Point Therapeutics to Sell 3.65 Million Shares

Drug development firm Point Therapeutics said recently it plans to sell 3.65 million of its common shares at $4.50 each in a direct offering, primarily to institutional investors. Point Therapeutics shares fell 67 cents, or 12.6 percent, to $4.63 in morning trading on the Nasdaq. The company said SG Cowen & Co. acted as lead agent and sole book manager and RBC Capital Markets served as the co-agent for the offering.

Yahoo News (http://biz.yahoo.com/ap/050301/point_therapeutics_stock_offer_1.html)