Eli Lilly extends tender offer to buy Point Biopharma to Dec. 15

(Reuters) – Eli Lilly (NYSE:), on Monday, gave Point Biopharma Global shareholders more time to sell their stock to the drugmaker amid low participation since the offer price was below the current stock price of the radiopharma developer.

Eli Lilly’s new deadline is Dec. 15 but maintained its offer price at $12.50 per share despite it being more than 10% lower than Point’s share price of $13.8 at close on Friday.