Markets Insider
- Shares of Juno Therapeutics are up more than 50% in early trading on Wednesday following a Wall Street Journal report Tuesday evening that biotech giant Celgene is in talks to buy the cancer drugmaker.
- Juno is developing a highly personalized cancer treatment called CAR T-cell therapy (CAR is short for chimeric antigen receptor). 2017 was a big year for these treatments, with the Food and Drug Administration approving two, and Gilead Sciences buying CAR-T drugmaker Kite Pharma for $12 billion.
- Celgene has been under pressure from investors to make some changes after a rocky 2017. Already in 2018, the company has acquired Impact Biosciences in a $7 billion deal, a move that didn't entirely excite the biotech community, Business Insider’s Lydia Ramsey reports.
- Juno closed down 6.46% on Tuesday. Celgene is down 1.43% pre-market Wednesday.
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