Date:8/10/2009

development 2,954 2,553 6,555 4,940 33,763 General and administrative 1,175 1,808 2,184 3,630 15,733 Merger cost - - - - 1,964 --- --- --- --- ----- Total operating expenses 4,129 4,361 8,739 8,570 51,460 ----- ----- ----- ----- ------ Loss from operations (4,122) (4,361) (8,732) (8,570) (50,561) Change in fair value of warrant liability - - - - 831 Interest income 16 190 70 496 2,061 Interest expense (22) (36) (55) (62) (421) Other expense (6) - (85) (19) (162) --- --- --- --- ---- Net loss $(4,134) $(4,207) $(8,802) $(8,155) $(48,252) ====== ===== ===== ===== ===== Basic and diluted net loss per common share $(0.05) $(0.06) $(0.12) $(0.11) $(1.09) ===== ===== ===== ===== ===== Shares used in computing basic and diluted net loss per share 76,363 76,344 76,363 76,344 44,393 ====== ====== ====== ====== ======

                                  Bionovo, Inc.
                          (A Development Stage Company)
                            Consolidated Balance Sheets
                         (in thousands, except share amounts)

                                                  June 30,     December 31,
                                                    2009           2008
                 
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SOURCE  Bionovo, Inc.
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