Juno Therapeutics completes initial public offering, with stocks soaring.
Immunotherapy firm Juno Therapeutics has completed its IPO, trading on the Nasdaq under the ticker symbol “JUNO” since 22 December.
Juno offered 12.7 million shares of common stock at $24 per share. By 29 December, the share price had more than doubled to $54 per share. After a sell off at the start of the year bringing the price down to $46 per share, the price has subsequently recovered to $51.66 per share at time of writing.
The company, launched in December 2013, raised $310m over two rounds in 12 months. Backers include Bezos Expeditions, Arch Venture Partners, Venrock, and Alaska Permanent Fund.
At the core of Juno’s intellectual property is an oncology treatment which reprograms white blood cells to be able to recognise, target, and eradicate tumours. Early trials into the technology at Juno and its immunotherapy peers have shown a great deal of promise, with a high rate of complete remissions.
