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Bionovo Reports Second Quarter 2008 Financial Results
Date:8/5/2008

3

Property and equipment, net 3,966,475 3,900,248

Other assets and patent pending, net 938,257 277,220

Total assets $30,686,423 $38,165,171

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:

Accounts payable $296,981 $299,677

Accrued clinical and costs of other studies 201,554 298,559

Accrued compensation and benefits 630,323 462,485

Current portion of lease obligation 874,851 706,710

Other current liabilities 358,970 949,200

Total current liabilities 2,362,679 2,716,631

Non-current portion of lease obligation 866,210 526,346

Commitments and contingencies

Shareholders' equity:

Preferred stock, $0.0001 par value;

10,000,000 shares authorized; none

issued and outstanding - -

Common stock, $0.0001 par value,

190,000,000 shares authorized; 76,363,101

and 76,343,101 shares issued and

outstanding as of June 30, 2008 and

December 31, 2007, respectively 7,636 7,634

Additional paid-in capital 58,388,703 57,660,045

Accumulated other comprehensive income (33,437) 4,480

Accumulated deficit (30,905,368) (22,749,965)

Total shareholders' equity 27,457,534 34,922,194

Total liabilities and shareholders' equity $30,686,423 $38,165,171

* The balance sheet at December 31, 2007 has been derived from the audited

financial statements at that date but does not include all of the

information and footnotes required by accounting pri
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SOURCE Bionovo, Inc.
Copyright©2008 PR Newswire.
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