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Bionovo Announces 2011 Highlights and Year-End Financial Results
Date:3/30/2012

EMERYVILLE, Calif., March 30, 2012 /PRNewswire/ -- Bionovo, Inc. (OTCQB: BNVI), a pharmaceutical company focused on the discovery and development of safe and effective treatments for women's health and cancer, today announced financial results for the year ended December 31, 2011.

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"In 2011 we initiated our Phase 3 trial for Menerba for the treatment of menopausal hot flashes and enrollment in that trial has progressed very well," said Isaac Cohen, O.M.D., Bionovo's Chairman and Chief Executive Officer. "Unfortunately, due to financial constraints, we have voluntarily suspended enrollment until we obtain additional financing.  If we are able to obtain adequate financing, we plan to evaluate the results of the 280 patients who have already enrolled in the trial.  We believe these results will provide additional evidence regarding the progress of Menerba towards approval for our shareholders and for potential partners."

The Company has experienced and continues to experience operating losses and negative cash flows from operations, as well as an ongoing requirement for substantial additional capital investment. Our cash balance as of March 29, 2012, was approximately $400,000.  We expect that we will need to raise substantial additional capital to continue our operations beyond April 15, 2012.  We are currently pursuing a variety of funding options, including equity offerings, partnering/co-investment, venture debt and commercial licensing agreements for our products. On February 8, 2012, we filed a registration statement on Form S-1 with the SEC (File No. 33-179429), as amended, to register the offering of an aggregate of up to $25 million in convertible preferred stock and warrants to purchase shares of common stock.  We expect that the terms and conditions of this potential offerin
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Related medicine technology :

1. Bionovo Announces Positive Developments in On-going Phase 1/2 Cancer Drug Trial
2. Bionovo Announces Publication of the Paper Detailing the Mechanism of Action of Its Cancer Drug BZL101
3. Bionovo Discovers New Estrogen Regulatory Elements for Breast Cancer and Osteoporosis Drugs
4. Bionovos Drug Candidate for Menopausal Symptoms Shows Effect on Neural Pathways Related to Temperature Regulation
5. Bionovo Elucidates Mechanism of Breast Cancer Control by Estrogen Receptor Beta
6. Bionovo Reports on Metabolic Studies Related to Its Menopausal Hot Flash Drug Candidate
7. Bionovos MF101 Shows Statistically Significant Improvement in Sleep Disturbance from Hot Flashes
8. Bionovos VG101 Shows Greater Efficacy Than Estrogen in the Treatment of Vaginal Dryness
9. Bionovo Advances BZL101 to Phase 2 Clinical Trials After Positive Phase 1 Results for Metastatic Breast Cancer
10. Bionovo Presents Positive Results from Phase 1B Trial of BZL101 for Metastatic Breast Cancer at the Society for Integrative Oncology
11. Bionovo Announces Development Plans for Menopausal Hot Flash Drug Candidate, Menerba (MF101), Following FDA Meetings
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