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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.
POINT Biopharma Global Inc. (NASDAQ: PNT) has successfully closed its public offering of 13,900,000 common shares at $9.00 each, generating gross proceeds of approximately $125 million. The funds will be allocated towards clinical research, pre-commercialization activities, and general corporate needs. The offering was managed by Piper Sandler, Guggenheim Securities, and Oppenheimer & Co. The securities are offered under an SEC registration statement, enhancing POINT's capabilities in radiopharmaceuticals aimed at cancer treatment.
POINT Biopharma Global Inc. (NASDAQ: PNT) announced the pricing of a public offering of 13,900,000 shares of Common Stock at $9.00 per share, expected to generate approx. $125 million in gross proceeds. The offering is set to close on or about September 16, 2022, subject to customary conditions. The funds will support clinical research, pre-commercialization activities, and general corporate purposes. Underwriters include Piper Sandler and Guggenheim Securities, with an option for an additional 2,085,000 shares.
POINT Biopharma Global Inc. (NASDAQ: PNT) announced a public offering of its common stock, along with a 30-day option for underwriters to purchase an additional 15%. The offering is subject to market conditions and does not guarantee completion. Proceeds will be used for clinical research, pre-commercial activities, and general corporate needs. Piper Sandler and Guggenheim Securities are acting as joint book-running managers. The offering is registered with the SEC and full details will be available soon.
POINT Biopharma Global has published positive data from the 27-patient safety and dosimetry lead-in for its phase 3 SPLASH trial evaluating PNT2002 for metastatic castration-resistant prostate cancer. Key findings include a median radiographic progression-free survival (rPFS) of 11.5 months and a 60% objective response rate in evaluable patients. The treatment showed a favorable safety profile, with no treatment-related deaths. The trial is currently enrolling participants across 53 sites in North America and Europe.
POINT Biopharma Global Inc. (NASDAQ: PNT) announced that data regarding the efficacy and safety of PNT2002 from the SPLASH trial will be presented at ESMO Congress 2022 in Paris on September 11. The presentation, titled “Efficacy and Safety of 177Lu-PNT2002 PSMA Therapy in Metastatic Castration Resistant Prostate Cancer,” will be delivered by Dr. Aaron R. Hansen. The SPLASH trial is a phase 3, multi-center study aimed at assessing PNT2002 in patients who have progressed on prior therapy. The trial will enroll approximately 400 participants, focusing on radiographic progression-free survival as the primary endpoint.
POINT Biopharma Global Inc. (NASDAQ: PNT) announced an upcoming abstract presentation at ESMO Congress 2022, focusing on the efficacy and safety of 177Lu-PNT2002 in metastatic castration-resistant prostate cancer (mCRPC). The data stems from a 27-patient safety cohort from the SPLASH Phase 3 trial. Additionally, they hosted a webinar detailing the trial's design and benchmarks. The SPLASH trial aims to enroll approximately 400 participants and is designed to evaluate the effectiveness of PNT2002 compared to standard treatments. Key endpoints include radiographic progression-free survival.
POINT Biopharma Global Inc. (NASDAQ: PNT) announced its financial results for Q2 2022, reporting a net loss of $24.6 million ($0.27 per share), compared to a loss of $8.8 million in Q2 2021. R&D expenses surged to $20.8 million, up from $6.7 million a year earlier. As of June 30, 2022, the company had $204.3 million in cash reserves, expected to sustain operations into Q1 2024. The company is advancing its pipeline, with ongoing Phase 3 SPLASH trial and a recently initiated Phase 1 FRONTIER trial.
POINT Biopharma Global Inc. (NASDAQ: PNT) announced its participation in two investor conferences in July 2022. The William Blair & Company – Biotech Focus Conference will feature Dr. Neil Fleshner on July 13, 2022, at 1:00 pm ET. The Brookline Capital Markets – Newport Biotech Symposium will take place on July 18, 2022, with CEO Dr. Joe McCann, engaging in one-on-one meetings from 9:30 am ET to 4:00 pm ET. POINT focuses on developing radiopharmaceuticals and improving access to innovative cancer treatments.
POINT Biopharma Global Inc. (NASDAQ: PNT) has appointed Chris Horvath as Executive Vice President, Commercial. Horvath brings nearly 20 years of pharmaceutical experience, particularly in oncology, having previously led the Prostate Cancer Radioligand Therapy Franchise at Advanced Accelerator Applications. His role will focus on commercializing POINT’s pipeline, enhancing its growth strategy. Dr. Joe McCann, POINT's CEO, highlighted the shortage of experienced leaders in radiopharmaceutical commercialization, emphasizing Horvath's potential contributions to the company's growth and the expansion of revolutionary cancer treatments.
POINT Biopharma Global Inc. (NASDAQ: PNT) announced that CEO Dr. Joe McCann will participate in two upcoming investor conferences. The first is the UBS Global Healthcare Conference on May 24, 2022, at 9:15 am ET, followed by the Jefferies Healthcare Conference on June 9, 2022, at 10:00 am ET. Webcasts will be available on the company's website, with archived replays accessible for about 30 days. POINT Biopharma focuses on developing radiopharmaceuticals for cancer treatment, emphasizing its strong pipeline and manufacturing capabilities.
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