illion for the first quarter of fiscal 2007.
General and administrative expenses were $2.0 million for the first quarter
of fiscal 2008 compared with $1.9 million for the first quarter of fiscal
2007. Licensing and product development expenses decreased to $3.5 million
for the first quarter of fiscal 2008 compared to $7.9 million for the first
quarter of fiscal 2007. The change is mainly the result of reduced
development activity for tesmilifene, for which a Phase III trial was
terminated in January 2007, and reduced clinical development costs for
nimotuzumab and AeroLEF(TM), for both of which certain trials have finished
and others are just starting up.
Net loss for the first quarter of fiscal 2008 was $3.6 million ($0.06
per share) compared to $9.7 million ($0.17 per share) for the same period
As at September 30, 2007 the Company had cash and cash equivalents and
short-term deposits totaling $71.1 million and payables and accrued
liabilities totaling $2.2 million compared to $75.6 million and $3.3
million respectively at June 30, 2007.
As at September 30, 2007 the Company had 58,216,309 common shares
outstanding, of which 2,380,953 common shares are held in escrow for
contingent additional payment related to the acquisition of Delex
Therapeutics Inc., 5,799,765 warrants, and 6,155,662 options.
YM BioSciences' Annual Meeting of Shareholders will be held on November
28th, 2007 at 4:00 p.m. at the Gallery of the TSX Broadcast & Conference
Centre, The Exchange Tower, 130 King Street West, Toronto, Ontario.
About YM BioSciences
YM BioSciences Inc. is an oncology company that identifies, develops
and commercializes differentiated products for patients worldwide. The
Company has two late-stage products: nimotuzumab, a humanized monoclonal
antibody that targets the epidermal growth factor receptor (EGFR) and is
approved in several countries for treatment of various types of head and
neck cancer; and Aer
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