Poniard Pharmaceuticals Reports Second Quarter 2009 Financial Results and Provides a Corpor...( SOUTH SAN FRANCISCO...)

SOUTH SAN FRANCISCO, Calif., Aug. 4 /PRNewswire-FirstCall/ -- Poniard Pharmaceuticals, Inc. (Nasdaq: PARD), a biopharmaceutical company focused on oncology, today reported financial results for the second quarter ended June 30, 2009, and provided a corporate update.

"During the American Society of Clinical Oncology Annual Meeting, we reported promising Phase 2 picoplatin data from our colorectal and prostate cancer programs. These data further enhance the value of picoplatin and are playing an important role in our discussions with potential global commercialization and development partners," said Jerry McMahon, Ph.D., chairman and chief executive officer of Poniard. "We remain on track to report results from our pivotal Phase 3 SPEAR trial of picoplatin in small cell lung cancer in the fourth quarter of 2009 with the goal of commercializing picoplatin in 2010."

Recent Clinical and Corporate Developments

Picoplatin Clinical Developments

• Cardiac Safety Study: Announced results from a cardiac safety study of picoplatin in patients with solid tumors. The study was designed in collaboration with the U.S. Food and Drug Administration (FDA), and evaluated the cardiac safety of picoplatin by determining its effect on the cardiac QT/QTc interval by using time-matched pharmacokinetics and electrocardiograms. A total of 45 patients with advanced solid malignancies received 150 mg/meter squared of picoplatin at seven clinical sites in the United States. Results from the study showed no clinical cardiac-related events. Data from this trial will be incorporated into picoplatin's rolling New Drug Application (NDA) filing, which the Company plans to initiate by the end of this year.
  

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