Point Therapeutics, Inc. Proposed Public Offering Update
28 October 2005 - 11:21PM
Business Wire
Point Therapeutics, Inc. (NASDAQ: POTP) announced today that the
company has determined not to price it its previously announced
public offering of 6,000,000 shares of common stock this week. "We
are encouraged with the interest shown by the investment community
in Point Therapeutics," said Don Kiepert, President and CEO of
Point. "However, in light of current market conditions, we have
decided not to price the offering this week. We plan to continue to
evaluate market conditions and will proceed when we believe it is
in the best interest of the company." A shelf registration relating
to these shares was originally filed with the Securities and
Exchange Commission on December 17, 2004 and has since been
declared effective by the SEC on January 12, 2005. The offering
will be made pursuant to a prospectus supplement to the prospectus
contained in the shelf registration statement, which prospectus
supplement will be filed with the SEC. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state. Copies of the preliminary prospectus supplement relating to
the offering may be obtained from Pacific Growth Equities, LLC, c/o
Prospectus Department, One Bush Street, Suite 1700, San Francisco,
CA 94104, (415) 274-6819. Certain statements contained herein are
not strictly historical and are "forward looking" statements as
defined in the Private Securities Litigation Reform Act of 1995.
This information includes statements with respect to the
anticipated public offering. Forward-looking statements are
statements that are not historical facts, and can be identified by,
among other things, the use of forward-looking language, such as
"believes," "feels," "expects," "may," "will," "should," "seeks,"
"plans," "schedule to," "anticipates" or "intends" or the negative
of those terms, or other variations of those terms of comparable
language, or by discussions of strategy or intentions. A number of
important factors could cause actual results to differ materially
from those projected or suggested in the forward looking statement,
including the risk factors described in Point's Preliminary
Prospectus Supplement filed with the Securities and Exchange
Commission on October 21, 2005 and from time to time in Point's
periodic and other reports filed with the Securities and Exchange
Commission.
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