MISSISSAUGA, ON, Sept. 24 /PRNewswire-FirstCall/ - YM BioSciences Inc. (AMEX:YMI, TSX:YM, AIM:YMBA), an oncology company that identifies, develops and commercializes differentiated products for patients worldwide, today reported operational and financial results for the fourth quarter and the 2007 fiscal year, ended June 30, 2007.
"YM's business model, which unremittingly has been to diversify against the risk of clinical failure, has made it possible for us to mitigate in part just such an unfortunate event earlier this year with the disappointing results of the tesmilifene trial. With recruitment in nimotuzumab's first Phase III trial having been completed; the initiation of two additional late stage trials this current quarter; with substantial international financial and human resources supporting a broad and aggressive development program for nimotuzumab; with AeroLEF(TM) having successfully completed its first randomized trial and being prepared for its Phase III trials, we have seen the benefits of adhering to our corporate strategy. This strategy permits us to continue to take our late-stage products forward to surface their value," said David Allan, Chairman and CEO of YM BioSciences. "Importantly, we start the current fiscal year with more than US$65 million of cash available to support our development programs."
Nimotuzumab, a humanized monoclonal antibody that targets the epidermal
growth factor receptor (EGFR), is currently in varying stages of
development in a number of trials, including colorectal cancer, adult and
pediatric glioma, non-small-cell lung cancer and pancreatic cancer. YM
expects that the range of indications will continue to broaden in 2008 as
the group's coop
|SOURCE YM BioSciences Inc.|
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