Juno Therapeutics' stock surges in market debut
Dec. 19, 2014
NEW YORK (AP) — Shares of cancer treatment company Juno Therapeutics Inc. jumped 46 percent in their stock market debut Friday.
Juno genetically engineers a patient's own white blood cells to find and kill cancer cells in the body. In its clinical trials, the company said the treatment showed evidence of tumors shrinking.
The Seattle-based company raised $264.5 million after selling more than 11 million shares at $24 per share. It plans to use the cash raised to continue trials and studies. The stock is listed on the Nasdaq stock market under ticker symbol "JUNO."
The stock rose $11 to close at $35, after rising as high as $39.50 earlier.