NERX Neorx (MM)

SEATTLE, June 7 /PRNewswire-FirstCall/ -- NeoRx Corporation (NASDAQ:NERX), which is changing its name to Poniard Pharmaceuticals, Inc. effective June 16, 2006, today announced that Jerry McMahon, Ph.D., chairman, president and CEO, will present at the Pacific Growth Equities 2006 Life Sciences Growth Conference on Wednesday, June 14, at 8:30 a.m. at the InterContinental Mark Hopkins Hotel in San Francisco. Dr. McMahon will provide a corporate update, including a discussion of the clinical development program for the Company's lead product candidate, picoplatin, a new generation platinum therapy designed to provide a differentiated spectrum of activity and an improved safety profile. Currently, picoplatin is being studied in clinical trials for the treatment of small cell lung, colorectal and hormone-refractory prostate cancers. A live audio webcast can be accessed at the Company's website at http://www.poniard.com/ or http://www.neorx.com/ on the "Events and Webcasts" page of the "Investors" section. About NeoRx Corporation and Poniard Pharmaceuticals On June 16, 2006, NeoRx Corporation will change its corporate name to Poniard Pharmaceuticals, Inc. A global specialty pharmaceutical company, Poniard Pharmaceuticals will focus on the discovery, development and commercialization of innovative oncology products to impact the lives of people with cancer. Picoplatin, the Company's lead product candidate, is a new generation platinum therapy that provides a differentiated spectrum of activity and an improved safety profile. An intravenous chemotherapeutic agent, picoplatin is designed to overcome platinum resistance associated with the treatment of solid tumors. Picoplatin currently is being studied in clinical trials for the treatment of small cell lung, colorectal and hormone-refractory prostate cancers. As part of its strategic goal of building a diverse oncology pipeline, the Company is collaborating with the Scripps Florida Research Institute on the discovery of novel, small-molecule, multi-targeted protein kinase inhibitors. For additional information please visit http://www.poniard.com/ or http://www.neorx.com/. This release contains forward-looking statements, including statements regarding the Company's business model, discovery and development programs and clinical trial activities. The Company's actual results may differ materially from those indicated in these forward looking statements based on a number of factors, including anticipated operating losses, uncertainties associated with research, development, clinical trials and related regulatory approvals, future capital needs and uncertainty of additional financing, competition, uncertainties associated with intellectual property, dependence on third-party manufacturers, suppliers and collaborators, lack of sales and marketing experience, loss of key personnel, uncertainties associated with market acceptance, technology change and government regulation, and the other 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, 2005 and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2006. 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. DATASOURCE: NeoRx and Poniard Pharmaceuticals CONTACT: Julie Rathbun, Corporate Communications of Poniard Pharmaceuticals c/o NeoRx Corporation, +1-206-286-2517, or Web site: http://www.neorx.com/

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