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Juno Therapeutics soars in Nasdaq debut

Juno Therapeutics soared in its Nasdaq debut Friday, after pricing above its expected range. CEO Hans Bishop told CNBC he thinks investors are generally optimistic about immunotherapy, as well as the biopharmaceutical company's cancer treatments in development.

"I think there's a recognition that we are making real progress towards potential breakthroughs that could offer new hope to these patients battling the disease," Bishop said in an interview with "Squawk on the Street."

Juno rose as much as 64.5 percent in its market debut, valuing the company at about $3 billion.

It priced its 11 million shares at $24, above the expected range of $21 to $23. The initial public offering raised $264.5 million.

Juno Therapeutics IPO at Nasdaq
Nasdaq

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Juno is working on the development of cell-based cancer immunotherapies that genetically engineer "T" cells to recognize and kill cancer cells.

Bishop acknowledged the treatments are in the early days of development and that so far, the clinical trial data focus on blood cancers.

"There's promise and there's expectation and the early results are very encouraging of the potential of this treatment but ... it's early days."

He said Juno has a broad pipeline of 10 different product candidates going into clinical trials next year that spans a number of blood cancers and solid tumors.

"Clearly our priority is to move forward with clinical trials and generate more data and experience that tells us how to take these potential medicines forward," Bishop said.

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—Reuters contributed to this story.