Shares of Juno Therapeutics Inc. (JUNO) surged more than 33% to $61.82 in pre-market trading on Tuesday after the company announced what is possibly the largest upfront payment for a biotech licensing agreement ever. Celgene (CELG), which focuses on treating cancer and inflammatory diseases, will invest about $1 billion in Juno as part of a ten-year collaboration agreement with the company, including the purchase of about 9.1 million shares of JUNO at $93/shr, with potential to increase its stake over time. Celgene will also pay Juno Therapeutics about $150 million in cash.
The companies will initially focus on a portfolio of Chimeric Antigen Receptor Technology and T Cell Receptor technologies.
Separately, Juno also said that it received approval to launch Phase 1 trials of its non-Hodgkin lymphoma treatment.
Microsoft Corporation (MSFT) – According to a Bloomberg report, the software giant is shutting down its Web display advertising business, letting AOL sell ads on its websites, while selling its map technology to Uber.
About 1,200 jobs at Microsoft will be impacted.
Shares of Cellectis S.A. (CLLS) are rallying, up nearly 10% to $36.47 on Tuesday morning. The catalyst for the increase is news on Juno Therapeutics 10-Year $1 billion drug development deal with Celgene Corp.
Shares of Taser International Inc. (TASR) were up 2.37% this morning on news the company has received an order for 300 Axon body-worn cameras and a five year subsciption to Evidence.com, from the Fresno Police Departement. Order was received and shipped in Q2/15.
The cameras retail for $599, so at full price, the deal translates in nearly $180K in revs for Taser.
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