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Poniard Pharmaceuticals Reports Third Quarter 2010 Financial Results
Date:11/9/2010

$7.9 million, compared to $18.5 million for the same period in 2009.

General and administrative expenses were $5.1 million for the quarter ended September 30, 2010, compared to $4.1 million for the quarter ended September 30, 2009. Year to date, general and administrative expenses were $13.7 million compared to $10.9 million for the same period in 2009. The increase in both periods was primarily attributable to increased accounting and legal fees associated with our evaluation of potential strategic alternatives and to increased share-based compensation for the year to date period.

Cash and investment securities as of September 30, 2010, were $23.3 million, compared to $43.4 million at December 31, 2009. Management currently believes that the existing cash and investment securities will provide adequate resources to fund operations at least through the end of 2010.

Conference Call DetailsPoniard's management team will host a conference call and Webcast today at 4:30 p.m. Eastern Time/1:30 p.m. Pacific Time. To participate in the call by telephone, please dial 866-804-6921 (United States) or 857-350-1667 (International). The passcode for the conference call is 12705036. In addition, the call is being Webcast and can be accessed on the "Events" page of the "News & Events" section of the Company's Web site at http://www.poniard.com. A replay of the Webcast will be available on the Company's Web site for 10 days.

About Poniard PharmaceuticalsPoniard Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of innovative oncology products. For additional information please visit http://www.poniard.com.

Forward-Looking StatementsThis release contains forward-looking statements describing, among other things, the Company's projected financial position and future operations, the adequacy of its cash resources,
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SOURCE Poniard Pharmaceuticals, Inc.
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