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Champions Biotechnology Reports Fiscal 2011 Third Quarter Financial Results
Date:3/7/2011

which include costs of POS and TOS, R&D and G&A were $7,742,000 compared to $5,369,000 for the comparable period last year, an increase of $2,373,000, or 44%.  Interest and other income for the nine months ended January 31, 2011 was $1,344,000.  The Company reported a net loss of $1,060,000, or ($0.03) per share, as compared to a net loss of $2,371,000, or ($0.07) per share, for the comparable period in fiscal 2010.

Joel Ackerman, the Company's Chief Executive Officer, commented, "The financial growth we achieved this quarter is a clear indication of the need for personalized oncology products for both physicians and medical technology companies.  The foundation that was built over the last three years, combined with the sales resources we are adding, is beginning to result in an increased momentum for our Company."

* Non-GAAP Financial InformationSee the attached Reconciliation of GAAP Net Loss to Non-GAAP Net Income (Loss) for an explanation of the amounts excluded to arrive at non-GAAP net income (loss) and related non-GAAP earnings (loss) per share amounts for the three months ended January 31, 2011 and 2010, respectively.  Non-GAAP financial measures provide investors and management with supplemental measures of operating performance and trends that facilitate comparisons between periods before and after certain items that would not otherwise be apparent on a GAAP basis.  Certain unusual or non-recurring items that management does not believe affect the Company's basic operations do not meet the GAAP definition of unusual or non-recurring items.  Non-GAAP net income (loss) and non-GAAP earnings (loss) per share are not, and should not be viewed as a substitute for similar GAAP items.  We define non-GAAP diluted earnings per share amounts as non-GAAP net income divided by the weighted average number of diluted shares outstanding.  Our definition of non-GAAP net income (loss) and non-GAAP diluted ea
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SOURCE Champions Biotechnology, Inc.
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