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

clinical trials; that JAK 1/2 and the VDA molecule will generate positive efficacy and safety data in future clinical trials; AeroLEF(R) will continue to generate positive efficacy and safety data in future clinical trials; that and 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.

    YM BIOSCIENCES INC.
    Interim Consolidated Balance Sheets
    (Expressed in Canadian dollars, unless otherwise indicated)

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                                                    March 31,        June 30,
                                                        2010            2009
    -------------------------------------------------------------------------
                                                  (Unaudited)
    Assets

    Current assets:
      Cash                                      $  27,862,417  $   2,337,716
      Short-term deposits                          20,149,367     39,713,042
      Accounts receivable                             390,714        564,584
      Prepaid expenses                                129,589        352,850
      -----------------------------------------------------------------------
                                                   48,532,087     42,968,192

    Property and equipment                             95,794         96,876

    Intangible assets                              14,982,168      3,004,868

    -------------------------------------------------------------------------
                                                $  63,610,049  $  46,069,936
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    ---------------------------
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SOURCE YM BioSciences Inc.
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