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

ting of the

American Association for Cancer Research. Data from this Phase 1

trial of oral picoplatin showed that picoplatin can achieve oral

bioavailability and supports further clinical development. These

results enable further clinical trials of oral picoplatin in new

combinations with radiation and oral chemotherapies as well as

targeted agents.

* Platinum Resistance: In April, we also announced preclinical

findings demonstrating that picoplatin retains its activity in SCLC

cell lines made resistant by treatment with cisplatin, carboplatin

or oxaliplatin. The data suggests that picoplatin may overcome

platinum resistance induced by currently available platinum agents.

We also announced an agreement with AltheaDx to use its Express

Pathway platform to identify molecular signatures that may be

correlated with platinum resistance. The identification of molecular

signatures of platinum resistance may lead to the development of

biomarkers for platinum resistance.

* Picoplatin Drug Substance Manufacturing: We announced an agreement

with W. C. Heraeus GmbH for the manufacture and supply of picoplatin

drug substance to support our clinical trials and commercial product

needs.

Management Appointments

* Appointed Robert De Jager, M.D., as chief medical officer of the

Company who brings a depth of experience to our clinical development

programs to help the company position picoplatin for the global

oncology marketplace

First Quarter 2008 Unaudited Financial Results

The Company reported a net loss of $9.9 million ($0.29 diluted loss per share on a loss applicable to common shares of $10.0 million) for the first quarter of 2008 compared to a net loss of $7.7 million ($0.34
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SOURCE Poniard Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
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