NEW YORK (TheStreet) -- Juno Therapeutics (JUNO) shares are up 15.3% to $61.18 in afternoon trading on Tuesday following reports that global biotech company AstraZeneca (AZN) would consider purchasing a pharmaceutical company like Juno, according to Bloomberg.  

Juno develops immuno-oncology treatments called CAR-T cell therapies that utilize the body's own T cells to fight against tumors.

The CAR-T cell treatments could become a major player in the global $100 billion cancer treatment market, according to Reuters.

Juno Therapeutics shares rose sharply after being flat most of the morning before the news broke. Shares are already trading at about four times Juno's normal daily average so far today.

AstraZeneca shares are up 0.15% to $67.14 in afternoon trading today.

JUNO Chart JUNO data by YCharts