BOSTON--(BUSINESS WIRE)--Point Therapeutics, Inc. (NASDAQ: POTP) announced today that it has priced a registered direct offering for the sale of 6,523,776 shares of its common stock at a price of $0.73 per share. The investors in this offering will also receive five-year warrants, exercisable upon expiration of a lock-up period of six-months, to purchase an additional 978,566 shares of common stock at an exercise price of $1.00 per share. The Company expects the transaction to close on February 6, 2007, subject to the satisfaction of customary closing conditions. The offered shares are registered pursuant to Point’s shelf registration statement that was declared effective by the Securities and Exchange Commission on January 12, 2005.
