Juno Therapeutics prices upsized IPO at $24; largest 2014 biotech IPO with $2.2 billion market cap

Juno Therapeutics, which is developing T-cell therapies for lymphomas, leukemias and other cancers, raised $265 million by offering 11 million shares (all primary) at $24, above the range of $21 to $23. The company had initially planned to offer 9.3 million shares at $15 to $18, before increasing its range on Tuesday. At $24, Juno Therapeutics will raise 73% greater proceeds than initially anticipated, and command a fully diluted market cap of $2.2 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.