Exhibit 99.3  GRAPHIC  Poniard Pharmaceuticals Reports
Second Quarter 2010 Financial Results  - Conference Call Today at 4:30 p.m.
Eastern Time   -Principal Accounting Officer
Mike Jackson Named Interim CFO-  SOUTH SAN FRANCISCO, Calif.  August 9,
2010 Poniard Pharmaceuticals, Inc. (Nasdaq: PARD), a biopharmaceutical
company focused on innovative oncology therapies, today reported financial
results for the second quarter ended June 30, 2010.  The Company reported a net loss of
$6.5 million ($0.14 diluted loss per share on a loss applicable to common
shares of $6.6 million) for the quarter ended June 30, 2010.  As of June 30, 2010, cash and investment
securities totaled $29.3 million. 
Management currently believes that existing cash and investment
securities will provide adequate resources to fund the Companys operations at
least through the end of 2010.  Poniard has focused its resources
on optimizing the picoplatin value proposition and realizing this value for our
shareholders through a strategic transaction, said Ronald Martell, chief
executive officer of Poniard.  While we
engage in active and ongoing dialogue regarding potential strategic
alternatives, we are continuing to maintain picoplatins visibility within the
medical community, most recently through the presentation of the final data
from our Phase 3 SPEAR trial, which showed that picoplatin is an active
compound with the potential to address a key unmet medical need in second-line
small cell lung cancer.  The Company also announced today
that Michael K. Jackson, the Companys Principal Accounting Officer and
Controller, has been named Interim Chief Financial Officer, replacing Gregory L.
Weaver, who served as Chief Financial Officer of the Company and Senior Vice
President, Finance.  Mr. Weaver left
the Company on August 6, 2010, to pursue other opportunities. Mr. Jackson
joined Poniard as Controller in 2003 and has served as Senior Director, Finance
of the Company since 2008.  Mr. Jackson
is a certified public accountant and received his M.B.A in finance and B.S. in
mathematics from Brigham Young University. 
The Company also stated that it plans to relocate its corporate
headquarters to a smaller facility by September 15, 2010.


Mr. Martell commented, Gregs
departure and our plan to move our corporate headquarters to a smaller space
are part of Poniards efforts to focus its resources while maintaining key
capabilities and operational flexibility in the long-term and its goal of
enabling a strategic transaction.  Mike is
intimately familiar with the Companys operations and finances, and we are
pleased that he will provide continuity in the role of CFO.  Greg has been a valued member of the team
since joining Poniard in early 2009, and we wish him well in his future
endeavors.  Recent Clinical Developments  ·Presented Final Phase 3 SPEAR Data at ASCO
2010 Annual Meeting.In June, investigators presented final data
from Poniards Phase 3 trial of picoplatin in second-line small cell lung
cancer (the SPEAR trial).  The trial
evaluated treatment with picoplatin in combination with best supportive care (BSC)
as compared to BSC alone. Median overall survival in the intent-to-treat
population, the primary endpoint of the study, was 20.6 weeks in the picoplatin
arm compared to 19.7 weeks in the BSC alone arm.  The result did not achieve statistical
significance. A key factor potentially contributing to this outcome was a
statistically significant imbalance in the use of post-study chemotherapy in
favor of the BSC alone arm (p-value = 0.012). 
Although the primary endpoint was not met, there was a statistically
significant difference in favor of the picoplatin arm for progression-free
survival and time to progression in the intent-to-treat population, with
p-values of 0.0281 and 0.0002, respectively.  ·Further, in 273 patients who did not receive post-study
chemotherapy, there was a statistically significant difference in favor of the
picoplatin arm for overall survival (p-value = 0.0345). Picoplatin also
demonstrated a statistically significant survival benefit in 294 patients who
were refractory to or relapsed within 45 days of first-line platinum-based
therapy (p-value=0.0173). Picoplatin has the potential to address a key unmet
medical need, as there is currently no FDA-approved treatment for these
patients.  ·The abstract is featured as one of the Best of ASCO 2010
in San Francisco, Boston and other local settings around the world.  Second Quarter 2010 Unaudited Financial
Results The Company reported a net loss of
$6.5 million ($0.14 diluted loss per share on a loss applicable to common
shares of $6.6 million) for the quarter ended June 30, 2010, compared with
a net loss of $9.7 million ($0.28 diluted loss per share on a loss applicable
to common shares of $9.8 million) for the quarter ended June 30, 2009.  Total operating expenses for the
quarter ended June 30, 2010 were $6.0 million compared with $9.1 million
for the quarter ended June 30, 2009. Total operating expenses for the
second quarter of 2010 include share-based compensation expense of $0.5 million
related to the Companys April 2010 reduction in force.  Research and development expenses
were $2.1 million for the quarter ended June 30, 2010, compared with $5.3
million for the quarter ended June 30, 2009.


General and administrative expenses
were $3.9 million for the quarter ended June 30, 2010, compared with $3.8
million for the quarter ended June 30, 2009.  The increase was primarily attributable to an
increase in share-based compensation expense.  Cash and investment securities as of
June 30, 2010, were $29.3 million, compared to $43.4 million at December 31,
2009.  Conference Call Details Poniards management team will host
a conference call and Webcast today at 4:30 p.m. Eastern Time/1:30 p.m.
Pacific Time. To participate in the call by telephone, please dial 866-804-6924
(United States) or 857-350-1670 (International). The passcode for the
conference call is 97396633. In addition, the call is being Webcast and can be
accessed on the Events page of the News & Events section of
the Companys Web site at http://www.poniard.com. A replay of the Webcast will
be available on the Companys Web site for 10 days.  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.  Forward-Looking Statements This release contains
forward-looking statements describing, among other things, the Companys
projected financial position and future operations, the adequacy of its cash
resources, the Companys plan to focus its resources on the continued
development of picoplatin, the Companys assessment of the commercial and
therapeutic potential of picoplatin,  the
Companys plan to explore strategic alternatives to support the continued
development of picoplatin, and the Companys goal of optimizing and realizing
shareholder value from picoplatin. Actual results and events may differ
materially from those indicated in these forward-looking statements based on a
number of factors, including risks and uncertainties inherent in the Companys
business, including the Companys anticipated future operating losses, need for
future capital and ability to obtain future funding on favorable terms or at all;
the risk that strategic relationships may not be established on a timely basis,
on terms that are ultimately favorable to the Company, or at all; the potential
safety, efficacy and commercial viability of picoplatin; the risk that the
Companys additional analyses of data from clinical trials of picoplatin may
produce negative or inconclusive results, or may be inconsistent with
previously announced results or previously conducted trials; the Companys
ability to retain key personnel; competition from third parties; the Companys
ability to preserve and protect its intellectual property rights; the Companys
dependence on third-party manufacturers, suppliers and other contractors;
changes in technology, government regulation and general market conditions; the
receipt and timing of FDA and other required regulatory approvals, if at all;
and the risks and uncertainties described in the Companys current and periodic
reports filed with the Securities and Exchange Commission, including the
Companys Annual Report on Form 10-K for the year ended December 31,
2009 and its Quarterly Report on Form 10-Q for the quarter ended June 30,
2010. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this release.
The Company undertakes no obligation to update any forward-looking statement to
reflect new information, events or circumstances after the date of this release
or to reflect the occurrence of unanticipated events.


For Further Information:  Susan Neath (Investors &
Media) WCG 212-301-7182 sneath@wcgworld.com  # # #


Poniard
Pharmaceuticals, Inc. Condensed
Consolidated Statements of Operations (In thousands,
except per share data) (Unaudited)  Three Months Ended June 30,
  
  Six Months Ended June 30,2010
  
  2009
  
  2010
  
  2009Revenues
  
  $
  
  
  $
  Operating
  expenses:Research
  and development (Note 1)
  
  2,088
  
  5,311
  
  6,979
  
  13,489General
  and administrative (Note 1)
  
  3,888
  
  3,777
  
  8,687
  
  6,787Restructuring &
  asset impairment
  
  
  
  
  
  1,626
  
  1,056Total
  operating expenses
  
  5,976
  
  9,088
  
  17,292
  
  21,332Loss
  from operations
  
  (5,976
  )
  (9,088
  )
  (17,292
  )
  (21,332
  )Other
  income (expense), net
  
  (570
  )
  (632
  )
  (1,143
  )
  (1,338
  )Net
  loss
  
  (6,546
  )
  (9,720
  )
  (18,435
  )
  (22,670
  )Preferred
  stock dividends
  
  (48
  )
  (125
  )
  (640
  )
  (250
  )Loss
  applicable to common shares
  
  $
  (6,594
  )
  $
  (9,845
  )
  $
  (19,075
  )
  $
  (22,920
  )Loss
  per share:Basic
  and diluted
  
  $
  (0.14
  )
  $
  (0.28
  )
  $
  (0.42
  )
  $
  (0.66
  )Shares
  used in calculation of loss per share:Basic
  and diluted
  
  47,525
  
  34,712
  
  45,401
  
  34,700  Condensed
Consolidated Balance Sheets (In thousands)  June 30, 2010
  
  December 31, 2009(Unaudited)
  
  (Note 2)ASSETS:Cash
  and investment securities
  
  $
  29,269
  
  $
  43,389Cash
  - restricted
  
  158
  
  281Facilities
  and equipment, net
  
  98
  
  219Licensed
  products, net
  
  6,985
  
  7,592Other
  assets
  
  772
  
  961Total
  assets
  
  $
  37,282
  
  $
  52,442LIABILITIES
  AND SHAREHOLDERS EQUITY:Current
  liabilities
  
  $
  11,919
  
  $
  17,127Long
  term liabilities
  
  8,310
  
  11,671Shareholders
  equity
  
  17,053
  
  23,644Total
  liabilities and shareholders equity
  
  $
  37,282
  
  $
  52,442  Note 1:  Patent related legal expenses are included in
G&A expenses. The 2009 expenses have been reclassifed above to conform to
this presentation, Note 2:  Derived from audited financial statements
included in the Companys Annual Report on Form 10-K for the year ended
December 31, 2009.