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

t expense was $2.9 million for the years ended April 30, 2012 and 2011.  Our research and development efforts are focused on growing our Tumorbank, increasing our understanding of our TumorGraft models, their clinical predictability, improving growth and tumor take rates, and other biological and molecular characteristics of the models.  In fiscal 2012, we increased these efforts, but this was offset by decreased expenses incurred on testing in-licensed compounds.

Sales and marketing expense was $2.9 million and $1.1 million for the years ended April 30, 2012 and 2011, respectively, an increase of $1.8 million, or 170%.  The increase for fiscal 2012 is primarily related to employee costs associated with increases in our sales force and marketing expenses incurred in connection with growing our POS and TOS businesses in the United States and in our overseas operations.

General and administrative expense was $5.5 million and $4.6 million for the years ended April 30, 2012 and 2011, respectively, an increase of $0.9 million, or 18%.  Stock-based compensation expense relating to general and administrative expense was $3.0 million and $2.9 million for the years ended April 30, 2012 and 2011, respectively.  Excluding stock-based compensation, general and administrative expense increased $0.8 million, which primarily relates to the expansion of our infrastructure, the addition of our corporate offices in New Jersey, and other costs associated with the Company's growth strategy.

The Company's cash position on April 30, 2012 was $4.8 million.

* Non-GAAP Financial InformationSee the attached Reconciliation of GAAP Net Loss to Non-GAAP Net Loss for an explanation of the amounts excluded to arrive at non-GAAP net loss and related non-GAAP loss per share amounts for the fiscal years ended 2012 and 2011, respectively.  Non-GAAP financial measures provide investors and management with supplemental measures of operating perf
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SOURCE Champions Oncology, Inc.
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