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Poniard Pharmaceuticals Secures $20 Million Committed Equity Financing Facility
Date:2/23/2010

SOUTH SAN FRANCISCO, Calif., Feb. 23 /PRNewswire-FirstCall/ -- Poniard Pharmaceuticals, Inc. (Nasdaq: PARD), a biopharmaceutical company focused on innovative oncology therapies, today announced that it has entered into a committed equity financing facility under which it may sell up to $20 million of its registered common stock to Commerce Court Small Cap Value Fund, Ltd. over an approximately 18-month period. Poniard is not obligated to utilize any of the facility and remains free to enter into other financing transactions.

Poniard will determine, at its sole discretion, the timing, dollar amount and floor price per share for any draw under this facility, subject to certain conditions. When and if Poniard elects to use the facility, the number and price of shares sold in each draw will be determined by a contractual formula, whereby Poniard will issue sha
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SOURCE Poniard Pharmaceuticals, Inc.
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