Navigation Links
Poniard Pharmaceuticals to Focus Company Resources on Late-Stage Oncology Candidate Picoplatin Through Realignment of Research Organization
Date:3/20/2009

SOUTH SAN FRANCISCO, Calif., March 20 /PRNewswire-FirstCall/ -- Poniard Pharmaceuticals, Inc. (Nasdaq: PARD), a biopharmaceutical company focused on oncology, today announced that it will concentrate its cash resources on the clinical and commercial development of its late-stage oncology candidate, picoplatin. As a result, the Company has discontinued its in-house preclinical research operations and reduced its workforce by approximately 12 percent, or eight employees, effective March 31, 2009. The Company continues to evaluate strategic alternatives for its preclinical research programs.

"Concentrating our resources on advancing our lead product candidate, picoplatin, currently in Phase 2 and 3 clinical trials for the treatment of lung, colorectal and prostate cancers, supports our goal of commercializing picoplatin in 2010, initially for the treatment of small cell lung cancer," said Jerry McMahon, Ph.D., chairman and CEO of Poniard. "We believe these measures will bring us closer to near-term success and build shareholder value. I would like to thank the Poniard employees who have been affected by this change for their significant contributions to the Company."

About Poniard Pharmaceuticals

Poniard Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of innovative oncology products to impact the lives of people with cancer. Picoplatin, the Company's lead platform product candidate, is a new generation platinum chemotherapy. To date, clinical studies suggest that picoplatin has 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 castration-resistant (hormone refractory) prostate cancers. The Company also is conducting a clinical trial of oral picoplatin in solid tumors. For additional information please visit http://www.poniard.com.

This release contains forward-looking statements, including statements regarding the Company's results of clinical trials to date, business objectives and strategic goals, drug development plans, the potential safety and efficacy of its products in development and commercialization strategy. 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 development activities; the results of clinical testing; the receipt and timing of FDA and other required regulatory approvals; the market's acceptance of the Company's proposed products; the Company's anticipated operating losses, need for future capital and ability to obtain future funding; competition from third parties; the Company's ability to preserve and protect intellectual property rights; the Company's dependence on third-party manufacturers and suppliers; the Company's lack of sales and marketing experience; the Company's ability to attract and retain key personnel; changes in technology, government regulation and general market conditions; and the risks and uncertainties described in the Company's current and periodic reports filed with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K for the year ended December 31, 2008. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update any forward-looking statement to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.

(C) 2009 Poniard Pharmaceuticals, Inc. All Rights Reserved.

Poniard and Poniard Pharmaceuticals are trademarks of Poniard Pharmaceuticals, Inc.


'/>"/>
SOURCE Poniard Pharmaceuticals, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Poniard Pharmaceuticals to Present at Needham & Companys Cancer Therapeutics: Today & Tomorrow Conference
2. Poniard Pharmaceuticals Receives Going Concern Qualification
3. Poniard Pharmaceuticals Announces Appointment of Greg Weaver as Chief Financial Officer
4. Poniard Pharmaceuticals Provides 2009 Clinical Data Goals for Picoplatin
5. Poniard Pharmaceuticals Reports Third Quarter 2008 Financial Results and Corporate Update
6. Poniard Pharmaceuticals Reports Second Quarter 2008 Financial Results and Corporate Update
7. Poniard Pharmaceuticals Announces Upcoming Conference Participation
8. Triax Pharmaceuticals, Providers of the No. 1 Prescribed Mid-Potency Corticosteroid Brand, Introduce a New Size of Locoid Lotion 0.1%
9. Triax Pharmaceuticals, Providers of the No. 1 Prescribed Mid-Potentcy Corticosteroid Brand, Introduce a New Size of Locoid Lotion 0.1%
10. Endo Pharmaceuticals Announces Successful Completion of Tender Offer for Indevus Pharmaceuticals
11. Valeant Pharmaceuticals Appoints President of Valeant Pharmaceuticals International
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2017)... ... June 23, 2017 , ... Dr. Ran Y. ... has recently begun offering three new minimally invasive procedures to patients who want ... reducing downtime, Dr. Rubinstein is excited to bring microneedling, microneedling facials, and platelet ...
(Date:6/23/2017)... Washington, D.C. (PRWEB) , ... June 23, 2017 ... ... temperature during cooking is essential, and two new videos highlight the importance of ... Extension Specialist Christine Bruhn, Ph.D., who has done extensive research on consumer food ...
(Date:6/23/2017)... ... June 23, 2017 , ... Ross Insurance Agency ... the Federal Emergency Management Agency’s (FEMA) recent update of flood zones, more people ... the Biggert-Waters Act was enacted to reflect the actual risk in flood zone ...
(Date:6/23/2017)... Gilmer, TX (PRWEB) , ... June 23, 2017 , ... ... consultations to residential and business clients throughout eastern Texas, is announcing the launch of ... , Recent breast cancer statistics in the United States reveal that an estimated ...
(Date:6/22/2017)... IN (PRWEB) , ... June 22, 2017 , ... ... benefits advisory organization, is pleased to welcome Whipple & Company as its newest ... the clear purpose of balancing their clients’ risk while tailoring optimized benefit packages ...
Breaking Medicine News(10 mins):
(Date:5/30/2017)... DarioHealth Corp. (NASDAQ: DRIO), a leading global digital health ... it will be presenting at the 7th annual LD Micro Invitational ... Raphael , CEO, of DarioHealth will be giving the presentation and ... June 6th & 7th, 2017 at the Luxe Sunset Bel Air ... space. About LD Micro LD ...
(Date:5/30/2017)... 2017 Therapix Biosciences Ltd. (Nasdaq: TRPX), ... the development of cannabinoid-based drugs, today announced that ... at three upcoming scientific and investor conferences in ... Invitational: ...                     Wednesday, June ...
(Date:5/26/2017)... -- Endo International plc (NASDAQ: ENDP ) announced today ... the Company in a fireside chat at Goldman Sachs, 38 ... 2017 at 10:40 a.m. PT / 1:40 p.m. ET. The ... Rancho Palos Verdes, CA. A live ... on the Company,s website at http://www.endo.com/investors/overview . Participants should ...
Breaking Medicine Technology: