Poniard Pharmaceuticals, Inc. (Nasdaq: PARD), a biopharmaceutical company focused on innovative oncology therapies, announced results from a Phase 1 cardiac safety study of picoplatin, a new generation platinum-based chemotherapy agent and the Company’s lead product candidate. The Company worked collaboratively with the U.S. Food and Drug Administration (FDA) to design this study, which is required for new chemical entities.

This study evaluated the cardiac safety of picoplatin by determining its effect on the cardiac QT/QTc interval by using time-matched pharmacokinetics and electrocardiograms (ECGs). A total of 45 patients with advanced solid malignancies received 150 mg/m2 picoplatin. The trial was conducted at seven clinical sites in the United States. Results showed no clinical cardiac-related events. In addition, no evidence of a clinically relevant trend in any ECG parameter was demonstrated.

“With these new picoplatin safety data, we continue to make progress toward our goal of initiating the filing in 2009 of a New Drug Application for picoplatin as a second-line treatment for small cell lung cancer, with approval and commercialization targeted for 2010,” said Robert De Jager, M.D., chief medical officer of Poniard. “More than 1,100 cancer patients have received picoplatin in clinical studies to date. Additional safety and anticipated efficacy data from our ongoing Phase 3 SPEAR study will provide a strong database to support the NDA filing.”

The Company plans to present data from the Phase 1 cardiac safety trial at a medical conference later this year.

About Picoplatin

Picoplatin is a new generation platinum-based chemotherapy agent that is in clinical development for multiple cancer indications, treatment combinations and by two routes of administration. It is designed to overcome platinum resistance associated with chemotherapy in solid tumors. Study data to date suggest that picoplatin has an improved safety profile relative to existing platinum-based cancer therapies. Results to date suggest that hematologic events are common but manageable. Kidney toxicity (nephrotoxicity) and nerve toxicity (neurotoxicity) are less frequent and less severe than is commonly observed with other platinum chemotherapy drugs.

Poniard is currently evaluating the efficacy and safety of picoplatin in small cell lung cancer in a pivotal Phase 3 SPEAR (Study of Picoplatin Efficacy After Relapse) trial that is being conducted under a Special Protocol Assessment with the FDA. The Company reached its enrollment target in this international, multi-center, randomized, controlled trial in March 2009. Poniard is also evaluating picoplatin in a Phase 2 clinical trial in patients with colorectal cancer and in a Phase 2 clinical trial in patients with castration-resistant prostate cancer. Oral picoplatin has been evaluated in a Phase 1 clinical trial in solid tumors.

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.

(C) 2009 Poniard Pharmaceuticals, Inc. All Rights Reserved.

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

This release contains forward-looking statements, including statements regarding the Company’s business objectives and strategic goals, drug development plans, and the potential safety and efficacy of its products in development, and commercialization. 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 clinical testing; the receipt and timing of FDA and other 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, 2008 and its Quarterly Report on Form 10-Q for the period ended March 31, 2009. 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.

Source: Poniard Pharmaceuticals, Inc

MAP Pharmaceuticals, Inc. (Nasdaq: MAPP) announced that it has received a notice of termination of the license agreement with AstraZeneca related to the company’s Unit Dose Budesonide (UDB) product candidate. The termination was received on July 8, 2009, effective immediately. All rights licensed to AstraZeneca in the agreement now revert to the company. MAP Pharmaceuticals plans to suspend development of UDB, which did not meet primary endpoints in a Phase 3 trial in children 12-months to eight years of age with mild asthma.

“Physicians and parents continue to express a need for improved therapies for pediatric asthma that offer faster nebulization times, lower doses of steroid exposure, improved treatment compliance and reduced side effects when compared to currently available therapies. MAP Pharmaceuticals is considering options for its pediatric asthma program moving forward, including the development of a next generation therapy with budesonide,” said Timothy S. Nelson, president and chief executive officer of MAP Pharmaceuticals. “Separately, MAP Pharmaceuticals remains focused on developing our LEVADEX(TM) migraine therapy, which recently achieved all four primary endpoints in a Phase 3 clinical trial, with the goal of bringing this differentiated treatment to the many patients who suffer from the debilitating effects of migraine.”

MAP Pharmaceuticals will provide updated financial guidance for 2009 in its second quarter results release. MAP Pharmaceuticals finished the first quarter of 2009 with cash and cash equivalents of $67.7 million and $4.7 million in accounts receivables.

About MAP Pharmaceuticals

MAP Pharmaceuticals is dedicated to developing and commercializing new therapies for patients suffering from conditions that are not adequately treated by currently available medicines. LEVADEX inhaled therapy is being developed for the potential treatment of migraine and has completed a successful Phase 3 trial. In addition, MAP Pharmaceuticals generates new pipeline opportunities by applying its proprietary drug particle and inhalation technologies to enhance the therapeutic benefits of proven drugs, while minimizing risk by capitalizing on their known safety, efficacy and commercialization history.

LEVADEX and Tempo are trademarks of MAP Pharmaceuticals, Inc.

Forward-Looking Statements

In addition to statements of historical facts or statements of current conditions, this press release contains forward-looking statements, including with respect to the company’s development programs, including MAP Pharmaceuticals’ LEVADEX product candidate. Actual results may differ materially from current expectations based on risks and uncertainties affecting the company’s business, including, without limitation, risks and uncertainties relating to the development of drug candidates, the conduct and completion of clinical trials, risks related to the failure to achieve favorable clinical outcomes or to have the company’s LEVADEX product candidate approved for commercial use. The reader is cautioned not to unduly rely on the forward-looking statements contained in this press release. MAP Pharmaceuticals expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.

Source: MAP Pharmaceuticals, Inc