FREMONT, Calif., April 27 /PRNewswire-FirstCall/ -- PDL BioPharma, Inc. (PDL) (Nasdaq: PDLI - News) today announced that it will release its financial results for the first quarter of 2007 following the close of the U.S. financial markets on Wednesday, May 2, 2007. PDL will hold a conference call at 4:30 p.m. Eastern time on May 2, 2007 to discuss the company's performance during the first quarter and provide an update on its strategy and 2007 objectives.