Point Therapeutics may file for Chapter 11

Mon Feb 4, 2008 9:03am EST

Feb 4 (Reuters) - Point Therapeutics Inc POTP.O said in a regulatory filing that it may file for bankruptcy protection under Chapter 11 if the merger with privately held Dara BioSciences fails and no other strategic deal is completed.

In October 2007, biopharmaceutical company Point Therapeutics agreed to be acquired by Dara BioSciences, financial terms of which were not disclosed. (Reporting by Shivani Singh in Bangalore; Editing by Himani Sarkar)

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