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YM BioSciences reports second quarter 2010 operational and financial results
Date:2/8/2010

to the two new clinical trials for non-small cell lung cancer patients ineligible for curative treatment who are being treated palliatively (NSCLC) and patients with brain metastases from non-small cell lung cancer, as well as the ongoing pediatric glioma trial.

Costs associated with development activities for AeroLEF(R) decreased by $0.7 million for the three month period ended December 31, 2009 compared to the same period in the prior year. For the six month period ended December 31, 2009 costs decreased by $0.8 million compared to the same period in the prior year.

Net loss for the second quarter of fiscal 2010 was $3.4 million ($0.06 per share) compared to $3.2 million ($0.06 per share) for the same period last year. Net loss for the first six months of fiscal 2010 was $6.9 million ($0.12 per share) similar to the same period in the prior year.

As at December 31, 2009 the Company had cash and cash equivalents and short-term deposits totaling $35.9 million and payables and accrued liabilities totaling $1.5 million compared to $42.1 million and $0.9 million respectively at June 30, 2009.

As at December 31, 2009 the Company had 55,946,835 common shares outstanding, of which 2,380,953 common shares are held in escrow to be released contingent upon the completion of certain milestones.

About YM BioSciences

YM BioSciences Inc. is a life sciences product development company. Together with
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SOURCE YM BioSciences Inc.
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