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Bionovo Announces 2009 Highlights and Year-End Financial Results
Date:3/15/2010

For the year ended December 31, 2009 total revenues were $0.3 million compared with $0.2 million for the same period in 2008. Revenues in 2009 consisted of a National Institute of Health (NIH) grant drawdown combined with approximately $55,000 in limited research services revenue, whereas revenues in 2008 included only the NIH grant.

For the year ended December 31, 2009 total operating expenses were $16.6 million compared with $17.5 million for the same period in 2008. The decrease in 2009 operating expenses are primarily due to decreases in clinical trial expenses partially offset by increases in expenses to support our Menerba manufacturing process development.

The net loss for the year ended December 31, 2009 was $16.4 million, or $0.20 per share, compared with a net loss of $16.7 million, or $0.22 per share, for the same period in 2008. The year-over-year decrease in net loss was driven primarily by the decreased activity related to our clinical trials.


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