Point Therapeutics Announces Exercise And Closing Of Underwriters’ Over-Allotment Option; Aggregate Of $25.8 Million Raised

BOSTON--(BUSINESS WIRE)--Dec. 2, 2005--Point Therapeutics, Inc. (NASDAQ: POTP) announced today that the underwriters of its previously announced public offering have exercised their option to purchase an additional 1,207,500 shares of common stock from Point to cover over-allotments. The offering, including the exercise of the over-allotment option, was made under the company’s existing shelf registration statement, and resulted in the sale of a total of 9,257,500 shares of the company’s stock at a price to the public of $3.00 per share. Aggregate net proceeds to the company, after the giving effect to the exercise of the over-allotment option, were approximately $25.8 million, after payment of underwriting discounts and commissions, but excluding offering expenses.

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