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Poniard Pharmaceuticals Announces Clinical Data from Picoplatin,Phase 2 Small Cell Lung Cancer Trial To Be Presented at American,Society of Clinical Oncology Annual Meeting

-- Data from Picoplatin Phase 1 Colorectal and Prostate Cancer Trials To Be Published in 2007 ASCO Proceedings --

SOUTH SAN FRANCISCO, Calif., May 23, 2007 /PRNewswire-FirstCall/ -- Poniard Pharmaceuticals, Inc. , a biopharmaceutical company focused on oncology, today announced that data from a Phase 2 trial of picoplatin, the Company's lead product candidate, in patients with small cell lung cancer (SCLC) will be presented in a poster session at the 43rd Annual Meeting of the American Society of Clinical Oncology (ASCO) at McCormick Place in Chicago. Details are as follows:

    -- Abstract #7722, Poster #EE3

       A Phase 2 study of picoplatin as second-line therapy for patients with

       small cell lung cancer who have resistant or refractory disease or have

       relapsed within 180 days of completing first-line, platinum-containing

       chemotherapy.

       Bentzion D, Lipatov O, Poliakov I, MacKintosh R, Eckardt J, Breitz H.

       General Poster Session: Sunday, June 3, 8:00 a.m. to 12 p.m. Central

       time S Hall A2

In addition, two picoplatin abstracts have been selected for publication in the 2007 ASCO Proceedings and will be available online through http://asco.org. These abstracts include safety data from an ongoing Phase 1/2 study of picoplatin for the potential front-line treatment of colorectal cancer and from an ongoing Phase 1/2 study of picoplatin and docetaxel (Taxotere(R)) in chemotherapy-naive patients with metastatic hormone-refractory prostate cancer. Details are as follows:

    -- Abstract #14510

       Phase 1 study of picoplatin in combination with 5-fluorouracil and

       leucovorin as initial therapy in subjects with metastatic colorectal

       cancer.

       Gladkov Jr O, Manikhas G, Biakhov M, Tjulandin S, Karlin D.


    -- Abstract #15546

       Phase 1 study of picoplatin and doc
etaxel with prednisone in patients

       with chemotherapy-naive metastatic hormone refractory prostate cancer

       Roman L, Karlov P, Kaprin A, Gladkov O, Breitz H.

About Picoplatin

Picoplatin, the Company's lead product candidate, is a new generation platinum therapy with an improved safety profile. It is designed to overcome and prevent platinum resistance associated with chemotherapy in solid tumors. Poniard is evaluating intravenous picoplatin in an ongoing Phase 2 clinical trial in SCLC and in Phase 1/2 clinical trials in colorectal and

hormone-refractory prostate cancers. On May 1, 2007, the Company announced treatment of the first patient in its pivotal Phase 3 SPEAR (Study of Picoplatin Efficacy After Relapse) trial of intravenous picoplatin in SCLC, which is being conducted under a Special Protocol Assessment (SPA) agreement with the FDA. Poniard received orphan drug designation from the U.S. Food and Drug Administration in November 2005 for picoplatin for the treatment of SCLC. Poniard also is evaluating an oral formulation of picoplatin in a Phase 1 clinical trial.

About Poniard Pharmaceuticals

Poniard Pharmaceuticals, Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of innovative oncology products to impact the lives of people with cancer. The Company's lead drug product candidate is picoplatin, which is currently being studied in clinical trials for the treatment of small cell lung, colorectal and hormone-refractory prostate cancers. As part of the Company's strategic goal of building a diverse oncology pipeline, the Company is collaborating with The Scripps Research Institute on the discovery of novel, small-molecule, multi-targeted protein kinase inhibitors. 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, and efficacy of its products in development. The Company's actual results may differ materially from those indicated in these forward-looking statements based on a number of factors, including risks and uncertainties associated with the Company's research and development activities; the results of pre-clinical and clinical testing; the receipt and timing of required regulatory approvals; the market's acceptance of its proposed product; the Company's anticipated operating losses, need for future capital and ability to obtain future funding; competition from third parties; the Company's ability to preserve and protect intellectual property rights; the Company's dependence on third-party manufacturers and suppliers; the Company's lack of sales and marketing experience; the Company's ability to attract and retain key personnel; changes in technology, government regulation and general market conditions; and the risks and uncertainties described in the Company's current and periodic reports filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2006, as amended, and its Form 10-Q for the period ended March 31, 2007. 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.

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

CONTACT: Julie Rathbun, Corporate Communications of PoniardPharmaceuticals, +1-206-286-2517, jrathbun@poniard.com

Web site: http://w ww.poniard.com/http://asco.org/

Ticker Symbol: (NASDAQ-NMS:PARD)

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