Juno Therapeutics significantly boosts IPO price range to $21 to $23

Juno Therapeutics, which is developing T-cell therapies for lymphomas, leukemias and other cancers, materially raised the price range for its upcoming IPO on Tuesday. The Seattle, WA-based company now plans to raise up to $213 million by offering 9.3 million shares at a price range of $21 to $23. The company had previously filed to offer 9.3 million shares at a range of $15 to $18. At the high end of the revised range, Juno Therapeutics will raise 39% greater proceeds than previously anticipated, and command a fully diluted market cap of $2.0 billion (was $1.5 billion).

Juno Therapeutics will list on the NASDAQ under the symbol JUNO. Morgan Stanley, J.P. Morgan and Goldman Sachs are the joint bookrunners on the deal. It is still expected to price the week of December 15. We note that another cancer immunotherapy, Bellicum Pharmaceuticals (BLCM), which has preclinical candidates that target the same protein as Juno’s, is also scheduled to price a $100 million offering this week.