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Poniard Pharmaceuticals Reports Third Quarter 2008 Financial Results and Corporate Update
Date:10/30/2008

py with an improved safety profile relative to existing platinum-based cancer therapies. Picoplatin is designed to overcome platinum resistance associated with chemotherapy in solid tumors, and is being studied in multiple cancer indications, combinations and formulations. Clinical trials of intravenous picoplatin include a Phase 3 trial in small cell lung cancer and Phase 2 trials in metastatic colorectal and hormone-refractory prostate cancers, as well as a clinical trial of oral picoplatin in solid tumors. Picoplatin has not been approved by any regulatory authority for use in humans. For additional information please visit http://www.poniard.com.

Poniard Pharmaceuticals, Inc.

Condensed Consolidated Statements of Operations

(In thousands, except per share amounts)

(Unaudited)

Three Months Ended Nine Months Ended

September 30, September 30,

2008 2007 2008 2007

Revenues $- $- $- $-

Operating expenses:

Research and development 9,024 5,050 24,511 16,362

General and administrative 3,383 2,806 11,289 8,584

Total operating expenses 12,407 7,856 35,800 24,946

Loss from operations (12,407) (7,856) (35,800) (24,946)

Other income, net 170 897 1,177 1,730

Net loss (12,237) (6,959) (34,623) (23,216)

Preferred stock dividends (125) (125) (375) (375)

Net loss applicable to common

shares $(12,362) $(7,084) $(34,998) $(23,591)

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SOURCE Poniard Pharmaceuticals, Inc.
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