In morning trading, shares of Boston-based Ziopharm Oncology Inc. (ZIOP) were up 16.1% to $4.97, San Diego-based Fate Therapeutics Inc. (FATE) climbed 9.3% to $8.06 and Houston-based Bellicum Pharmaceuticals Inc. (BLCM) shares had risen 2% to $7.96. Also among the stock movers were U.K.-based Adaptimmune Therapeutics plc (ADAP) , whose American depository receipts were up 8.9% to $8.81 and France-based Cellectis SA (CLLS) , whose ADRs rose 9.4% to $32.26.
Celgene, which has a 9.7% stake in Juno, said Monday it had agreed to buy the rest of the Seattle immunotherapy company it doesn't own for around $9 billion. Summit, N.J.-based Celgene will pay $87 per share, net of cash and marketable securities acquired and Juno shares already owned by Celgene.
Juno shares were changing hands at $86.02 on Monday morning, up 26.9%. Celgene's shares were trading at $102.76, roughly flat.
Juno's product candidates include JCAR017, a potential treatment for B-cell non-Hodgkin's lymphoma. Regulatory approval for the treatment in the U.S. is expected in 2019, and the product has potential global peak sales of about $3 billion, the companies said Monday.
Celgene and Juno in 2015 signed a 10-year collaboration agreement to develop and commercialize immunotherapies to treat cancer and autoimmune diseases. As part of the agreement, Celgene gained a roughly 9% stake in Juno for $1 billion and an option to commercialize Juno's programs outside North America. At the time, analysts suggested the partnership might be a precursor to a more formal tie-up between the two.
Celgene is is diversifying away from its biggest-selling drug, Revlimid, which is used for the treatment of multiple myeloma, myelodysplastic syndromes and mantle cell lymphoma. Myelodysplastic syndromes are a group of diseases affecting the soft tissue in the bones.
Beginning 2022, Celgene will face generic competition for Revlimid. The drug generated net sales of $8.19 billion in 2017, up 17% from 2016, according to preliminary results issued by Celgene on Jan. 8.
The Juno deal marks Celgene's second acquisition announced this month. Celgene on Jan. 7 agreed to buy Impact Biomedicines for as much as $7 billion, including an upfront payment of about $1.1 billion. San Diego-based Impact is developing fedratinib for the treatment of myelofibrosis and polycythemia vera, a pair of bone-marrow disorders. --Martin Baccardax contributed to this article
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