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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001179110-07-013390.txt : 20070618
<SEC-HEADER>0001179110-07-013390.hdr.sgml : 20070618
<ACCEPTANCE-DATETIME>20070618191826
ACCESSION NUMBER:		0001179110-07-013390
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070614
FILED AS OF DATE:		20070618
DATE AS OF CHANGE:		20070618

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			McMahon Gerald PhD
		CENTRAL INDEX KEY:			0001290747

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-16614
		FILM NUMBER:		07927012

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		206-281-7001

	MAIL ADDRESS:	
		STREET 1:		300 ELLIOTT AVENUE WEST
		STREET 2:		SUITE 500
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98119-4114

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PONIARD PHARMACEUTICALS, INC.
		CENTRAL INDEX KEY:			0000755806
		STANDARD INDUSTRIAL CLASSIFICATION:	IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES [2835]
		IRS NUMBER:				911261311
		STATE OF INCORPORATION:			WA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		300 ELLIOTT AVENUE WEST
		STREET 2:		SUITE 500
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98119-4114
		BUSINESS PHONE:		2062817001

	MAIL ADDRESS:	
		STREET 1:		300 ELLIOTT AVENUE WEST
		STREET 2:		SUITE 500
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98119-4114

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NEORX CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-06-14</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000755806</issuerCik>
        <issuerName>PONIARD PHARMACEUTICALS, INC.</issuerName>
        <issuerTradingSymbol>PARD</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001290747</rptOwnerCik>
            <rptOwnerName>McMahon Gerald PhD</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>7000 SHORELINE COURT</rptOwnerStreet1>
            <rptOwnerStreet2>STE. 270</rptOwnerStreet2>
            <rptOwnerCity>SO. SAN FRANCISCO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94080-1957</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Executive Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>3.66</value>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2007-06-14</value>
                <footnoteId id="F1"/>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>284400</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2016-09-13</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Poniard Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>284400</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>284400</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5.98</value>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2007-06-14</value>
                <footnoteId id="F3"/>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>157500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <value>2017-02-07</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Poniard Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>157500</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>157500</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>8.14</value>
                <footnoteId id="F5"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2007-06-14</value>
                <footnoteId id="F5"/>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>300000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F6"/>
            </exerciseDate>
            <expirationDate>
                <value>2017-05-31</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Poniard Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>300000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>300000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">This stock option was approved on September 13, 2006 by the Equity Awards Subcommittee of the  Compensation Committee of the Board of Directors, subject to shareholder approval of the amendment and restatement of the issuer's 2004 Incentive Compensation Plan, which the shareholders approved on June 14, 2007.  The exercise price is equal to the closing market price of issuer's common stock on September 13, 2006, as adjusted for the one-for-six reverse stock split effected on September 22, 2006.</footnote>
        <footnote id="F2">This stock option vests (A) as to 50% of the total amount, in equal monthly amounts over four years from 9/13/06 and (B) as to 40% of the total amount, seven years after 9/13/06.  10% of the total amount vested on February 7, 2007.</footnote>
        <footnote id="F3">This stock option was approved on February 7, 2007 by the Equity Awards Subcommittee of the  Compensation Committee of the Board of Directors, subject to shareholder approval of the amendment and restatement of the issuer's 2004 Incentive Compensation Plan, which the shareholders approved on June 14, 2007.  The exercise price is equal to the closing market price of issuer's common stock on February 7, 2007.</footnote>
        <footnote id="F4">This stock option vests in equal monthly amounts over four years from February 7, 2007 in accordance with the issuer's 2004 Incentive Compensation Plan.</footnote>
        <footnote id="F5">This stock option was approved on May 31, 2007 by the Equity Awards Subcommittee of the Compensation Committee of the Board of Directors, subject to shareholder approval of the amendment and restatement of the issuer's 2004 Incentive Compensation Plan, which the shareholders approved on June 14, 2007.  The exercise price is equal to the closing market price of issuer's common stock on May 31, 2007.</footnote>
        <footnote id="F6">This stock option vests (A) as to 50% of the total amount, in equal monthly amounts over four years from 5/31/07 and (B) as to 50% of the total amount, seven years after 5/31/07.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Gerald McMahon</signatureName>
        <signatureDate>2007-06-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----