Celgene Switzerland SA, a subsidiary of Celgene Corp. (CELG, Financial) and 10% owner of Jounce Therapeutics Inc. (JNCE, Financial), purchased 625,000 shares of the company on Feb. 2, according a filing with the SEC.
Headquartered in Cambridge, Massachusetts, Jounce is a clinical stage company that develops and manufactures drugs and immunotherapies. It produces cancer immunotherapies designed to harness the immune system and attack cancerous cells and tumors.
Jounce Therapeutics announced its initial public offering of 6,365,000 shares of common stock at $16 per share on Jan. 26. It has a market cap of $529.85 million and a quick ratio of 1.96.
Below is a table of Jounce's pipeline.
According to GuruFocus, Jounce has a 5 of 10 financial strength rating with no debt. The company has an Altman Z-score of 1.43, indicating it is in the distress zone and is in danger of filing for bankruptcy within the next two years.
The company has a 3 of 10 profitability and growth rating, which indicates it may have difficulty making a profit in the future.
Since its initial public offering, the company’s market price has gained an estimate 6%.
Disclosure: Author does not own any shares of this company.
Start a free 7-day trial of Premium Membership to GuruFocus.
