Poniard Pharmaceuticals and Allozyne Terminate Planned Merger
22 Dezember 2011 - 2:00PM
Marketwired
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
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