Poniard investor sells 494,962 shares, keeps 21.9% ownership interest

By Lisa Kerner

Charlotte, N.C., Nov. 18 - Poniard Pharmaceuticals, Inc. investors led by MPM BioVentures III, LP sold 494,962 shares of the company's stock between Nov. 5 and Nov. 9.

The shares were sold under the terms of MPM BioVentures' Sept. 21 plan, adopted under rule 10b5-1 of the Securities Exchange Act of 1934, according to a schedule 13D/A filed on Wednesday with the Securities and Exchange Commission.

MPM BioVentures beneficially owns 8,028,643 shares, or 21.9%, of the South San Francisco, Calif., company's outstanding stock.

Poniard, together with its subsidiary, NeoRx Manufacturing Group, Inc., focuses on the development and commercialization of oncology products.

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