Juno Therapeutics soared 46% in Friday’s trading debut, the latest sign of investor demand for a new class of cancer-curing firms and for biotechs overall. Juno (JUNO) raised $265 million late Thursday in its IPO with an initial market capitalization of $2.2 billion, the highest valuation for a biotech IPO in 2014, according to IPO (IPO) ETF manager Renaissance Capital. Juno sold 11 million shares at 24. It initially planned to
Juno Therapeutics (JUNO) set a record as the most highly valued biotech IPO this year, with the stock jumping 62% as trading began Friday. The initial public offering raised $265 million, with the company selling 11 million shares at 24. Juno initially planned to sell 9.3 million shares in a range of 15 to 18, then increased that to a range of 21 to 23 on Tuesday. Prior to Juno pricing its shares late Thursday the IPO was said to have been
Juno Therapeutics (JUNO), which is developing cutting-edge treatments for cancer, raised the expected price of its initial public offering, indicating strong demand for shares of the biotech company. Juno now looks to raise $203.5 million, up from its previous mark of $153 million. The company hiked its initial public offering’s expected price range to 21-23 from 15-18. The Seattle-based company is developing cellular immunotherapies designed to