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Poniard reports positive results for lung cancer drug

Associated Press 04.23.08, 3:50 PM ET

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SOUTH SAN FRANCISCO, Calif. - Poniard Pharmaceuticals Inc. said Wednesday its lung cancer drug picoplatin continued to extend patient survival in mid-stage studies.

The company said the latest results confirmed older findings in patients with small cell lung cancer who did not respond to chemotherapy or whose cancer progressed despite other initial treatments.

Cancer patients taking picoplatin lived a median of 27 weeks, the company said, compared with 14 weeks of survival for patients undergoing standard care.

Poniard said it plans to continue testing its drug in late-stage trials with a launch goal of 2010.

Shares of Poniard Pharmaceuticals Inc. rose 17 cents, or 4.8 percent, Wednesday to $3.70.

Copyright 2008 Associ

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