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YM BioSciences Reports Fiscal First Quarter 2011 Operational and Financial Results

ew product development, uncertainties related to the regulatory approval process and other risks detailed from time to time in the Company's ongoing quarterly and annual reporting. Certain of the assumptions made in preparing forward-looking statements include but are not limited to the following: that nimotuzumab will continue to demonstrate a competitive safety profile in ongoing and future clinical trials; that our JAK1/JAK2 inhibitor CYT387 and our VDA small molecule CYT997 will generate positive efficacy and safety data in future clinical trials; that YM and its various partners will complete their respective clinical trials within the timelines communicated in this release. Except as required by applicable securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Summary financial statements attached:YM BIOSCIENCES INC.
Interim Consolidated Balance Sheets
(Expressed in Canadian dollars, unless otherwise noted) September 30,  June 30, 2010 2010 (Unaudited)   Assets Current assets:   Cash and cash equivalents
$  15,095,919 $
9,460,141   Short-term deposits
26,184,991   Accounts receivable
,184   Prepaid expenses
237,962 40,459,512
46,044,278 Property and equipment
84,775 Intangible asset
,645,714 $
51,107,077 $
57,774,767 Liabilities and Shareholders' Equity Current liabilities:   Accounts payable
$ 693,188 $
99,277   Accrued liabilities
2,085,824   Deferred revenue
,523,916 4,016,915
4,309,017 Deferred revenue
,650,909 Shareholders' equity:   Share capital
SOURCE YM BioSciences Inc.
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