Poniard Pharmaceuticals Announces Picoplatin Safety Data in Colorec... (

Poniard Pharmaceuticals Announces Picoplatin Safety Data in Colorectal Cancer

Date:1/27/2008

- Abstract Presented at ASCO Gastrointestinal Cancers Satellite Symposium -

- Positive safety data support ongoing Phase 2 trial -

SOUTH SAN FRANCISCO, Calif., Jan. 27 /PRNewswire-FirstCall/ -- Poniard Pharmaceuticals, Inc. (Nasdaq: PARD), a biopharmaceutical company focused on oncology, today announced that it has presented safety data from a Phase 1 dose-escalation study of picoplatin, the Company's lead product candidate, at the 2008 Gastrointestinal Cancers Symposium, a meeting of the American Society of Clinical Oncology (ASCO) which is being held in Orlando, Fla.

The poster presentation included safety data from a Phase 1 study of picoplatin in combination with 5-fluorouracil (5FU) and leucovorin (LV) as a first-line treatment for metastatic colorectal cancer (mCRC). The Phase 1 study seeks to establish the maximum tolerated dose of picoplatin and provide information on the safety of picoplatin when combined with 5FU and LV for the treatment of colorectal cancer. Promising safety data observed from the study to date formed the basis for further development of picoplatin in our ongoing Phase 2 trial in mCRC.

"These study results suggest that picoplatin does not cause severe neurotoxicity, as is commonly seen in mCRC patients treated with the regimen of 5FU and LV with oxaliplatin," said Jerry McMahon, Ph.D., chairman and CEO of Poniard Pharmaceuticals. "Picoplatin has demonstrated both good tolerability and no severe neuropathies when combined with 5FU and LV. We believe picoplatin has the potential to be a preferred platinum for the treatment of colorectal and other cancer indications."

Current National Comprehensive Cancer Network (NCCN) guidelines encourage the discontinuation of FOLFOX (5FU an
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