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Poniard Pharmaceuticals Reports Second Quarter 2008 Financial Results and Corporate Update
Date:7/31/2008

- Conference Call Today at 5:00 p.m. Eastern Time -

SOUTH SAN FRANCISCO, Calif., July 31 /PRNewswire-FirstCall/ -- Poniard Pharmaceuticals, Inc. (Nasdaq: PARD), a biopharmaceutical company focused on oncology, today reported on its corporate progress and financial results for the second quarter ended June 30, 2008.

"Our strategy and focus are to develop picoplatin as an oncology platform compound addressing multiple indications, combinations and formulations. Our accomplishments during the second quarter are consistent with this objective," said Jerry McMahon, Ph.D., chairman and CEO of Poniard. "We are on track to commercialize picoplatin for the treatment of small cell lung cancer (SCLC) in 2010. We presented data at the American Society of Clinical Oncology (ASCO) Annual Meeting in June, illustrating the platform potential of picoplatin in multiple solid tumor indications, including metastatic colorectal cancer (CRC), hormone refractory prostate cancer (HRPC) and ovarian cancer. Data from these trials could support future trials and may be of significant interest to potential partners. We are building a comprehensive strategy to direct our clinical development plan for further development of picoplatin in a wide range of tumor types."

Second Quarter and Recent Highlights

Picoplatin Clinical Development Program

-- Small Cell Lung Cancer: Presented final data in April from our Phase 2 trial of picoplatin in SCLC at the International Association for the Study of Lung Cancer and the European Society for Medical Oncology's 1st European Lung Cancer Conference. Final efficacy results confirmed previously announced interim results showing median overall survival in the picoplatin Phase 2 trial w
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SOURCE Poniard Pharmaceuticals, Inc.
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