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Bionovo Reports First Quarter 2008 Financial Results
Date:5/9/2008

mon share 76,343,101 61,525,518 37,914,036

Bionovo, Inc.

(A Development Stage Company)

Condensed Balance Sheets

March 31, December 31,

2008 2007

(Unaudited) (Note 1)

ASSETS

Current assets:

Cash and cash equivalents $19,187,934 $ 28,472,485

Short-term investments 10,198,744 4,823,938

Receivables 19,942 285,899

Prepaid expenses and other current

assets 530,709 405,381

Total current assets 29,937,329 33,987,703

Property and equipment, net 4,040,105 3,900,248

Other assets and patent pending, net 733,445 277,220

Total assets $34,710,879 $38,165,171

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:

Accounts payable $ 206,799 $ 299,677

Accrued clinical and costs of other

studies 152,444 298,559

Accrued compensation and benefits 553,242 462,485

Current portion of lease obligation 928,252 706,710

Deferred revenue - -

Other current liabilities 540,922 949,200

Total current liabilities 2,381,659 2,716,631

Non-current portion of lease obligation 1,018,976 526,346

Non-current portion of deferred revenue
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SOURCE Bionovo, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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