Poniard Reports Positive Cancer Study Data

SOUTH SAN FRANCISCO, Calif. (AP) — Poniard Pharmaceuticals Inc. said Thursday its colon and prostate cancer drug candidate met key treatment and safety goals in midstage studies.

The South San Francisco-based company said updated study results for a Phase II study of picoplatin showed the drug had similar antitumor activity in colon cancer patients when compared with standard chemotherapy treatment. The picoplatin regimen, though, was significantly less toxic.

The study specifically focused on patients with colon cancer that had metastasized, or spread. It involves 101 patients who have not received prior treatment for colon cancer.

A separate midstage study showed picoplatin is active as a treatment for prostate cancer that has spread.

Shares of Poniard rose 4 cents to $4.52 in morning trading.