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:2/6/2016)... ... February 06, 2016 , ... Shark Finds ... the launch of a new DRTV campaign with Belly Bands. , Having a dog ... from sprays to puppy pads and find nothing works, get Belly Bands, the ...
(Date:2/5/2016)... Toronto, Ontario (PRWEB) , ... February 05, 2016 ... ... today announced the availability of the company's lighter, sleeker next generation LYNX VR ... assembly plant. , Improvements in design and manufacturing not only reduce the ...
(Date:2/5/2016)... ... 05, 2016 , ... The Muscular Dystrophy Association and Sailormen ... the 14th annual “Appetite for a Cure” campaign on Feb. 1 to raise ... related diseases that severely limit strength and mobility. , Now through March ...
(Date:2/5/2016)... ... 05, 2016 , ... After years as an active staff surgeon and having ... surgeon Dr. Wayne Carman transitioned to chief of the Division of Plastic Surgery at ... term as chief and began a second three-year term in January of 2016. , ...
(Date:2/5/2016)... ... February 05, 2016 , ... The American public tends to ... may be safer than regular municipal or well water. The recent experience with lead ... Kleyne, could go a long way toward increasing public acceptance of recycled waste water ...
Breaking Medicine News(10 mins):
(Date:2/4/2016)... 4, 2016 Frontier Pharma: Chronic Obstructive ... Innovation Chronic Obstructive Pulmonary Disease ... inflammation of the airways and lungs. Persistent breathing ... the disease one of the leading causes of ... the world. COPD is linked to cumulative exposure ...
(Date:2/4/2016)... Feb. 4, 2016  Aethlon Medical, Inc. (Nasdaq: ... biofiltration devices to treat life-threatening diseases, today announced ... ended December 31, 2015. --> ... set forth in our last quarterly call, we ... our long-term objective to establish the Aethlon Hemopurifier® ...
(Date:2/4/2016)...  Blueprint Medicines Corporation (NASDAQ: BPMC ), ... investigational kinase medicines for patients with genomically defined ... of directors of Lonnel Coats , a ... industry-related experience. Jeffrey Albers , ... strategic experience developing and commercializing numerous oncology products ...
Breaking Medicine Technology: