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Champions Oncology Reports Full Year 2011 Financial Results
Date:7/15/2011

BALTIMORE, July 15, 2011 /PRNewswire/ -- Champions Oncology, Inc., formerly Champions Biotechnology, Inc., (OTC: CSBR):

Highlights:

  • Company completes $9.4 million financing during 2011
  • Revenue growth of 41% to $6.9 million
  • Net loss of $3.8 million; excluding stock based compensation a net loss of $0.7 million*
  • Net loss of ($0.10) per share; net loss excluding stock-based compensation of ($0.02) per share*
  • Cash of $10.5 million at year end

  • Annual 2011 Financial Results:For its fiscal year 2011, Champions generated revenue of $6.9 million, an increase of $2 million or 41%, compared to fiscal year 2010.  

    Champions also reported a net loss of $3.8 million, or ($0.10) per share, compared to a net loss of $2.9 million, or ($0.09) per share, in the corresponding prior year.

    However, excluding stock based compensation* of $3.1 million, Champions recognized net loss of $0.7 million, or ($0.02) per share for 2011 compared to a net loss of $2.3 million excluding stock based compensation* of $0.6 million, or ($0.07) per share for 2010.

    Services RevenuesTotal revenues for fiscal 2011 were $6.9 million compared to $4.9 million for fiscal 2010, an increase of $2.0 million, or 41%.  Revenues from Personalized Oncology Solutions, ("POS"), were $3.4 million compared to $3.2 million in the prior year, an increase of $0.2 million, or 6%. Revenues from Translational Oncology Solutions, ("TOS"), previously referred to as Preclinical eValuation services, were $3.5 million for 2011 as the compared to $1.7 million in the prior year, an increase of $1.8 million, or 108%.

    Costs of POS for the fiscal year 2011 and 2010 were $1.6 million and $1.1 million, respectively, an increase of $0.5 million, or 44%.  The increase in costs for POS was due to the increased volume of POS business.  For the fiscal year 2011 and 2010, gross margins fo
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    SOURCE Champions Oncology, Inc.
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