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Champions Oncology Reports Financial Results for the Quarter Ended October 31, 2012
Date:12/13/2012

HACKENSACK, N.J., Dec. 13, 2012 /PRNewswire/ -- Champions Oncology, Inc. (OTC: CSBR), engaged in the development of advanced technology solutions and services to personalize the development and use of oncology drugs, announced today its financial results for the fiscal quarter ended October 31, 2012.

Joel Ackerman, Champions Oncology CEO, stated, "We continue to make progress in increasing the number of TumorGrafts initiated and the size of our Tumorbank.  We expect these to drive increased value of our technology platform over the long term."

Operating revenues were $1.5 million, as compared to $1.8 million for the three months ended October 31, 2011. For the six months ended October 31, 2012 and 2011, operating revenues were $3.6 million and $3.4 million, respectively.

Total operating expenses were $3.4 million, as compared to $4.3 million for the three months ended October 31, 2011. Operating expenses were $7.1 million, as compared to $8.0 million for the six months ended October 31, 2011.

Champions reported a net loss of $2.0 million, or ($0.04) per share, as compared to a net loss of $2.3 million, or ($0.05) per share, for the three months ended October 31, 2011. For the six months ended October 31, 2012, Champions reported a net loss of $3.3 million, or ($0.07) per share, as compared to a net loss of $4.4 million, or ($0.09) per share, for the 2011 period.

Excluding stock-based compensation of $0.6 million and $0.9 million for the three months ended October 31, 2012 and 2011, Champions recognized a net loss of $1.4 million, or ($0.03) per share and a net loss of $1.5 million, or ($0.03) per share for three months ended October 31, 2012 and 2011, respectively. For the six months ended October 31, 2012 and 2011, excluding stock-based compensation of $1.4 million and $1.9 million, Champions recognized a net loss of $1.9 million, or ($0.04) per share and a net loss of $2.5 million, or ($0.05) per share, respectivel
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SOURCE Champions Oncology, Inc.
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