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

,852,648 2,689,246

Merger cost - - - -

Total

operating

expenses 5,163,622 3,574,076 13,733,988 9,901,691

Loss from

operations (5,163,622) (3,330,701) (13,733,988) (9,650,816)

Change in fair

value of warrant

liability - - - -

Interest income 142,815 170,272 638,562 517,958

Interest expense (36,286) (42,370) (98,198) (68,898)

Other income

(expense) (1,322) (5,241) (16,938) (5,241)

Loss before

income tax (5,058,415) (3,208,040) (13,210,562) (9,206,997)

Income tax

provision - - (3,256) (2,400)

Net loss $(5,058,415) $(3,208,040) $(13,213,818) $(9,209,397)

Basic and

diluted net

loss per common

share $(0.07) $(0.05) (0.17) (0.15)

Shares used in

computing basic

and diluted net

loss per common

share 76,363,100 65,571,108 76,350,180 63,368,561

Accumulated from

February 1, 2002

(Date of Inception) to

September 30, 2008

Revenues $659,490

Operating expenses:

Research and development 24,673,545

General and administrative 12,304,415

Merger cost 1,964,065

Total operating expenses 38,942,025

Loss from operations (38,282,535)

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SOURCE Bionovo, Inc.
Copyright©2008 PR Newswire.
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