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Bionovo Announces Third Quarter 2010 Highlights and Financial Results
Date:11/11/2010

tal operating expenses for the third quarter included the purchase of manufacturing supplies and equipment, analytical instruments and raw materials and testing in support of the Menerba manufacturing process development.

The Company reported a net loss for the three months ended September 30, 2010 of $4.6 million, or $0.21 per share, compared with a net loss of $3.7 million, or $0.24 per share, for the same period in 2009.

The Company ended the quarter with $3.1 million in cash and cash equivalents, and began the quarter with $6.9 million.  On a pro forma basis, taking into account the net proceeds from the financing mentioned above, the cash balance would be $5.6 million.  

Conference CallThe Company will conduct a conference call and webcast to review the financial results and the Company's plans for 2010 later today, Thursday, November 11, at 5:00 p.m. (Eastern).

Interested parties can access the call by dialing (877) 317-6789 or (412) 317-6789, 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 or by playback at (877) 344-7529 or (412) 317-0088, conference code 445779, through November 16, 2010.

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 within their rich pipeline with the potentia
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SOURCE Bionovo, Inc.
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