Navigation Links
Poniard Pharmaceuticals Announces Management Changes and Reduction in Force
Date:2/3/2010

SOUTH SAN FRANCISCO, Calif., Feb. 3 /PRNewswire-FirstCall/ -- Poniard Pharmaceuticals, Inc. (Nasdaq: PARD), a biopharmaceutical company focused on innovative oncology therapies, today announced that Ronald A. Martell has been appointed to the position of chief executive officer, succeeding Jerry McMahon, Ph.D., who will remain as non-executive chairman of the Board of Directors.  In addition, Michael S. Perry, DVM, Ph.D., has been named president and chief medical officer.  

The company also announced that it is implementing a plan to reduce its workforce and operating costs in order to focus its resources on the ongoing development of picoplatin in solid tumors.  The reduction in force will reduce the number of employees by approximately 57 percent, to a total of 21, effective February 5th.  Poniard remains fully staffed to provide clinical support activities for its ongoing studies and regulatory support for its planned meetings with the U.S. Food and Drug Administration (FDA) in the first half of 2010.  Poniard expects the reduction in force to result in approximately $4 million in reduced annualized operating expenses in 2010. The Company also expects to incur a charge in the first quarter of 2010 of approximately $1 million related to the workforce reduction.

"The reduction in force is a difficult but necessary step to preserve our resources as we pursue our goals of establishing a regulatory path forward for picoplatin and evaluating our strategic opportunities for this novel therapy.  I want to personally thank all of our employees for their hard work and wish those leaving the company all the best," said Ronald Martell.  "My near-term priority will be to obtain FDA guidance regarding picoplatin's potential regulatory and clinical pathways for continued development.  As part of that process, I look forward to benefiting from Dr. Perry's leadership and experience."

"Ronald's significant contributions and leadership continue to prove invaluable as the company works toward a path forward for picoplatin in small cell lung cancer and other solid tumors," said Rolland Dickson, M.D., lead director of Poniard Pharmaceuticals.  "We thank Jerry for his many years of leadership and guidance as an officer of Poniard and look forward to his continued contributions as chairman."

Mr. Martell has served as president and chief operating officer of Poniard since May 2007 and as a Director since June 2006.  Dr. McMahon has served as chief executive officer of Poniard since May 2004 and as chairman of the Board since June 2004.  In his capacity as chief medical officer, Dr. Perry replaces Robert De Jager, M.D., who will continue as a consultant to the Company.  Dr. Perry has recently served as a consultant to Poniard. He has also served in executive or Board roles at a number of biopharmaceutical companies, including Baxter BioScience and Novartis.  The Management changes will be effective on February 5th.

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. For additional information please visit http://www.poniard.com.

Forward-Looking Statement

This release contains forward-looking statements describing the Company's regulatory and partnering strategies with respect to its picoplatin product candidate and the expected cost savings and other benefits related to the reduction in force. Actual results and events may differ materially from those indicated in these forward-looking statements based on a number of factors, including risks and uncertainties inherent in the Company's business, including, but not limited to, the results and timing of the Company's discussions with the FDA; the potential safety, efficacy and commercial viability of picoplatin; the risk that the Company's additional analyses of data from clinical trials of picoplatin may produce negative or inconclusive results, or may be inconsistent with previously announced results or previously conducted trials; the Company's anticipated operating losses, need for future capital and ability to obtain future funding; the Company's ability to retain key personnel and enter into strategic partnerships on favorable terms, or at all; competition from third parties; the Company's ability to preserve and protect its intellectual property rights; the Company's dependence on third-party manufacturers, suppliers and other contractors; changes in technology, government regulation and general market conditions; the receipt and timing of any FDA and other required regulatory approvals, if any; 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, and its Quarterly Report on Form 10-Q for the period ended September 30, 2009. 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) 2010 Poniard Pharmaceuticals, Inc. All Rights Reserved.

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

SOURCE Poniard Pharmaceuticals, Inc.

RELATED LINKS
http://www.poniard.com

'/>"/>

SOURCE Poniard Pharmaceuticals, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Poniard Pharmaceuticals Announces Phase 2 Trial of Picoplatin in Metastatic Colorectal Cancer Meets Primary Endpoint and Study Objectives
2. Poniard Pharmaceuticals Announces Updated Positive Clinical Data from Phase 2 Trial of Picoplatin in Colorectal Cancer and New Phase 1 Cardiac Safety Trial Results
3. Poniard Pharmaceuticals Announces Positive Cardiac Safety Data From Picoplatin Phase 1 Trial Supporting NDA Filing
4. Poniard Pharmaceuticals Announces Progression-Free Survival Data From Phase 2 Clinical Trial of Picoplatin in Metastatic Colorectal Cancer
5. Poniard Pharmaceuticals Reports First Quarter 2009 Financial Results and Provides a Corporate Update
6. Poniard Pharmaceuticals to Present New Data from Phase 2 Clinical Trials of Picoplatin in Multiple Tumor Types at the 45th Annual Meeting of the American Society of Clinical Oncology
7. Poniard Completes Patient Enrollment Target in Phase 3 SPEAR Trial of Picoplatin in Small Cell Lung Cancer
8. Poniard Pharmaceuticals Reports Fourth Quarter and Year End 2008 Financial Results and Provides a Corporate Update
9. Poniard Pharmaceuticals Announces Management Changes and Focus on Development and Commercialization of Picoplatin
10. Poniard Pharmaceuticals Announces Final Top-Line Results from Phase 1 Trial Demonstrating Positive Bioavailability with Oral Picoplatin
11. Poniard Announces Positive Efficacy and Safety Data From Phase 1 Trial of Picoplatin in Multiple Tumor Types Including Ovarian Cancer
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/7/2017)... 7, 2017 Diplomat Pharmacy, Inc. (NYSE: ... as president, effective Aug. 7, 2017. ... to pursue other interests and will serve as president emeritus ... has served us in multiple leadership roles since he joined ... 2015 and has provided decisive, strategic leadership which continues to ...
(Date:8/3/2017)... -- Opioid addiction and other drugs of abuse, blood poisoning ... outcomes, were problems taken on directly as laboratory professionals, ... them, met this week. This according to Kalorama Information. ... abuse, procalcitonin and acute kidney injury were key focuses ... in San Diego, CA.  Mechanisms ...
(Date:8/1/2017)... CerSci Therapeutics , a non-opioid drug development firm based ... notice from the National Institute on Drug Abuse (NIDA) ... has been awarded a Direct-to-Phase II Small Business Innovation ... an additional $1,000,000 to follow in 2018. These funds ... lead non-opioid drug candidate CT-044 to the Food and ...
Breaking Medicine Technology:
(Date:8/16/2017)... ... August 16, 2017 , ... TopConsumerReviews.com recently gave a best-in-class 5 ... , The healthcare industry in the United States has undergone major changes over the ... needing to have a doctor’s order to get a blood test or other lab ...
(Date:8/16/2017)... ... August 16, 2017 , ... Women’s Excellence in ... pain. In addition to oncology services, the new center will specialize in ... heavy bleeding during menstruation), uterine fibroids, and uterine and pelvic adhesions (scar tissue). ...
(Date:8/16/2017)... ... August 16, 2017 , ... Rollon Skin ... anti-aging skincare solutions, recently announced the launch of two new skincare products, Prache ... effective alternative to expensive plastic surgery or in-patient cosmetic dermatological procedures. , “Prache ...
(Date:8/16/2017)... ... ... Chain”: an inspirational story for those shackled by the chains of a broken life. ... writer and a woman of great faith and wisdom. She is a great motivational ... born and raised in Vero Beach, Florida and has dedicated her life and ministry to ...
(Date:8/15/2017)... (PRWEB) , ... August 15, 2017 , ... ... of disease. It’s reaching out to a patient who feels isolated. It’s developing ... amid madness. , WesternU President Daniel R. Wilson, MD, PhD, invited three renowned ...
Breaking Medicine News(10 mins):