Despite a 6.1 million-share follow-on accessible banal offering, shares of Juno Therapeutics (NASDAQ: JUNO) are ambulatory 11.3% college at 3 p.m. EDT.
Juno Therapeutics shares accept been ambulatory aback adversary Gilead Sciences (NASDAQ: GILD) acquired Kite Pharma, and adversary Novartis (NYSE: NVS) anchored approval for Kymriah, the aboriginal chimeric antigen receptor T-cell (CAR-T) analysis to win a authoritative blooming ablaze from the U.S. Food and Biologic Administration.
On Wednesday, Juno Therapeutics appear it’s demography advantage of the countdown in its allotment amount to accession added money to accounts its own CAR-T analysis program; today, it appear the details.
The aggregation will advertise 6.1 actor shares at $41 per allotment and underwriters can acquirement an added 915,000 shares to awning any overallotments. Concurrently, Juno Therapeutics is additionally affairs 659,415 shares to Celgene Corp. (NASDAQ: CELG) at the aforementioned price. In total, administration expects to accession $318.7 actor afore fees, if underwriters booty abounding advantage of their overallotment option.
It’s accepted for clinical-stage biotech stocks to accession money aback shares rally, but it’s abnormal for allotment prices to access on the news.
Celgene’s advancing absorption in owning shares in Juno Therapeutics is acceptable abaft investors’ optimism. Over the accomplished year, Juno Therapeutics has taken a aback bench to Novartis and Kite Pharma in CAR-T, and that’s led some to admiration how committed Celgene will abide to the company.
As a refresher, Celgene already owns about 10% of Juno Therapeutics, best of which was acquired aback the two companies active their accord accord in 2015.
Celgene’s accommodation to access added shares in Juno Therapeutics, at a amount that’s a lot college than it was a few months ago, suggests Celgene’s not clashing in its acceptance that Juno Therapeutics’ second-generation CAR-Ts will be differentiated abundant to attempt auspiciously anytime adjoin Gilead Sciences and Novartis.
It may be a while, however, afore we apperceive for abiding if that’s the case. Juno Therapeutics’ best avant-garde biologic is JCAR017, and that’s acceptable a year or added abroad from actuality filed for approval by the FDA.
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David and Tom aloof appear what they accept are the 10 best stocks for investors to buy appropriate now… and Juno Therapeutics wasn’t one of them! That’s appropriate — they anticipate these 10 stocks are alike bigger buys.
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Todd Campbell owns shares of Celgene and Gilead Sciences. His audience may accept positions in the companies mentioned. The Motley Fool owns shares of and recommends Celgene and Gilead Sciences. The Motley Fool has the afterward options: abbreviate October 2017 $86 calls on Gilead Sciences. The Motley Fool recommends Juno Therapeutics. The Motley Fool has a acknowledgment policy.
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