Skip to main content

NEW YORK (TheStreet) -- Juno Therapeutics (JUNO)  shares soared on its first day of trading, climbing by 50% on Friday. 

The company initially priced 11.02 million shares at $24 per share, above the expected range of $21 to $23. The range was already boosted once, with shares initially expected to price between $15 and $18. 

CEO Hans Bishop says the company is focused on improving cancer treatments used on patients. Specifically, Juno Therapeutics is working on a process that "reprograms" the immune system, and in particular the body's T-cells, to recognize and attack cancer cells. 

In general, there's a lot of excitement about the treatments that can be used with immune systems to fight certain diseases, he said. 

Juno Therapeutics JUNO data by YCharts

TheStreet Recommends

Image placeholder title

The clinical studies data have only been tested to battle against a few different blood cancers, so it's still early to be thinking about other cancers this type of treatment could help with, said Bishop. 

But it's promising that in the future different cancers can be treated with the reprogramming process of immune systems

The company is also focused on building its own manufacturing facility and boosting its pipeline, with 10 different cell products moving into the clinic. The proceeds from the IPO will be used to fuel the company's future growth, boost research, and hire exceptional talent to deliver even more treatments, he concluded. 

-- Written by Bret Kenwell 

Follow @BretKenwell

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.