rodneys
12年前
They invested more than 100 million and they have a few results:
Poniard Pharmaceuticals Announces Updated Positive Clinical Data from Phase 2 Trial of Picoplatin in Colorectal Cancer and New Phase 1 Cardiac Safety Trial Results
Poniard Pharmaceuticals, Inc. (PARD) has received Clinical Trial Application (CTA) approval from the Chinese State Food and Drug Administration (SFDA) to conduct two Phase III clinical studies of its lead product candidate, picoplatin, in the treatment of second-line small cell lung cancer (SCLC) and second-line ovarian cancer in the People's Republic of China.
VSTM paid Poniard an upfront license fee and agreed to pay Poniard milestone payments of up to an aggregate of $13,250,000 upon the achievement of specified development and regulatory milestones.
And yes it’s gambling you do !! I own 13.500 shares av. 1.09. and hope to sell them for at least 1.50.
BigWool
13年前
No merger... all the hustle and bustle for nothing, uh....?
Poniard Pharmaceuticals and Allozyne Terminate Planned Merger
SAN FRANCISCO, CA, Dec 22, 2011 (MARKETWIRE via COMTEX) --Poniard Pharmaceuticals, Inc. (NASDAQ: PARDD) today announced that Poniard and Allozyne, Inc. have mutually agreed to terminate the Agreement and Plan of Merger and Reorganization dated June 22, 2011. The termination follows the parties' determination that the common stock of the combined company resulting from the proposed merger will not qualify for listing on The Nasdaq Capital Market, which is a condition to closing of the merger. Poniard's board of directors is actively exploring alternatives for Poniard's business and assets.
About Poniard Pharmaceuticals
Poniard Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of innovative oncology products. For additional information please visit http://www.poniard.com.
For Further Information:
Media:
David Pitts
Argot Partners
(212) 600-1902
Email Contact
Pennyprof
13年前
That's right, the vote is on Nov. 21st. Looking through the last quarterly report, this isn't the first time this year they've voted to do a R/S. They didn't have enough votes last time...
I doubt it will happen again as the merger with Allozyne is depending on regaining compliance with Nasdaq regulations.
"The Company adjourned its reconvened annual meeting of shareholders on July 22, 2011, with an insufficient number of votes to approve the reverse stock split proposal. Although 91.6% of the shareholders who voted at the annual meeting voted in favor of the reverse stock split proposal, those shareholders held only 49.2% of the Company’s common stock outstanding and entitled to vote. A majority (50% plus one share) of the Company’s common stock outstanding and entitled to vote was required to approve the reverse stock split proposal. On July 19, 2011, the Company received a letter from the Staff advising that the Company has not regained compliance with the $1.00 per share minimum bid price requirement of Nasdaq Listing Rule 5550(a)(2) and, unless the Company requests an appeal of this determination, the Company’s common stock would be delisted from The Nasdaq Capital Market. On August 25, 2011, representatives of the Company attended a hearing to appeal the Staff decision and to present a plan for compliance. On September 2, 2011, the Nasdaq Hearings Panel determined to allow the continued listing of the Company’s common stock on The Nasdaq Capital Market subject to the conditions that, on or before December 31, 2011, the Company must have (i) held a shareholders’ meeting; (ii) obtained shareholder approval for the merger ."
hondaboost
13年前
PARD, 1 for 40 R/S news:
PR released on Nov 7:
SAN FRANCISCO, CA--(Marketwire -11/07/11)- Poniard Pharmaceuticals, Inc. (NASDAQ: PARD - News) announced today that Glass, Lewis & Co., a leading independent proxy advisory firm, has recommended that Poniard shareholders vote "FOR" all proposals listed in the Company's proxy statement materials, including the proposal related to the issuance of stock in connection with Poniard's proposed merger with ALLOZYNE, Inc. and the proposal to effect a 1-for-40 reverse stock split of Poniard's outstanding common stock.
The Poor Little Rich Boy
13年前
How long have you been following the story? There is so much more to it than just that. The 10000 shares is of a non-operating entity with intellectual property, They are planning a reverse merger with a much larger privately owned corporation of unkown value, and deep pockets. PARD shareholders will retain 35% of the new company. In order to stay listed on nasdaq market, the share price has to come back above a certain level, and a reverse split will bring the share price to that level. Cry dilution if you like, but that's not what is going on here. The Intellectual property of Poniard is valuable, they just didn't have the money burn that it requires to get their products through the regulatory process. Now they have a new partner, and the partner has the resources that is necessary to get things moving. Not only that, but the new partner desires to be publicly traded. 35% Is much greater than average. The new partner has an entire pipeline of product candidates of its own as well. Things are looking up for good old Poniard Pharmaceuticals.