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Bionovo Reports Third Quarter 2008 Financial Results
Date:11/3/2008

ionovo.com.

Forward Looking Statements

This release contains certain forward-looking statements relating to the business of Bionovo, Inc. that can be identified by the use of forward-looking terminology such as "believes," "expects," or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including uncertainties relating to product development, efficacy and safety, regulatory actions or delays, the ability to obtain or maintain patent or other proprietary intellectual property protection, market acceptance, physician acceptance, third party reimbursement, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission, which are available at http://www.sec.gov. Bionovo, Inc. is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

Bionovo, Inc

(A Development Stage Company)

Condensed Statements of Operations

(Unaudited)

Three months ended Nine months ended

September 30, September 30,

2008 2007 2008 2007

Revenues $- $243,375 $- $250,875

Operating expenses:

Research and

development 3,941,303 2,444,674 8,881,340 7,212,445

General and

administrative 1,222,319 1,129,402 4
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SOURCE Bionovo, Inc.
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