DALLAS, Jan. 25, 2010 (GLOBE NEWSWIRE) -- BeaconEquity.com announces an investment report featuring pharmaceuticals company Poniard Pharmaceuticals Inc. (Nasdaq:PARD). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision.
The full report is available at: http://www.beaconequity.com/i/PARD
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Poniard Pharmaceuticals Inc. (PARD) is a biopharmaceutical company focused on the development and commercialization of cancer therapy products. Its lead product candidate is picoplatin, a platinum-based cancer therapy.
Message Board Search for PARD: http://www.boardcentral.com/boards/PARD
In the report, the analyst notes:
"The Company reported a net loss of $9.9 million ($0.29 diluted loss per share on a loss applicable to common shares of $10.0 million) for the quarter ended September 30, 2009, compared with a net loss of $12.2 million ($0.36 diluted loss per share on a loss applicable to common shares of $12.4 million) for the quarter ended September 30, 2008.
"PARD in early January announced the sale of 3,489,728 of its common shares to Azimuth Opportunity Ltd. for net proceeds of approximately $6.5 million, or approximately $1.87 per share, under its existing committed equity financing facility with Azimuth. The Company intends to use the proceeds from this sale to focus on regulatory and partnering activities for picoplatin, clinical development, other general corporate purposes and working capital. Based on its cash reserves, including the net proceeds from this offering, Poniard believes it has sufficient cash resources to meet its anticipated net cash needs to mid-2010."
To read the entire report visit: http://www.beaconequity.com/i/PARD
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