Poniard Pharmaceuticals Board of Directors Urges Shareholders to Vote FOR Reverse Stock Split Proposal

The Board of Directors of Poniard Pharmaceuticals, Inc. PARD announced today that it has sent a general reminder urging all shareholders, including individual shareholders, to vote "FOR" management's proposal to provide the Board authority to effect a reverse stock split of the Company's common stock at a ratio between 1-for-15 and 1-for-25 (Proposal 3). To be approved, Proposal 3 requires that a majority of common shares be voted "FOR" the proposal. The reverse split proposal will be voted upon at the annual meeting of shareholders to be held on Thursday, June 9, 2011, and any adjournment or postponements thereof. All shareholders of record of Poniard common stock as of April 11, 2011 are entitled to vote at the annual meeting. Institutional Shareholder Services, Inc. and Glass Lewis & Co., two of the leading independent U.S. proxy advisory firms, have both recommended that Poniard shareholders vote "FOR" Proposal 3.