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

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) ------------------------------------------------------------------------- December 31, June 30, 2010 2010 ------------------------------------------------------------------------- (Unaudited) Assets Current assets: Cash and cash equivalents $ 25,261,196 $ 19,460,141 Short-term deposits 53,451,681 26,184,991 Accounts receivable 203,163 161,184 Prepaid expenses 494,678 237,962 ----------------------------------------------------------------------- 79,410,718 46,044,278 Property and equipment 109,065 84,775 Intangible assets 9,391,706 11,645,714 ------------------------------------------------------------------------- $ 88,911,489 $ 57,774,767 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 1,411,962 $ 699,277 Accrued liabilities 3,524,184 2,085,824 Deferred revenue 594,072 1,523,916 ----------------------------------------------------------------------- 5,530,218 4,309,017 Deferred revenue 2,128,758 1,650,909 Shareholders' equity: Share capital 248,203,430 203,498,239 Share purchase warrants 1,378,324 1,473,246 Contributed surplus 14,916,826 14,088,671 Deficit (183,246,067) (167,245,315) ----------------------------------------------------------------------- 81,252,513 51,814,841 Basis of presentation Commitments -------------
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