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Champions Biotechnology Reports Fiscal 2010 Third Quarter Financial Results
Date:3/17/2010

class="xn-money">$566,000 as compared to $435,000 in the comparable quarter of fiscal 2009, an increase of 30%.  This increase is primarily due to licensing fees and costs of $130,000 incurred in connection with licensing our third oncology drug candidate Bithionol.  

General and administrative expenses for the third quarter of 2010 were $596,000 as compared to $463,000 in the comparable quarter of 2009, an increase of 29%.  This increase is primarily due to the development of our corporate infrastructure to support our effort to grow our Preclinical eValuation services and includes increased salaries and  bonuses, legal, accounting, marketing, and office rent expenses.

For the third quarter ended January 31, 2010, the Company reported a net loss of $784,000 or $0.02 per share compared to a net loss of $563,000 or $0.02 per share for the corresponding quarter in 2009.

The Company's cash position on January 31, 2010 was $1,479,000 compared to $1,728,000 at '/>"/>

SOURCE Champions Biotechnology, Inc.
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