Company Update (NASDAQ:JUNO): Juno Therapeutics Inc and Editas Medicine Announce Exclusive Collaboration to Create Next-Generation CAR T and TCR Cell Therapies
Juno Therapeutics Inc (NASDAQ:JUNO), a leading biopharmaceutical company focused on re-engaging the body’s immune system to revolutionize the treatment of cancer, and Editas Medicine, a leader in genome editing, announced an exclusive collaboration focused on creating chimeric antigen receptor (CAR T) and high-affinity T cell receptor (TCR) therapies to treat cancer. The companies will pursue three research programs together utilizing Editas’ genome editing technologies, including CRISPR/Cas9, with Juno’s CAR and TCR technologies.
“We are impressed and inspired by the scope and sophistication of Juno’s scientific vision and the exceptional product development experience of the Juno team”
“Encouraged by the clinical results we have seen to date with our product candidates, we are committed to accessing and investing in leading science to create next generation therapeutics that maximize benefits and increase the breadth of cancers we address,” said Hans Bishop, CEO, Juno Therapeutics. “Editas’ disruptive genome editing technology may unlock the ability of CAR T and TCR technologies to address a much wider range of cancers, giving hope to countless patients and families waiting for treatments.”
“We are impressed and inspired by the scope and sophistication of Juno’s scientific vision and the exceptional product development experience of the Juno team,” said Katrine Bosley, CEO, Editas Medicine. “They are intensely focused on advancing T cell based therapies for cancer patients, and we share their ambition to significantly expand the types of cancers that can be treated with this approach.”
Under the terms of the agreement, Juno will pay Editas an upfront payment of $25 million and up to $22 million in research support over the next five years across the three programs in the alliance. Editas is also eligible to receive future research, regulatory, and commercial sales milestones in excess of $230 million for each program. Following the approval of any products resulting from the alliance, Editas is also eligible to receive tiered royalties. (Original Source)
Shares of Juno Therapeutics closed yesterday at $46.45 . JUNO has a 1-year high of $62.50 and a 1-year low of $34.71. The stock’s 50-day moving average is $50.98 and its 200-day moving average is $49.01.
On the ratings front, Juno Therapeutics has been the subject of a number of recent research reports. In a report issued on May 21, J.P. Morgan analyst Cory Kasimov reiterated a Buy rating on JUNO, with a price target of $66, which represents a potential upside of 42.1% from where the stock is currently trading. Separately, on May 12, Leerink Swann’s Howard Liang reiterated a Buy rating on the stock and has a price target of $74.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Cory Kasimov and Howard Liang have a total average return of 12.7% and 32.4% respectively. Kasimov has a success rate of 61.3% and is ranked #277 out of 3607 analysts, while Liang has a success rate of 66.1% and is ranked #78.
Juno Therapeutics Inc is a biopharmaceutical company. The Company is engaged in revolutionizing medicine by re-engaging the body’s immune system to treat cancer.