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YM BIOSCIENCES REPORTS THIRD QUARTER 2009 OPERATIONAL AND FINANCIAL RESULTS
Date:5/14/2009

ubsidiary of the public company, Kalbe Farma. - Two of YM's licensees for nimotuzumab, Daiichi-Sankyo Co., Ltd. in Japan and Kuhnil Pharmaceutical Co. in Korea, are conducting a Phase II randomized, open-label trial evaluating nimotuzumab in patients with advanced or recurrent gastric cancer. - YM's licensee in Europe, Oncoscience AG, reported that it continues to enroll patients into a randomized Phase III study evaluating nimotuzumab in adult glioma patients and into 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 continues to prepare its second late-stage product, AeroLEF(R), for further development internationally. After consulting with regulatory bodies in Europe and Canada, the Company is now determining the optimal clinical path forward and conducting discussions with potential partners.

Financial Results (CDN dollars)

Total revenue (out-licensing revenue and interest income) for the third quarter of fiscal 2009, ended March 31, 2009 was $1.0 million compared with $1.8 million for the third quarter of fiscal 2008. Total revenue for the first nine months of fiscal 2009 was $4.8 million compared with $5.5 million for the first nine months of fiscal 2008. The majority of YM's out-licensing revenue comes from five out-licensing agreements with third party licensees for nimotuzumab. The decrease in revenue for the third quarter of fiscal 2009 compared to the same period in the prior year is mainly attributable to a 12 month extension of the revenue recognition period for the initial payment from one of YM's licensees. The decre
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SOURCE YM BioSciences Inc.
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