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

es at any time during the term of the offering, which extends until October 16, 2011; there are no stand-by fees for the arrangement and we are not prohibited from conducting other forms of financing should such be required for further expansion or for the conduct of our business."

Financial Results (CDN dollars)

Total revenue (out-licensing revenue and interest income) for the third quarter of fiscal 2010, ended March 31, 2010 was $709 thousand compared with $1.0 million for the third quarter of fiscal 2009. Total revenue for the first nine months of fiscal 2010 was $2.2 million compared with $4.8 million for the first nine months of fiscal 2009. The decrease in both periods was due mainly to the extension of the recognition periods for the initial payments for the Daiichi Pharmaceutical Co., Ltd. and Kuhnil Pharmaceuticals Co., Ltd. contracts by 12 months effective January 1, 2009 and no revenue in 2009 from the Innogene Kalbiotech Private Limited contract which was fully recognized at December 2008. Offsetting this decrease was the recognition of the remaining deferred revenue for the tesmilifene contracts, totaling $228 thousand. This revenue has been fully recognized in this period because we are no longer developing tesmilifene and these contracts are no longer active.

General and administrative expenses were $1.6 million for the third quarter of fiscal 2010 compared with $1.2 million for the third quarter of fiscal 2009. General and administrative expenses were $5.1 million for the first nine months of fiscal
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SOURCE YM BioSciences Inc.
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