Juno Therapeutics Shares Sky Rocket Following Buyout For $9 Billion

Juno Therapeutics

Juno Therapeutics (NASDAQ: JUNO)

On Monday morning before the market opened, shares of Juno Therapeutics (JUNO) sky rocketed on news that they were going to be bought out by Celgene Corp (CELG) for $9 billion or $87 per share.

Shares popped over 25% to $86.23 following the announcement and will likely stay in the range until the buyout is completed sometime in the first quarter.

Executive Comments

Juno’s JCAR017 treatment for non-Hodgkin lymphoma should “be a significant growth driver beyond 2020 with potential global peak sales of approximately $3 billion,” said Celgene. “Juno’s advanced cellular immunotherapy portfolio and research capabilities strengthen Celgene’s global leadership in hematology and adds new drivers for growth beyond 2020,” said Celgene.

JUNO Technicals

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Looking above at the 5-minute chart you will see that shares made a big move to the purchase price agreed upon by the two companies. Usually with buyouts, shares prices will stay at or just below the buyout price, in this case $87.

There won’t be any short term opportunities since the move has already been made but for a longer term perspective this could really help $CELG bottom line.

Company Profile

Juno Therapeutics, Inc., a biopharmaceutical company, engages in developing cell-based cancer immunotherapies. The company develops cell-based cancer immunotherapies based on its chimeric antigen receptor and T cell receptor technologies to genetically engineer T cells to recognize and kill cancer cells.

Its CD19 product candidates include JCAR017 that is in Phase I/II trials for adults with relapsed or refractory (r/r) B cell aggressive non-Hodgkin lymphoma (NHL) and pediatric patients with r/r B cell acute lymphoblastic leukemia (ALL); JCAR014, which is in Phase I/II trials to treat various B cell malignancies in patients relapsed or refractory to standard therapies; and JCAR015 that is in Phase II trials for adult patients with r/r ALL.

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Bill Johnson 3 years ago Member's comment

I can't believe I used to own this stock. Sold too soon! $JUNO