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

------------------------------------------------------------ $ 88,911,489 $ 57,774,767 ------------------------------------------------------------------------- ------------------------------------------------------------------------- YM BIOSCIENCES INC. Interim Consolidated Statements of Operations and Comprehensive Loss and Deficit (Expressed in Canadian dollars, unless otherwise noted) ------------------------------------------------------------------------- Three months ended Six months ended December 31, December 31, 2010 2009 2010 2009 ------------------------------------------------------------------------- (Unaudited) (Unaudited) Out-licensing revenue $ 251,417 $ 687,222 $ 593,773 $ 1,411,910 Interest income 82,740 13,174 138,375 32,293 ------------------------------------------------------------------------- 334,157 700,396 732,148 1,444,203 Expenses: Licensing and product development 5,289,150 2,372,946 10,498,331 4,808,994 General and adminis- trative 3,099,952 1,699,330 5,517,058 3,483,762 ----------------------------------------------------------------------- 8,389,102 4,072,276 16,015,389 8,292,756 ------------------------------------------------------------------------- Loss before the undernoted (8,054,945) (3,371,880) (15,283,241) (6,848,553) Loss on foreign exchange (603,528) (7,130) (1,010,362) (33,877) Gain (loss) on short-term deposits 4,152 (6,888) 11,123 (9,106) Gain on disposal of property and equipment - - 10,744 - Other income 270,984 10,361 270,984 13,211 ------------------------------------------------------------------------- (328,392) (3,657) (717,511) (29,772) ------------------------------------------------------------------------- Loss and comprehensive loss for the period (8,383,337) (3,375,537) (16,000,752) (6,878,325) Deficit, beginning of period (174,862,730) (149,754,739) (167,245,315) (146,251,951) ------------------------------------------------------------------------- Deficit, end of period $(183,246,067) $(153,130,276) $(18
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