YM Biosciences underwriters exercise Over-Allotment Option in full

Dec 24 2010

YM BioSciences Inc. (NYSE Amex: YMI; TSX: YM) announced today that, in connection with its previously announced public offering for total net proceeds before expenses of US $37,650,000, the underwriters have exercised in full their Over-Allotment Option to purchase an additional 3,750,000 common shares of YM at US $1.60 per share for additional net proceeds of US $5,665,000.

The underwriters are Roth Capital Partners, LLC, which acted as the sole book-running manager for the offering, JMP Securities and Rodman & Renshaw LLC, which acted as co-managers, and Bloom Burton & Co., which acted as financial advisor to YM BioSciences in connection with the offering.

The Company intends to use the proceeds to fund its drug development activities and for general corporate purposes. The securities described above were offered and sold by the Company pursuant to a registration statement filed with the Securities and Exchange Commission (SEC), which became effective on December 1, 2010.