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Poniard Pharmaceuticals Reports First Quarter 2008 Financial Results and Corporate Update
Date:5/6/2008

- Conference Call Today at 5:00 p.m. Eastern Time -

SOUTH SAN FRANCISCO, Calif., May 6 /PRNewswire-FirstCall/ -- Poniard Pharmaceuticals, Inc. (Nasdaq: PARD), a biopharmaceutical company focused on oncology, today reported on its corporate progress and financial results for the first quarter ended March 31, 2008.

"During the first quarter, we made significant progress in moving our clinical trials forward and generating data to demonstrate the potential of picoplatin as a new generation platinum therapy," said Jerry McMahon, Ph.D., chairman and CEO of Poniard. "Our pivotal Phase 3 SPEAR trial in small cell lung cancer continues to enroll patients. Today, we are pleased to announce the completion of patient enrollment in our Phase 2 trial in metastatic colorectal cancer. The results of our Phase 1 trials in prostate cancer and colorectal cancer were presented earlier this year. Encouraging bioavailability data has been presented from our ongoing Phase 1 trial of oral picoplatin. We secured commercial manufacture and supply of picoplatin drug substance. A new chief medical officer was appointed to expedite the clinical development of picoplatin through product approval. Our accomplishments this quarter are consistent with the development of picoplatin as a platform product addressing multiple indications, combinations and formulations."

First Quarter and Recent Highlights

Picoplatin and Development Pipeline

* Small Cell Lung Cancer: Presented final data from our Phase 2 trial

of picoplatin in small cell lung cancer (SCLC) at the International

Association for the Study of Lung Cancer and the European Society

for Medical Oncology's 1st European Lung Canc
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SOURCE Poniard Pharmaceuticals, Inc.
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