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

$- $-

Operating expenses:

Research and development 6,336 5,500

General and administrative 4,183 2,400

Total operating expenses 10,519 7,900

Loss from operations (10,519) (7,900)

Other income (expense), net 664 171

Net loss (9,855) (7,729)

Preferred stock dividends (125) (125)

Loss applicable to common shares $(9,980) $(7,854)

Loss per share:

Basic and diluted $(0.29) $(0.34)

Shares used in calculation of loss per share:

Basic and diluted 34,681 22,808

Condensed Consolidated Balance Sheets

(In thousands)

(Unaudited)

March 31, December 31,

2008 2007

ASSETS:

Cash and investment securities $84,694 $92,621

Cash - restricted 281 281

Facilities and equipment, net 1,085 1,121

Licensed products, net 9,717 10,021

Other assets 1,341 1,096

Total assets $97,118 $105,140

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities $9,956 $9,474

Long term liabilities 5,606 6,561

Shareholders' equity 81,556
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SOURCE Poniard Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
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