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Poniard Pharmaceuticals Announces Management Changes and Focus on Development and Commercialization of Picoplatin
Date:11/25/2008

ll assume Ms. Loewy's responsibilities while the company conducts a search to fill the chief financial officer position.

"I would like to thank David and Caroline for their past contributions to the company and wish them well in their future endeavors," added Dr. McMahon. "Our business fundamentals remain strong and we are focused on execution and completion of our ongoing clinical trials to generate data next year to support product commercialization and to continued development of picoplatin in the treatment of lung, colorectal and prostate cancers."

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 therapy 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.

This release contains forward-looking statements, including statements regarding the Company's 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
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SOURCE Poniard Pharmaceuticals, Inc.
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