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Poniard Pharmaceuticals Files Shelf Registration
Date:5/15/2009

SOUTH SAN FRANCISCO, Calif., May 15 /PRNewswire-FirstCall/ -- Poniard Pharmaceuticals, Inc. (Nasdaq: PARD), a biopharmaceutical company focused on oncology, today announced that it has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission (SEC) that, when declared effective by the SEC, will allow Poniard from time to time to offer and sell up to $60 million aggregate amount of its common stock, common stock warrants or a combination thereof.

The shelf registration, once effective, is intended to provide the Company with flexibility to facilitate the periodic sale of its securities, subject to market conditions and the Company's future financing needs. Poniard intends to use the proceeds from the sale of any securities to advance its picoplatin clinical program, pursue potential new product opportunities and for other general corporate purposes.

The shelf registration statement filed with the SEC has not yet become effective. No securities may be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Any offer of the securities will be solely by means of the prospectus included in the registration statement and one or more prospectus supplements that will be issued at the time of the offering.

About Poniard Pharmaceuticals

Poniard Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of innovative oncology products to impact the live
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SOURCE Poniard Pharmaceuticals, Inc.
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