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Poniard Pharmaceuticals Reports Third Quarter 2008 Financial Results and Corporate Update

s per share:

Basic and diluted $(0.36) $(0.20) $(1.01) $(0.80)

Shares used in calculation of loss

per share:

Basic and diluted 34,688 34,657 34,685 29,449

Condensed Consolidated Balance Sheets

(In thousands)


September 30, December 31,

2008 2007


Cash and investment securities $84,042 $92,621

Cash - restricted 281 281

Facilities and equipment, net 1,183 1,121

Licensed products, net 9,110 10,021

Other assets 1,679 1,096

Total assets $96,295 $105,140


Current liabilities $17,234 $9,474

Long term liabilities 19,094 6,561

Shareholders' equity 59,967 89,105

Total liabilities and shareholders'

equity $96,295 $105,140

This release contains forward-looking statements, including statements regarding the Company's financial condition and results of operations, business objectives and strategic goals, drug development plans, timing and results of clinical trials and the potential safety and efficacy of its products in development. The Company's actual results may differ materially from those indicated in these forward-looking statements based on a number of factors, including risks and uncertainties associated with the Company's research and develop

SOURCE Poniard Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
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