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YM BioSciences Reports Fiscal Second Quarter 2011 Operational and Financial Results
Date:2/10/2011

ted in the first half of calendar 2011. OSAG continues to recruit patients into a Phase IIb/III trial in pancreatic cancer patients. - YM's two randomized, Phase II, double-blind trials of nimotuzumab (for brain metastasis from non-small cell lung cancer and for palliative treatment of NSCLC) are lagging recruitment targets and consequently these programs are under review as the Company focuses support on the more advanced trials involving Daiichi Sankyo, which have the prospect of earlier registration trial initiation. YM's Phase II, second-line, single-arm study in children with progressive diffuse intrinsic pontine glioma (DIPG) has concluded recruitment at multiple sites in the US, Canada, and Israel and YM should report results in calendar Q1 2011.

CYT997:

- CYT997 is a small molecule therapeutic capable of being developed in IV and oral dose formulations with dual mechanisms of vascular disruption and cytotoxicity. Preliminary data from YM's current Phase I/II trial of CYT997 given IV in glioma patients are expected in calendar H2 2011.

Financial Results (CDN dollars)

Total revenue for the second quarter of fiscal 2011, ended December 31, 2010, was $0.3 million compared to $0.7 million for the second quarter of fiscal 2010, ended December 31, 2009. Total revenue for the first six months of fiscal 2011, ended December 31, 2010, was $0.7 million compared to $1.4 million for the first six months of fiscal 2010, ended December 31, 2010. Interest income for the first quarter of fiscal 2011 was $83 thousand compared with $13 thousand for the second quarter of fiscal 2010.

Licensing and product development expenses were $5.3 million for the second quarter of fiscal 2011 compared to $2.4 million for the second quarter of fiscal 2010. Licensing and product development expenses were $10.5 million for the first six months of fiscal 2011 compared to $4.8 million for the first six months of fiscal 2010. The increases were due mainl
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SOURCE YM BioSciences Inc.
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