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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 RHl1syg93rsEQIkTrr8ZouZd2V0JF7q0NWc6qDJCcTAFPGKjIiZLfrStYTk41H/A
 lBEUVEZxorlkNStUYZfyfQ==

<SEC-DOCUMENT>0001181431-04-016495.txt : 20040318
<SEC-HEADER>0001181431-04-016495.hdr.sgml : 20040318
<ACCEPTANCE-DATETIME>20040318192423
ACCESSION NUMBER:		0001181431-04-016495
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040316
FILED AS OF DATE:		20040318

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SMALL RICHARD N
		CENTRAL INDEX KEY:			0001237201

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23776
		FILM NUMBER:		04678657

	MAIL ADDRESS:	
		STREET 1:		C/O POINT THERAPEUTICS INC
		STREET 2:		125 SUMMER STREET SUITE 1840
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			POINT THERAPEUTICS INC
		CENTRAL INDEX KEY:			0000919745
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				043216862
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		125 SUMMER STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		6179332130

	MAIL ADDRESS:	
		STREET 1:		125 SUMMER STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HMSR INC
		DATE OF NAME CHANGE:	20010618

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HEMASURE INC
		DATE OF NAME CHANGE:	19940315
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd37108.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-03-16</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000919745</issuerCik>
        <issuerName>POINT THERAPEUTICS INC</issuerName>
        <issuerTradingSymbol>POTP.OB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001237201</rptOwnerCik>
            <rptOwnerName>SMALL RICHARD N</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O POINT THERAPEUTICS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>125 SUMMER STREET</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02110</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>SeniorVP,CFO,Treasurer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>6.00</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-03-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>125000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2014-03-16</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>125000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>380252</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Exercisable in 25% increments on each anniversary of the date of grant.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Richard Small</signatureName>
        <signatureDate>2004-03-17</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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