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YM BioSciences third quarter 2010 operational and financial results
Date:5/13/2010

ch (AACR) Annual Meeting held on April 17-21 in Washington, DC. - Presented posters on CYT387 and CYT997, the Company's novel vascular disrupting agent, at the Lorne Cancer Conference in Lorne, Victoria, Australia. - Published pivotal preclinical data for CYT387 as a First Edition in the premier hematology journal Blood. - Had granted two additional patents in the US for AeroLEF(R), our proprietary, inhaled-delivery composition of free and liposome- encapsulated fentanyl for the treatment of moderate to severe acute pain. - Reported positive results on the selective activity of a highly potent antibody-radionuclide with nimotuzumab in breast cancer cells resulting from a collaboration with researchers at the University of Toronto. - Appointed Rogerio C. Lilenbaum, M.D., M. Sc., Minesh Mehta, M.D., and Roman Perez-Soler, M.D., together with two additional leading US oncologists have to a US Consultative Committee to YM on the ongoing development YM's anti-cancer products. - Closed registered direct offering for gross proceeds of approximately US $17.5 million.

Subsequent to the quarter end, the Company initiated an "At-The-Market" financing facility for up to 7.5 million common shares.

"The substantial liquidity in our share trading permits us to access this innovative financing mechanism which will provide us with important flexibility in the timing of any future financing and, if implemented, should significantly reduce our overall cost of capital," said Mr. Allan. "This established mechanism has been used across multiple industries by numerous companies including several life-sciences companies and is designed to result in the issuance of shares at no discount to the quoted market at the time of a transaction. We are not required to sell any shar
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SOURCE YM BioSciences Inc.
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