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Poniard Pharmaceuticals Reports Third Quarter 2009 Financial Results and Provides a Corporate Update
Date:11/3/2009

the quarter ended September 30, 2008. Research and development expenses were $19.2 million for the nine months ended September 30, 2009, compared with $24.5 million for the same period in 2008.

General and administrative expenses were $3.8 million for the quarter ended September 30, 2009, compared with $3.4 million for the quarter ended September 30, 2008. General and administrative expenses were $10.3 million for the nine months ended September 30, 2009, compared with $11.3 million for the same period in 2008.

Cash and investment securities as of September 30, 2009, were $40.1 million, compared with $72.8 million at December 31, 2008. The Company believes that its existing cash and investment securities will provide adequate resources to fund the Company's operations at least into the first quarter of 2010.

Goals and Objectives

  • Report top-line results from the pivotal Phase 3 SPEAR trial in SCLC in November;
  • Initiate submission of a rolling NDA with the FDA for picoplatin as a treatment for refractory or recurrent SCLC in 2009, targeting NDA approval and commercialization in 2010;
  • Continue to explore a potential development and commercialization partnership for picoplatin to maximize shareholder value;
  • Present updated data from the Phase 2 trial in colorectal cancer and the final Phase 1 cardiac safety trial results at the AACR - NCI - EORTC Symposium being held in Boston, November 15-19; and
  • Present data from the pivotal Phase 3 SPEAR trial in SCLC at international medical conferences next year.

Conference Call Details

Poniard's management team will host a live conference call and Webcast today at 5:00 p.m. Eastern Time/2:00 p.m. Pacific Time. To participate by telephone, please dial 888-349-9587 from the U.S. or 719-457-2631 for international callers. The W
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SOURCE Poniard Pharmaceuticals, Inc.
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