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

d marketing efforts to support this strategy.  We will continue to offer related personalized oncology services to our customers; however, we expect future POS revenues to be driven by our core products.During the second half of fiscal 2012, we transitioned the laboratory activities that support the POS and TOS businesses from a third-party contract research organization ("CRO") to our facility in Baltimore, Maryland.  We believe that bringing these activities in-house will significantly reduce the future cost of providing our services and allow us to implement and maintain a more competitive pricing strategy.  To facilitate this strategy and support the increase in current and expected volume, we have invested in the infrastructure and increased our laboratory staff.

Furthermore, as part of our modified strategy, we plan to use TumorGrafting as a platform technology to drive multiple synergistic revenue streams.  We continue to build this platform with investments in research and development, as well as contributions from both the POS and TOS businesses.  The platform is then used to deliver products that serve both the POS and TOS customers in synergistic ways.  The result is well-differentiated products for patients, physicians, and drug development companies.  In addition, we are looking for additional opportunities to utilize the data we are gathering to develop proprietary biomarkers and signatures of response that can predict the resistance or sensitivity of individual tumors to oncology drugs.

Operating ResultsTOS revenues were $4.8 million and $3.5 million for the years ended April 30, 2012 and 2011, respectively, an increase of $1.3 million or 38%.  The increases in TOS revenues were due primarily to increased sales efforts and investments in growing our Tumorbank.

Cost of TOS was $2.5 million and $1.8 million for the years ended April 30, 2012 and 2011, respectively, an increase of $0.7 million,
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SOURCE Champions Oncology, Inc.
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