PARDP - Poniard Pharmeceuticals, $2.4375…

Poniard Pharmeceuticals, $2.4375 Convertible Exch Preferred Stock, Series 1 (PARDP)

OTOTC · · CUSIP 640520201

This security has been delisted at the request of the issuer and is no longer trading, but to our knowledge is still paying distributions to holders. It may start trading on the OTC market, but to our knowledge it has not done so to date.

The reference information below — security type, terms, ratings and company profile — is retained for research. Current pricing is not available.

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Security Details

Coupon Rate: 9.75%
Liquidation Preference: $25.00
Call Price: $25.00
Call / Redemption Date: —
Maturity Date: None
Distribution Period: S
Rate Type: Fixed
Annual Distribution: 2.44
Distribution Dates: 6/1 & 12/1
Credit Ratings: Moody's WR · S&P NF (4/16/2023)
Conversion: 1.14
Tax-Advantaged Dividends: Yes

Security Profile

Security's distribution is suspended.

Security Type: Traditional Convertible Preferred Stock »
CUSIP: 640520201
Market Cap: Micro Cap · $3 Million
Previous Symbol: NERXP (changed 6/16/2006)
Previous Name: NeoRx Corp., $2.4375 Convertible Exch Preferred Stock, Series 1
Parent Company: NeoRx Corp. (PARD)

Links: Home Page Investor Relations News

Business: Poniard Pharmeceuticals Inc., originally NeoRx Corp., $2.4375 Convertible Exchangeable Preferred Stock, Series 1, liquidation preference $25 per share, and redeemable any time at the company's option at $25 per share. Distributions are paid semiannually on 6/1 & 12/1. Series 1 preferred shares are convertible any time at the holder's option into 1.14 common shares. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders.

Notes: March 30, 2012 -- due to its current financial condition Poniard Pharmaceuticals, Inc. (the “Company”) terminated all of its employees. As part of that action it terminated without cause the employment of both Michael S. Perry, DVM, PhD, its President, Chief Operating Officer and Chief Medical Officer, and Michael K. Jackson, its Interim Chief Financial Officer and Chief Accounting Officer, effective March 31, 2012. Dr. Perry and Mr. Jackson will become consultants to the Company under consulting arrangements yet to be completed.

Company Contact

CEO: Gerald McMahon
CFO: Caroline M. Loewy
Headquarters: 7000 Shoreline Road, Suite 270, South San Francisco, CA 94080
Phone: 206-281-7001
Fax: 206-284-3181
Investor Relations: 206-281-7001 · info@poniard.com
SEC EDGAR Filings: View filings » (filings terminated)