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POINT Biopharma Global Inc. - PNT STOCK NEWS

Welcome to our dedicated page for POINT Biopharma Global news (Ticker: PNT), a resource for investors and traders seeking the latest updates and insights on POINT Biopharma Global stock.

POINT Biopharma Global Inc. (PNT) is a novel biotechnology company dedicated to the development and commercialization of radiopharmaceutical products, which are designed to address unmet patient needs in oncology. Based in Indianapolis, POINT has established itself as a key player in precision oncology by leveraging cutting-edge technologies and a robust pipeline of radioligand therapies.

POINT's primary focus is on radioligand therapy (RLT), a targeted treatment that combines a radioactive isotope with a molecule that binds specifically to cancer cells. One of the company's flagship projects includes 177Lu-PNT2002, an advanced prostate-specific membrane antigen (PSMA)-targeted RLT for treating metastatic castration-resistant prostate cancer (mCRPC). The Phase 3 SPLASH study recently demonstrated that 177Lu-PNT2002 significantly improves radiographic progression-free survival, showcasing its potential to become a vital treatment option for patients who have progressed on androgen receptor pathway inhibitors.

POINT Biopharma's extensive pipeline also includes other promising candidates, supported by robust in-house manufacturing capabilities and secured supplies of medical isotopes like actinium-225 and lutetium-177. This ensures a reliable production and distribution network, critical for advancing clinical development and commercialization efforts.

The company's financial condition and strategic partnerships have been strengthened by significant milestones. Notably, POINT Biopharma is in the process of being acquired by Eli Lilly and Company (NYSE: LLY) for approximately $1.4 billion, equating to $12.50 per share in cash. This acquisition, supported by the U.S. Nuclear Regulatory Commission's consent for the transfer of POINT's radioactive materials license, is expected to close by the end of 2023, pending the satisfaction of customary closing conditions. As of December 2023, the tender offer has seen substantial shareholder participation, with over 67% of shares tendered.

Founded on a vision of transforming cancer treatment, POINT Biopharma's commitment to innovative therapies and strategic growth positions it as a leader in the radiopharmaceutical industry. The company's alignment with Eli Lilly, a pioneer in life-changing biotechnology and pharmaceuticals, is set to further enhance its capabilities and reach, promising better outcomes for cancer patients worldwide.

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Domain Therapeutics (Domain), a clinical-stage global biopharmaceutical company developing innovative drug candidates in immuno-oncology targeting G Protein-Coupled Receptors (GPCRs), announces the appointments of Michael Gottlieb as Chairman of the Board of Directors and Anthony Johnson, M.D., as President and Chief Executive Officer.
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Eli Lilly and Company (NYSE: LLY) successfully completed the acquisition of POINT Biopharma Global Inc. (NASDAQ: PNT), a radiopharmaceutical company with a pipeline of clinical and preclinical-stage radioligand therapies for cancer treatment. The acquisition was completed through a tender offer and a second-step merger. Lilly acquired approximately 67.97% of POINT's outstanding shares. The acquisition marks Lilly's entry into the next-generation radioligand therapies space, with the goal of bringing new radioligand therapies to cancer patients to improve their outcomes.
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Lantheus Holdings, Inc. (LNTH) and POINT Biopharma Global Inc. (PNT) announced statistically significant topline results from the phase 3 SPLASH study of 177Lu-PNT2002, demonstrating a 29% reduction in the risk of radiographic progression or death in patients with metastatic castration-resistant prostate cancer (mCRPC) after progression on an androgen receptor pathway inhibitor (ARPI). The study met its primary endpoint, with a median radiographic progression-free survival of 9.5 months for patients treated with 177Lu-PNT2002 compared to 6.0 months for patients treated with ARPI in the control arm. The study showed a favorable safety profile and lower toxicity in the 177Lu-PNT2002 arm. Additional data is expected in 2024 prior to the potential submission of a New Drug Application (NDA).
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Eli Lilly and Company (LLY) extends the expiration of the tender offer to acquire all shares of POINT Biopharma Global Inc. (PNT) at $12.50 per share in cash. The offer has been extended until Dec. 22, 2023, to fulfill the minimum tender condition. Approximately 22.81% of the issued and outstanding shares have been tendered as of Dec. 15, 2023.
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Eli Lilly and Company (NYSE: LLY) extends tender offer to acquire POINT Biopharma Global Inc. (NASDAQ: PNT) for $12.50 per share in cash, without interest. The offer has been extended until Dec. 15, 2023, to satisfy the minimum tender condition. Approximately 24.75% of the issued and outstanding shares have been tendered as of Dec. 1, 2023.
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Eli Lilly and Company (NYSE: LLY) extends the expiration of the tender offer to acquire all outstanding shares of POINT Biopharma Global Inc. (NASDAQ: PNT) at $12.50 per share in cash. The offer, previously set to expire on Nov. 16, 2023, has been extended to Dec. 1, 2023, to satisfy the minimum tender condition. Regulatory approvals have been obtained, and approximately 26.45% of the outstanding shares have been tendered.
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Eli Lilly and Company (NYSE: LLY) obtains NRC Consent for the indirect transfer of control of POINT Biopharma Global Inc.'s (NASDAQ: PNT) radioactive materials license. This follows the completion of Lilly's tender offer to acquire all POINT's common stock for $12.50 per share in cash. The NRC Consent is the final regulatory approval needed for the transaction.
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POINT Biopharma Global Inc. (NASDAQ: PNT) announced a definitive agreement to be acquired by Eli Lilly and Company (NYSE: LLY) for $12.50 per share in cash, totaling $1.4 billion. The acquisition is expected to close near the end of 2023. The PR also includes business updates, financial results, and upcoming milestones for POINT's radiopharmaceutical programs.
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Eli Lilly and Company (LLY) extends tender offer to acquire POINT Biopharma Global Inc. (PNT) shares at $12.50 per share in cash, with the expiration now set for Nov. 16, 2023. Approximately 14.16% of the outstanding shares have been tendered as of Nov. 8, 2023.
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Eli Lilly and Company to acquire POINT Biopharma Global, Inc. for $1.4 billion, expanding its radioligand therapy pipeline for cancer treatment.
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FAQ

What is the market cap of POINT Biopharma Global (PNT)?

The market cap of POINT Biopharma Global (PNT) is approximately 1.3B.

What is POINT Biopharma Global Inc. (PNT)?

POINT Biopharma is a biotechnology company focused on developing and commercializing radiopharmaceutical products to meet unmet patient needs, particularly in oncology.

What are radiopharmaceutical products?

Radiopharmaceutical products combine radioactive isotopes with molecules that specifically target cancer cells, providing a targeted treatment option for various cancers.

What is 177Lu-PNT2002?

177Lu-PNT2002 is a prostate-specific membrane antigen (PSMA)-targeted radioligand therapy developed by POINT Biopharma for treating metastatic castration-resistant prostate cancer (mCRPC).

How did 177Lu-PNT2002 perform in clinical trials?

The Phase 3 SPLASH study demonstrated that 177Lu-PNT2002 significantly improves radiographic progression-free survival in patients with mCRPC, showing a 29% reduction in the risk of radiographic progression or death.

Who is acquiring POINT Biopharma?

POINT Biopharma is being acquired by Eli Lilly and Company for approximately $1.4 billion or $12.50 per share in cash, pending the satisfaction of customary closing conditions.

When is the acquisition by Eli Lilly expected to close?

The acquisition is expected to close by the end of 2023, subject to the satisfaction of all customary closing conditions.

What approvals were needed for the POINT Biopharma acquisition?

The U.S. Nuclear Regulatory Commission's consent for the transfer of POINT's radioactive materials license was the last regulatory approval necessary for the consummation of the acquisition by Eli Lilly.

What are some key achievements of POINT Biopharma?

Key achievements include the successful Phase 3 SPLASH study for 177Lu-PNT2002 and the strategic acquisition agreement with Eli Lilly.

What does the acquisition mean for POINT Biopharma's future?

The acquisition by Eli Lilly is expected to enhance POINT Biopharma's capabilities and reach, potentially bringing several new radioligand therapies to patients with cancer.

Where can investors find more information about the tender offer?

Investors can access the tender offer materials on Eli Lilly's website or the SEC's website at www.sec.gov.

POINT Biopharma Global Inc.

Nasdaq:PNT

PNT Rankings

PNT Stock Data

1.33B
90.61M
14.98%
48.91%
2.82%
Biotechnology
Healthcare
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United States
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