SOUTH SAN FRANCISCO, Calif. (Map) - SOUTH SAN FRANCISCO, Calif., May 15 /PRNewswire-FirstCall/ -- Poniard Pharmaceuticals, Inc. (Nasdaq: PARD), a biopharmaceutical company focused on oncology, today announced that the Company will present data from three clinical trials of picoplatin, in various tumor types and combinations, at poster sessions during the 44th Annual Meeting of the American Society of Clinical Oncology (ASCO) at McCormick Place in Chicago. The Company will present preliminary data from its ongoing Phase 2 clinical trial of picoplatin in colorectal cancer (CRC) and updated data from its Phase 1 CRC trial, data from its ongoing Phase 2 trial of picoplatin in hormone refractory prostate cancer (HRPC), as well as data from a Phase 1 trial of picoplatin in advanced solid tumors, including ovarian cancer.

Picoplatin, the Company's lead product candidate, is a new generation platinum chemotherapy agent with the potential to become a platform product addressing multiple indications, administered either alone or in combination with other chemotherapy and targeted agents.

"We are continuing to execute on our clinical strategy, demonstrating that picoplatin is a platform product, with broad utility in multiple solid tumor types," said Ronald Martell, president and chief operating officer of Poniard Pharmaceuticals. "The data from these trials that we will present at ASCO should illustrate the significant clinical value of picoplatin to patients with a broad range of tumor types, including those with colorectal, prostate and ovarian cancer. These results should be of significant interest to potential partners. The data being presented adds to the growing body of picoplatin data in over 750 patients, including in patients with small cell lung, colorectal, prostate and ovarian cancers."

    Poster presentation details are as follows:
    -- First-Line Treatment of Hormone Refractory Prostate Cancer: Abstract
        #5153
       A Phase 2 study of picoplatin with docetaxel and prednisone in
        chemotherapy-naive patients with metastatic hormone-refractory
        prostate cancer (HRPC)
       Roman L, Karlov P, Cheporov S, Lopatkin N, Breitz H, Karlin D, Baker G.
       General Poster Session: Saturday, May 31, from 8 a.m. to 12 p.m. CDT
       S Hall A1, Poster #16A
    -- First-line Treatment of Colorectal Cancer: Abstract #4100
       First-line Phase 1b and 2 studies of picoplatin in combination with
        5-fluorouracil and leucovorin, FOLPI, as a potential
        neuropathy-sparing therapy for colorectal cancer
       Cheporov S, Gladkov O, Biakhov M, Breitz H, Karlin D, Baker G.
       General Poster Session: Monday, June 2, from 8 a.m. to 12 p.m. CDT
       S Hall A1, Poster #14B

In addition, Don S. Dizon, M.D., assistant professor of obstetrics-gynecology and medicine at the Warren Alpert Medical School of Brown University, will present data from a Phase 1 trial of picoplatin in patients with ovarian cancer:

    -- Phase 1 Combination Study with Pegylated Liposomal Doxorubicin
        (including Ovarian Cancer): Abstract #2568,
       Final results of a Phase 1 study of picoplatin and pegylated liposomal
        doxorubicin in advanced solid tumor malignancies
       Dizon DS, Maluf F, Aghajanian CA, Daud A, Sabbatini P, Soignet S,
        Pezzulli S and Spriggs DR.
       General Poster Session: Sunday, June 1, from 2 p.m. to 6:00 p.m. CDT
       S Hall A1, Poster #12H

Poniard Investor Event

In addition to the picoplatin poster presentations, Poniard will host an investor event on Sunday, June 1, at 6:30 p.m. in Chicago. The event will feature presentations and discussion with expert oncologists, including lung cancer expert Chandra Belani, M.D., of the University of Pittsburgh Medical Center; prostate cancer expert E. David Crawford, M.D., of the University of Colorado Health Sciences Center in Denver; and platinum therapy developer, Lloyd Kelland, Ph.D., of Cancer Research Technology and University College London, in addition to members of Poniard's senior management. For more information or to rsvp to the event, please email rsvp@poniard.com.

About Picoplatin

Picoplatin, the Company's lead platform product candidate, is a new generation platinum therapy with an improved safety profile relative to existing platinum-based cancer therapies. Picoplatin is designed to overcome platinum resistance associated with chemotherapy in solid tumors, and is being studied in multiple cancer indications, combinations and formulations. Poniard is evaluating intravenous picoplatin in an ongoing pivotal Phase 3 trial, known as SPEAR (Study of Picoplatin Efficacy After Relapse), in small cell lung cancer. This registration trial currently is being conducted under a Special Protocol Assessment (SPA) from the U.S. Food and Drug Administration and is evaluating overall survival as the primary endpoint. The Company is also evaluating intravenous picoplatin in an ongoing Phase 2 clinical trial for the treatment of HRPC, and an ongoing Phase 2 clinical trial in patients with patients with metastatic CRC. Oral picoplatin is being evaluated in a Phase 1 clinical trial in solid tumors. The oral formulation of picoplatin has the same active pharmaceutical ingredient as the intravenous formulation. Picoplatin has not been approved by any regulatory authority for use in humans.

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.

This release contains forward-looking statements, including statements regarding the Company's business objectives and strategic goals, drug development plans, results of clinical trials and the potential safety 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 the Company's proposed products; 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 (SEC), including the Company's Annual Report on Form 10-K for the year ended December 31, 2007 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2008. 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) 2008 Poniard Pharmaceuticals, Inc. All Rights Reserved.

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