May 15, 2009 (FinancialWire) — Poniard Pharmaceuticals, Inc. (NASDAQ: PARD) (Current Market Cap: US$114.47 Mil.) has filed a shelf registration statement with the Securities and Exchange Commission to allow the company to offer and sell up to $60 million of its common stock, common stock warrants or a combination of the two.

The company plans to use the proceeds from the sale of any securities to advance its picoplatin clinical program, pursue potential new product opportunities and for other general corporate purposes.

South San Francisco, California-based Poniard Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of oncology products.

Picoplatin, the company’s lead platform product candidate, is a new generation platinum chemotherapy. The company said that clinical studies suggest that picoplatin has an improved safety profile relative to existing platinum-based cancer therapies.

The drug is designed to overcome platinum resistance associated with chemotherapy in solid tumors, and is being studied in multiple cancer indications, combinations and formulations.

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