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Bionovo Announces 2010 Highlights and Year-End Financial Results
Date:3/15/2011

escribed in greater detail in our filings with the Securities and Exchange Commission, which are available at http://www.sec.gov. Bionovo, Inc. is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

Financial Tables on Following PagesBionovo, Inc.(A Development Stage Company)Consolidated Statements of Operations(Unaudited)Three months ended
December 31,Twelve months ended
December 31,Accumulated
from February 1,
2002 (Date of
inception) to
December 31,20102009201020092010(in thousands, except per share data)Revenues

$
531$
26$
3$
288$
,793Operating expenses:Research and development

3,8353,00614,64212,49954,348General and administrative

8999433,5264,05321,129Merger cost

----1,964Total operating expenses

4,7343,94918,16816,55277,441Loss from operations

(4,203)(3,823)(17,555)(16,264)(75,648)Other income (expense):Change in fair value of warrant liability

(94)-(94)-737Interest income

2918842,092Interest expense

(28)(18)(61)(95)(521)Other expense

(1)(5)(39)(88)(191)Total other income (expense)

(121)(14)(176)(99)2,117Loss before income tax

(4,324)(3,837)(17,731)(16,363)(73,531)Income tax provision

-1(1)(1)(15)Net loss

$ (4,324)$ (3,836)$(17,732)$(16,364)$
(73,546)Basic and diluted net loss per common share

$   (0.18)$   (0.18)$
(0.80)$
(0.98)$
(6.74)Shares used in computing basic and diluted
net loss per share

24,35221,10122,29916,72510,908Bionovo, Inc.(A Development Stage Company)Consolidated Balance SheetsDecember 31,20102009(unaudited)(Note *)(in thousands, except share amounts)ASSETSCurrent assets:Cash and cash equivalents

$
2,638$  2,799Short-term i
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SOURCE Bionovo, Inc.
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