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Poniard Pharmaceuticals Reports Second Quarter 2009 Financial Results and Provides a Corporate Update
Date:8/4/2009

red with $15.5 million for the same period in 2008.

General and administrative expenses (G&A) were $3.4 million for the quarter ended June 30, 2009, compared with $3.7 million for the quarter ended June 30, 2008. G&A expenses were $6.5 million for the six months ended June 30, 2009, compared with $7.9 million for the same period in 2008.

Cash and investment securities as of June 30, 2009, were $49.9 million, compared with $72.8 million at December 31, 2008. Management currently believes the existing cash and investment securities will provide adequate resources to fund the Company's operations into the first quarter of 2010.

Goals and Objectives

  • Report results from the pivotal Phase 3 SPEAR trial in small cell lung cancer (SCLC) in the fourth quarter of 2009;

  • Present data from the pivotal Phase 3 SPEAR trial in SCLC at a major medical meeting;

  • Initiate submission of a rolling NDA with the FDA for picoplatin as a second-line treatment for SCLC in 2009, targeting approval and commercialization in 2010; and

  • Pursue a global development and commercialization partnership for picoplatin, providing substantial non-dilutive capital and royalties for Poniard to develop an oncology business in the United States.

Conference Call Details

Poniard's management team will host a live conference call and Webcast today at 4:30 p.m. Eastern Time/1:30 p.m. Pacific Time. To participate by telephone, please dial 888-515-2880 from the U.S. or 719-457-2652 for international callers. The Webcast can be accessed on the "Events" page of the "News & Events" section of the Company's Web site at http://ww
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SOURCE Poniard Pharmaceuticals, Inc.
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