Bionovo Announces First Quarter 2009 Highlights and Financi... (for the same period in 2008. The ...)

Bionovo Announces First Quarter 2009 Highlights and Financial Results

Date:5/7/2009

for the same period in 2008.

The Company ended the quarter with $9.1 million in cash, cash equivalents and short term investments, and began the quarter with $13.6 million, a difference of $4.5 million. The cash balance at the end of the quarter reflects the one-time cash expenses mentioned above.

Commenting on the quarter, Dr. Isaac Cohen, chairman and CEO of Bionovo, stated, "We have been diligently addressing the FDA's requests, and are hopeful that we can satisfy them swiftly. We have also been aggressively pursuing partnership opportunities, potential grants, and other forms of funding. We remain confident that we will be able to continue development of our exciting pipeline of drug candidates."

Conference Call

The Company will conduct a conference call and webcast to review the financial results and the Company's plans for 2009 later today, Thursday, May 7, 2009 at 4:30 p.m. ET.

Interested parties can access the call by dialing (877) 356-5706 or (706) 643-0580, or can listen via a live Internet webcast, which can be found at http://bionovo.com/investors/events. A replay of the call will be available via webcast at http://bionovo.com/investors/events for 30 days or by playback at (800) 642-1687 or (706) 645-9291, access code 94818134, through May 10, 2009.

About Bionovo, Inc.

Bionovo, Inc. is a pharmaceutical company focused on the discovery and development of safe and effective treatments for women's health and cancer, markets with significant unmet needs and billions in potential annual revenue. The company applies its expertise in the biology of menopause and ca
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SOURCE Bionovo, Inc.
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Bionovo Announces First Quarter 2009 Highlights and Financi...(for the same period in 2008. The ...),Health