Stock Monitor: Juno Therapeutics Post Earnings Reporting

LONDON, UK / ACCESSWIRE / February 23, 2018 / Active-Investors.com has just released a free research report on Celgene Corp. (NASDAQ: CELG). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CELG as the Company's latest news hit the wire. On February 21, 2018, the Company, which is an integrated global biopharmaceutical organization engaged in the discovery, development, and commercialization of innovative therapies for the treatment of cancer and inflammatory diseases, declared that the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR) for Celgene's announced acquisition of Juno Therapeutics Inc. (NASDAQ: JUNO) ("Juno") expired on February 20, 2018, at 11:59 p.m. ET. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Celgene and Juno Therapeutics most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=CELG

www.active-investors.com/registration-sg/?symbol=JUNO

The HSR waiting period was with respect to the previously announced tender offer made by Celgene's wholly-owned subsidiary, Blue Magpie Corp., for all of the issued and outstanding shares of common stock of Juno for $87.00 per share, net to the seller in cash, without interest, and less required withholding taxes and subsequent merger of Blue Magpie with Juno.

About Celgene's Acquisition of Juno

On January 22, 2018, Celgene announced that it has signed a definitive merger agreement to acquire Juno.

Juno is building an integrated biopharmaceutical Company focused on developing innovative cellular immunotherapies for the treatment of cancer. The Company has emerged as a pioneer in the development of chimeric antigen receptor (CAR) T and T cell receptor (TCR) therapeutics. Many of Juno's product candidates have shown remarkable performance in clinical trials in refractory leukemia and lymphoma. Its lymphoma program, JCAR017 (lisocabtagene maraleucel; liso-cel) is the potentially best-in-class CD19-directed CAR T. It is currently in a pivotal program for relapsed and/or refractory diffuse large B-cell lymphoma (DLBCL).

The acquisition of Juno builds on Celgene's vision of discovering and developing transformative medicines for patients with incurable blood cancers. Juno's advanced cellular immunotherapy portfolio and research capabilities would strengthen Celgene's global leadership in hematology and oncology. Besides, Juno's novel scientific platform and scalable manufacturing capabilities would also enhance Celgene's leadership position.

Tender Offer for Juno Initiated on February 02, 2018

  • On February 02, 2018, Blue Magpie initiated the tender offer for all outstanding shares of common stock of Juno at a price of $87.00 per share, net to the seller in cash, without interest, and less required withholding taxes. This agreement was made with regards to the Agreement and Plan of Merger between Celgene, Blue Magpie, and Juno, dated January 21, 2018.
  • The Board of Directors of Juno has acclaimed that this offer is in the best interest of Juno and its stockholders, and has thus recommended Juno's stockholders to tender their shares.
  • It must be noted that the above-mentioned tender offer is scheduled to expire at midnight ET on March 02, 2018, until and unless it is extended or terminated earlier.
  • Besides, Juno also filed a Solicitation/Recommendation Statement on Schedule 14D-9, and a Schedule 13E-3 with the US Securities and Exchange Commission (SEC) relating to the offer on February 02, 2018.

Transaction Closing

The expiration of the HSR waiting period satisfies one of the closing conditions for Juno's pending acquisition. The transaction is still subject to several other customary closing conditions, and post which, is expected to close in the first quarter of 2018.

Stock Performance Snapshot

February 22, 2018 - At Thursday's closing bell, Celgene's stock marginally fell 0.12%, ending the trading session at $93.78.

Volume traded for the day: 4.45 million shares.

After yesterday's close, Celgene's market cap was at $71.19 billion.

Price to Earnings (P/E) ratio was at 17.88.

The stock is part of the Healthcare sector, categorized under the Biotechnology industry.

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