Poniard Pharmaceuticals Reports Third Quarter 2009 Financial Results and Provides a Corpor...( SOUTH SAN FRANCISCO Calif. Nov. 3 /- ...)

SOUTH SAN FRANCISCO, Calif., Nov. 3 /PRNewswire-FirstCall/ -- Poniard Pharmaceuticals, Inc. (Nasdaq: PARD), a biopharmaceutical company focused on oncology, today reported financial results for the third quarter ended September 30, 2009, and provided a corporate update.

"During the third quarter, we reached the 320th event target in our pivotal Phase 3 SPEAR trial, which is evaluating picoplatin for the treatment of small cell lung cancer. This event allowed us to collect the data for overall survival analysis," said Jerry McMahon, Ph.D., chairman and chief executive officer of Poniard. "We expect to report top-line results from the SPEAR registration trial this month and plan to present the data at international medical conferences next year. If the top-line results are positive, we plan to initiate a rolling submission of a New Drug Application with the U.S. Food and Drug Administration by year-end, targeting approval and commercial launch of picoplatin in 2010."

Recent Clinical and Corporate Developments

Picoplatin Clinical Update

• Announced in September that 320 evaluable events (patient deaths) occurred in the pivotal Phase 3 SPEAR (Study of Picoplatin Efficacy After Relapse) trial, evaluating picoplatin in the treatment of small cell lung cancer (SCLC). The 320th event in the registration SPEAR trial was defined in the Special Protocol Assessment with the U.S. Food and Drug Administration (FDA), which allowed the Company to collect the data for overall survival analysis, which is the primary endpoint of the trial. This randomized trial is comparing picoplatin with best supportive care to best supportive care alone without systemic chemotherapy.
  

Corporate Update

• Secured a committed equity financing facility in August under which Poniard may, over a
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