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

(Click on image to enlarge)

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 1 year ago Member's comment

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