Celgene Corporation (NASDAQ:CELG) reported that the pertinent waiting period under the “HSR” with respect to the earlier reported tender offer by company’s wholly owned subsidiary unit, Blue Magpie Corporation, for all released and outstanding shares of Juno Therapeutics Inc (NASDAQ:JUNO) for $87 per share, without interest and less needed withholding taxes, and following merger of Juno and Blue Magpie, expired on February 20, 2018.
The closure of the HSR waiting period meets one of the conditions to the completion of the pending deal, which remains contingent to other customary closing guidelines. Celgene projects the transaction to complete in the first quarter of 2018. This tender offer is planned to expire on March 2, 2018, unless earlier terminated or extended.
Juno Therapeutics is building an integrated biopharma firm focused on advancing unique cellular immunotherapies for the cure of cancer. Established on the vision that the application of human cells as therapeutic entities will lead one of the next vital phases in drugs, Juno has advanced cell-based cancer immunotherapies grounded on high-affinity T cell receptor and chimeric antigen receptor technologies to genetically design T cells to identify and kill cancer. Numerous product candidates have demonstrated compelling clinical responses in clinical studies in refractory leukemia and lymphoma performed to date.
In the last trading session, the stock price of Juno Therapeutics gained marginally to close the day at $86.58. The gains came at a share volume of 4.30 million compared to average share volume of 6.89 million. After the recent session, the market cap of firm was noted at $9.89 billion.
On Friday, the stock price of Celgene gained more than 1% to close the day at $95.61. The gains came at a share volume of 4.03 million compared to average share volume of 7.90 million. Post the recent gains, the market cap of firm was noted at $71.92 billion.