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Champions Oncology Reports Financial Results for the Year Ended April 30, 2012
Date:7/18/2012

HACKENSACK, N.J., July 18, 2012 /PRNewswire/ -- Champions Oncology, Inc. (OTC: CSBR), formerly Champions Biotechnology, Inc., engages 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 year ended April 30, 2012.

Joel Ackerman, the CEO of Champions Oncology, stated, "Fiscal 2012 was a year of great progress for the company.  We demonstrated our ability to drive significant volume growth in both sides of our business.  We continue to evolve our strategic direction to better align the strength of our technology platform with the needs of the market.  Within this new approach, we made significant progress in expanding our customer base and building a solid operational foundation for the future."

Operating revenues were $7.1 million and $6.9 million for the years ended April 30, 2012 and 2011, respectively.

Total operating expenses were $16.2 million and $12.1 million for the years ended April 30, 2012 and 2011, respectively.

Champions reported a net loss of $8.7 million, or ($0.19) per share and $3.8 million, or ($0.11) per share for the years ended April 30, 2012 and 2011, respectively.

Excluding stock based compensation of $3.3 million, Champions recognized a net loss of $5.3* million, or ($0.11*) per share, and excluding stock based compensation of $3.1 million, a net loss of $0.7* million, or ($0.02*), per share for the years ended April 30, 2012 and 2011, respectively.

During fiscal 2012, we modified our POS business strategy to focus on growing our core technology products, which includes TumorGraft implants and drug studies.  As part of this strategy, we significantly reduced the price of our core technology products to make the products affordable to a broader patient base and to accelerate the growth of our Tumorbank.  In addition, we have increased spending on sales an
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SOURCE Champions Oncology, Inc.
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