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YM BioSciences Reports Fiscal First Quarter 2011 Operational and Financial Results
Date:11/11/2010

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Other highlights:

  • YM announced that Pulmokine Inc. (Slingerlands, New York), a licensee of several small molecule compounds from YM, has been awarded two National Institutes of Health (NIH) Small Business Innovation Research (SBIR) grants. The grants, totaling more than US$650,000, are Phase I awards to develop novel treatments for Pulmonary Arterial Hypertension (PAH).

  • Subsequent to quarter end, Dr. Nick Glover will be appointed as Chief Executive Officer of the Company to be effective at the Company's Annual General Meeting on November 18, 2010. Dr. Glover is also nominated to stand for election as a Director of the Company at that time. Mr. David Allan, who has been Chairman of the Company since its founding in 1994 and CEO since 1998, will continue to serve as Chairman of YM's Board of Directors.

  • Subsequent to quarter end, Dr. Mark Kowalski joined YM BioSciences as Chief Medical Officer and Vice President, Regulatory Affairs. Dr. Kowalski was formerly the Chief Medical Officer and Vice President, Regulatory Affairs at Viventia Biotechnology Inc., a biopharmaceutical company involved in the discovery and development of monoclonal antibody-based technologies for the treatment of cancer. Prior to joining Viventia, Dr. Kowalski was the Director, and then Senior Director of Medical Affairs at AAIPharma Inc. Dr. Kowalski holds a B.A. from Rutgers University, and a M.D. and Ph.D. from the University of Kansas School of Medicine. He completed his postgraduate training in Internal Medicine and Infectious Diseases at Duke University and Harvard Medical School.
  • Financial Results (CDN dollars) Total revenue for the first quarter of fiscal 2011, ended September 30, 2010, was $0.4 million compared to $0.7 million for the first quarter of fiscal 2010, ended September 30, 2009. Revenue from licensees was $0.3 million for first quarter of fiscal 2011 compared to $0.7 million for the f
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