s the foundation for delivering disciplined execution and profitable growth as we move through fiscal 2027.” A strategic AWS partnership for AI-powered drug discovery reinforces the thesis.
No. 1: Tempus AI
Tempus AI (NASDAQ:TEM | TEM Price Prediction) is the cleanest execution story in the group. Q2 revenue hit $382.49 million, up 21.6%, with EPS of -$0.04 topping the -$0.1517 estimate for a 73.63% surprise, the fifth consecutive EPS beat. Oncology volumes grew 31%, gross margin expanded to 62.6%, and roughly $200 million in new data licenses were signed with BioNTech, Daiichi Sankyo, Level Set Bio and Incyte. Management raised full-year guidance to $1.595 to $1.605 billion with adjusted EBITDA of ~$65 million. CEO Eric Lefkofsky said “Q2 was another exceptional quarter for us. Our strategy is working.” A pending $1.5 billion Personalis acquisition adds ultrasensitive MRD technology. Shares jumped 16.5% in the past week as the AI-healthcare rotation accelerated.
What to Watch Next
If Anthropic uses its listing to reframe AI around healthcare and biology, capital will hunt for public-market proxies that sit outside the mega-cap tech tier. The five above stocks carry the narrative: Tempus AI compounds beats and raises, Twist Bioscience nears breakeven on 14 straight quarters of growth, Schrodinger ships an agentic AI co-scientist, Recursion narrows losses into a data-rich second half, and Absci lines up multiple 2026 readouts. Whether the Anthropic deal prints in September or slips to October, this cohort is where the AI-biotech trade currently sits.
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