Bionovo Announces Third Quarter 2009 Highlights and Financi...(period in 2008. The Company commenced...),Health

The Company commenced the quarter with $5.4 million in cash, cash equivalents and short-term investments. As of September 30, 2009, the Company had cash, cash equivalents and short-term investments of $2.3 million. In October 2009, the Company successfully completed a registered public offering of approximately 31 million shares of common stock together with approximately 29 million warrants, resulting in net proceeds to the Company of approximately $17.7 million. As of the close of the financing on October 7, 2009, the Company's cash and cash equivalents balance stood at $19.9 million.

Conference Call

The Company will conduct a conference call and webcast to review the financial results for the third quarter of fiscal year 2009 and the Company's plans for the remainder of the year at 4:45 p.m. ET on Thursday, November 5, 2009.

Interested parties can access the call by dialing (800) 860-2442 or (412) 858-4600, 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 (877) 344-7529 or (412) 317-0088, conference code 434779, through November 9, 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 cancer to design new drugs derived from botanical sources which have novel mechanisms of action. Based on the results of early and mid-stage clinical trials, Bionovo believes they have discovered new classes of drug candidates with
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