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

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Operating expenses:

Research and development 9,151 5,812 15,487 11,312

General and administrative 3,723 3,378 7,906 5,778

Total operating expenses 12,874 9,190 23,393 17,090

Loss from operations (12,874) (9,190) (23,393) (17,090)

Other income (expense), net 343 662 1,007 833

Net loss (12,531) (8,528) (22,386) (16,257)

Preferred stock dividends (125) (125) (250) (250)

Loss applicable to common shares $(12,656) $(8,653) $(22,636) $(16,507)

Loss per share:

Basic and diluted $(0.36) $(0.28) $(0.65) $(0.62)

Shares used in calculation of loss

per share:

Basic and diluted 34,688 30,751 34,684 26,801

Condensed Consolidated Balance Sheets

(In thousands)

(Unaudited)

June 30, December 31,

2008 2007

ASSETS:

Cash and investment securities $75,106 $92,621

Cash - restricted 281 281

Facilities and equipment, net 1,150 1,121

Licensed products, net 9,414 10,021

Other assets 1,528 1,096

Total assets $87,479 $105,140

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities $12,414 $9,474

Long term liabilities 4,621 6,561

Shareholders' equity 70,444 89,105

Total liabilities and shareholders'

equity $87,479 $105,140

This release contains forward-looking statements, inclu
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SOURCE Poniard Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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