| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Y > Headlines for YM BioSciences Inc. > News item |
YM Biosciences looks forward to fiscal 2007 with cash reserves, active pipeline
By Lisa Kerner
Charlotte, N.C., Sept. 22 - YM BioSciences, Inc. said Friday that it is moving into fiscal 2007 with "significant cash reserves" and an advanced product pipeline that could yield registration data for both of its lead cancer drugs within the next 12 to 15 months.
"The pivotal trial for tesmilifene, our lead clinical candidate, has been the subject of two interim analyses of safety and survival data which indicated the drug continues to be safe and the trial continues to have the prospect of meeting its survival endpoint," chairman and chief executive officer David Allan said in a company news release.
"A third interim analysis is anticipated in the coming months, a fourth possibly in the first-quarter 2007 and mature data during calendar 2007."
YM raised gross proceeds of $40.1million through a "registered direct" offering of common shares in February.
At June 30, the Mississauga, Ont., pharmaceutical company had 55.8 million common shares outstanding and 2.4 million common shares held in escrow related to the acquisition of Delex Therapeutics, Inc.
YM reported total revenue for the fiscal year C$2.5 million, up from C$1.5 million for the fiscal year ended June 30, 2005. Total revenue for the fourth quarter was up at $1.1 million from $0.3 million for the same quarter last year.
The company almost doubled its licensing and product development expenses for the fiscal year, reporting C$20.2 million compared to C$11.0 million for the 2005 fiscal year. The same expenses for the fourth quarter were also up at C$5.9 million, from $4.5 million for the fourth-quarter 2005.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.