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NEW YORK (TheStreet) -- Shares of Juno Therapeutics  (JUNO) were down 5.06% to $51.47 in early afternoon trading Tuesday as the stock sold off following three days of significant gains.

Juno surged to a new lifetime high of $56.50 on Monday after the biotech company disclosed in an 8-K regulatory filing that it had authorized 495 million shares of new stock. Furthermore, the filing updated the status of the company's license agreement with Opus Bio.

"On December 22, 2014, the conditions to the company's license agreement with Opus Bio, Inc. ('Opus Bio') were satisfied, and the company's exclusive, worldwide, sublicenseable license under certain patent rights related to a CD22-directed CAR product candidate became effective," the filing states.

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"In connection with the effectiveness of this license, in accordance with the terms previously disclosed in the Registration Statement, the company paid Opus Bio $20.0 million in cash and issued to Opus Bio 1,602,564 shares of common stock of the company," it continues.

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Juno priced its IPO on December 19 at $24, but the stock surged above $50 in the days since the offering.

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