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

from a Phase 1 clinical trial of picoplatin combined with liposomal doxorubicin in patients with advanced solid tumors, including ovarian cancer. Results demonstrated robust signals of clinical efficacy in ovarian cancer patients and acceptable toxicity with this combination.

-- Oral Picoplatin: Presented results at the Annual Meeting of the American Association for Cancer Research (AACR) in April, from our ongoing Phase 1 clinical trial of oral picoplatin in patients with advanced solid tumors. Data from this trial showed that picoplatin can achieve oral bioavailability at levels that support further clinical development of this dosage form.

-- Platinum Resistance: Announced at the AACR Annual Meeting expanded preclinical data indicating that picoplatin retained its anti-tumor activity in SCLC cells resistant to previous treatment with cisplatin, carboplatin or oxaliplatin. These data support the property of picoplatin to overcome platinum resistance induced by currently available platinum agents.

In additional, we announced in April an agreement with AltheaDx to use its Express Pathway platform to identify molecular signatures that may be correlated with platinum resistance. The identification of molecular signatures of platinum resistance may lead to the development of biomarkers for platinum resistance.

Pipeline Development

-- Executed an agreement with The Scripps Research Institute licensing classes of protein kinase inhibitors for the treatment of human diseases, including cancer. The research collaboration was initiated in 2005 at Scripps Florida, a division of the Institute located in Palm Beach County, and later broadened to include The Scripps Research Institute, La Jolla, Calif. The license includes compounds that were discovered by Scripps Research in collaboration with Poniard.

Clinical Advisory Board

-- Appointed four additional members to the Clinical Advisory Board to help guide the expanding clinical
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SOURCE Poniard Pharmaceuticals, Inc.
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