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.
POINT Biopharma Global Inc. (NASDAQ: PNT) announces key updates on its early-stage programs, including the initiation of a Phase 1 trial for PNT6555, targeting multiple cancers, expected in summer 2022. The company has also started IND-enabling studies for PNT2001, a next-gen actinium-225 PSMA targeted program, with an IND/CTA filing anticipated in H1 2023. These initiatives aim to enhance patient access to innovative radiopharmaceutical treatments, potentially benefiting cancer patients significantly.
POINT Biopharma Global Inc. has operationalized its radiopharmaceutical manufacturing facility in Indianapolis to support the Phase 3 SPLASH trial for mCRPC. The facility began production of PNT2002 in January 2022, with expected top-line data from the trial due mid-2023. POINT will receive actinium-225 from the U.S. Department of Energy in 2022 to aid early-stage development, while also advancing regulatory discussions for PNT2003 targeting neuroendocrine tumors. The company aims to be a leader in the radiopharmaceutical space, leveraging its in-house manufacturing and secured isotope supplies.
POINT Biopharma Global Inc. announced the appointment of Matthew Vincent, Ph.D., J.D., as Senior Vice President of Business Development, effective January 4, 2022. Dr. Vincent has over 25 years of pharmaceutical business development experience, focusing on partnering and licensing, particularly in Asian markets. He aims to enhance POINT's strategic partnerships and drive the potential of its radiopharmaceuticals in cancer treatment. Previously, he held a senior role at Avacta Life Sciences and brings a strong background in oncology and immuno-oncology.
POINT Biopharma Global Inc. (NASDAQ: PNT) announced significant leadership changes effective December 1, 2021. Justyna Kelly has been promoted to Chief Operating Officer, bringing over 11 years of radiopharmaceutical experience. Dr. Robin Hallett has been elevated to Vice President of Discovery and Translational Sciences, focusing on the company’s pan-cancer programs. Dr. Sherin Al-Safadi will join as Vice President of Medical Affairs on December 13. Additionally, Jonathan Ross Goodman has been elected Lead Independent Director, while Michael Gottlieb has departed to pursue other opportunities.
POINT Biopharma has entered a technology licensing agreement with SCK CEN to enhance its production of no-carrier-added lutetium-177 (n.c.a. Lu-177). This collaboration aims to improve the company’s supply chain and reduce costs for n.c.a. Lu-177, which is essential for radiopharmaceuticals used in cancer treatment. The technology will enable POINT to efficiently produce a purer form of Lu-177, facilitating outpatient administration. Dr. Joe McCann announced the intent to ship their first clinical dose shortly, highlighting POINT's unique position in the radiopharmaceutical market.
POINT Biopharma Global Inc. (NASDAQ: PNT) will host a virtual educational event titled “The First Principles of Radiopharmaceuticals” on December 6, 2021, at 12:00 PM ET. The event is designed to provide insights into the unique qualities of radiopharmaceuticals in cancer treatment, including their manufacturing processes and short shelf lives. Attendees, including investors and industry stakeholders, will gain a deeper understanding of radiopharmaceuticals, highlighted by discussions led by the company's executive team. Registration is open online.
POINT Biopharma Global Inc. (NASDAQ: PNT) announced the initiation of the randomization phase in its Phase 3 SPLASH study of PNT2002 for metastatic castration-resistant prostate cancer (mCRPC). The company is on track to file an IND/CTA for PNT2004's lead, PNT6555, in early 2022. The new Indianapolis manufacturing facility is fully operational, with the first clinical product shipment expected by fiscal year-end 2021. Financially, the company reported a net loss of $17.1 million for Q3 2021, significantly higher than the $3.0 million loss in Q3 2020, with R&D expenses rising to $13.0 million.
POINT Biopharma Global Inc. (NASDAQ: PNT) has entered a long-term supply agreement with IONETIX Corporation for actinium-225 (Ac-225), aimed at bolstering POINT's drug development and clinical trials for Ac-225-based therapies. The agreement supports investigational studies for PNT2001, targeting non-metastatic castrate-sensitive prostate cancer, and PNT2004, a candidate for various cancers. POINT emphasizes utilizing the most effective radioisotope to advance their innovative radiopharmaceutical platform, enhancing their supply chain in collaboration with IONETIX.
POINT Biopharma Global Inc. (NASDAQ: PNT) announced a long-term agreement with Kinectrics Inc. for the supply of Ytterbium-176 (Yb-176), crucial for its Lutetium-177 (Lu-177) production. This partnership aims to secure a stable North American supply of n.c.a. Lu-177, which enhances patient access to radiopharmaceutical therapies. The agreement is expected to bolster POINT’s position in the radiopharmaceutical market and reduce the administrative burden on clinics, improving patient care.
ARTMS Inc. has submitted a Type 1 Master File to Health Canada for gallium-68 (Ga-68) production, aimed at addressing supply constraints of this vital medical isotope used in PET imaging. This strategic move includes a collaboration with POINT Biopharma and CanProbe to enhance the development of innovative radiopharmaceuticals in Canada. The Ga-68 regulatory filing is intended to improve supply chain efficiency and reduce costs while increasing availability through ARTMS' QUANTM Irradiation System, expected to significantly boost Ga-68 production capacity.
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