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Champions Biotechnology Reports Fiscal 2010 First Quarter Financial Results
Date:9/14/2009

BALTIMORE, Sept. 14 /PRNewswire-FirstCall/ -- Champions Biotechnology, Inc. (OTC Bulletin Board: CSBR), a company engaged in the development of advanced preclinical platforms and tumor specific data to enhance the value of oncology drugs, today announced its financial results for the first quarter ended July 31, 2009. Full details of the Company's financial results are available in the Company's Form 10-Q at www.championsbiotechnology.com.

Total revenues for the first quarter of 2010 were $962,000 as compared to $673,000 in the first quarter of 2009, an increase of 43%. This increase was derived from the Company's Personalized Oncology business, which generated revenues of $899,000 for the first quarter of 2010 compared to $616,000 in the comparable quarter of last year. This increase consisted of increases in Personalized Oncology Tumorgraft studies and vaccines, partially offset by a decrease in revenues from physician panels. Preclinical eValuation revenues for three months ended July 31, 2009, and 2008 were $63,000 and $57,000, respectively.

Costs of Personalized Oncology services for the first quarter of 2010 was $634,000 as compared to $226,000 in the first quarter of 2009, an increase of 181%. The cost of Personalized Oncology services increased due to an increase in the number of Tumorgraft studies, which have higher expenses (lower gross margins) than revenues derived from our physician panels. In addition, the Company recognized the costs of a vaccine development study which required additional up front expenses. Cost of Preclinical eValuation services for the three months ended July 31, 2009, and 2008 were $34,000 and $34,000, respectively.

Research and Development expenses for the first
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SOURCE Champions Biotechnology, Inc.
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