Biopharmaceutical company Point Therapeutics Inc. on Friday said it will push testing of its treatment for metastic pancreatic cancer to completion after a second-phase study yielded encouraging results.

The company expects final results from the project in the middle of this year.

Point Therapeutics said during the second phase of the study it found no unexpected toxicities that would prevent the company from continuing to test talabostat in combination with gemcitabine. Talabostat is the company's lead product candidate.

Shares of Point Therapeutics rose 32 cents to $1.18 in premarket trading, having closed down Thursday at 85 cents on the Nasdaq Stock Market.