Lilly Completes Acquisition of Point Biopharma

Eli Lilly and Company (NYSE: LLY) acquired POINT Biopharma Global Inc. (NASDAQ: PNT), a radiopharmaceutical company with a pipeline of clinical and preclinical-stage radioligand therapies in development for the treatment of cancer.

Lilly’s tender offer to acquire all of the issued and outstanding shares of common stock of POINT at a purchase price of $12.50 per share in cash, without interest and less any applicable tax withholding, expired as scheduled at 5:00 p.m., Eastern time, on Dec. 22, 2023, and was not further extended.

Following completion of the tender offer, Lilly completed the acquisition of POINT through the previously planned second-step merger. POINT’s common stock will be delisted from the NASDAQ Capital Market.

Eli Lilly and Company (NYSE: LLY) acquired POINT Biopharma Global Inc. (NASDAQ: PNT), a radiopharmaceutical company with a pipeline of clinical and preclinical-stage radioligand therapies in development for the treatment of cancer. Best wishes to everyone in the group. This will be a huge accomplishment for them in the future.

Shishir Gupta, The Founder & CEO of StartupLanes

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