Juno CEO, CFO snag bonuses after $1 billion Celgene deal
- Biotech Juno Therapeutics awarded its CEO, Hans Bishop, with a nearly $150,000 bonus for "exceptional contributions," bringing his annual bonus for 2015 to $425,000. CFO Steven Harr received $320,000 in bonuses in 2015.
- In July 2015, the pharma giant Celgene paid Juno $1 billion upfront for a 10-year collaboration deal focused on developing CAR-T and T-cell receptor immunotherapies.
- Recently, however, Juno's stock has stumbled, shedding nearly half of its value from last November.
Juno's CEO was one of the highest paid executives in the United States in 2014, according data compiled by Bloomberg. Bishop earned $88.2 million in salary, bonus, and stock. Slumping share values to close out 2015 will have dented any shares Juno awarded him in 2015.
When Celgene inked its collaboration deal with Juno, it purchased 9.1 million shares at $93 per share (a premium at the time). Compare that to the current stock price of just under $28.
The overall biotech sector has been under pressure of late, with major biotech stock indices entering bear market territory over the last three months (defined as a drop of 20% or more).
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