NEW YORK (TheStreet) -- Shares of Juno Therapeutics (JUNO) were soaring 9.34% to $42.32 on heavy trading volume mid-Tuesday morning after Kite Pharma (KITE) announced late yesterday that its KTE-C19 treatment for aggressive lymphoma was successful in a phase II study.
KTE-C19 is a CAR-T therapy, which removes patients' immune T cells and engineers them to detect and kill blood cancer cells.
Juno, a Seattle-based biopharmaceutical company, has a similar CAR-T drug for lymphoma in development called JCAR017.
Leerink said in a note earlier today that Kite's interim data is "incrementally positive" for Juno, the Fly reports.
Juno is one year behind Kite in the development of its CAR-T product, but Leerink said that Juno's drug could show a similarly compelling safety and efficacy profile for lymphoma treatment.
The firm reiterated an "outperform" rating on shares of Juno in the note.
More than 2.14 million shares of Juno have traded hands so far today, higher than the 30-day average volume of 1.44 million shares.
Shares of Kite were surging 9.17% to $60.02 on heavy trading volume today, over 3.17 million shares trading so far vs. the 30-day average volume of about 794,000 shares.
Separately, TheStreet Ratings objectively rated Juno stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "sell" with a ratings score of D.
Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: JUNO