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YM BIOSCIENCES REPORTS SECOND QUARTER 2009 OPERATIONAL AND FINANCIAL RESULTS
Date:2/13/2009

e compared with other EGFR-targeting cancer drugs. - Two of YM's licensees for nimotuzumab, Daiichi-Sankyo Co., Ltd. in Japan and Kuhnil Pharmaceutical Co. in Korea, initiated an 80-patient Phase II randomized, open-label trial evaluating nimotuzumab in patients with advanced or recurrent gastric cancer. - YM's licensee in Europe, Oncoscience AG, continued to enroll patients in a randomized Phase III study evaluating nimotuzumab in adult glioma patients and a randomized Phase IIb/IIIa trial in patients with advanced pancreatic cancer. - YM and YM USA continued to enroll children with progressive, diffuse, intrinsic pontine glioma (DIPG) into a Phase II trial at multiple sites in the US, Canada and Israel and recruitment could be completed in late calendar 2009 or early 2010. - YM continued to prepare its second late-stage product, AeroLEF(R), for further development internationally, with a current focus on establishing the registration pathway for the product in Europe and conducting discussions with potential partners.

Financial Results (CDN dollars)

Total revenue (out-licensing revenue and interest income) for the second quarter of fiscal 2009, ended December 31, 2008 was $2.2 million compared with $1.9 million for the second quarter of fiscal 2008, ended December 31, 2007. Total revenue for the first six months of fiscal 2009, ended December 31, 2008 was $3.9 million compared with $3.7 million for the first six months of fiscal 2008, ended December 31, 2007. The increase in revenue is due to the receipt of a US$500 thousand milestone payment from one of the Company's licensees.

General and administrative expenses were $1.2 million for the second quarter of fiscal 2009 compared with $2.1 million for the second quarter of fiscal 2008. General and administrative expenses were $2
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SOURCE YM BioSciences Inc.
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