BALTIMORE, Dec. 15 /PRNewswire-FirstCall/ -- Champions Biotechnology, Inc. (OTC Bulletin Board: CSBR), a company engaged in the development of advanced preclinical platforms and tumor specific data to enhance the value of oncology drugs, today announced its financial results for the second fiscal quarter ended October 31, 2009. Full details of Company's financial results are available in the Company's Form 10-Q at www.championsbiotechnology.com.
Total revenues for the second quarter of 2010 were $1,289,000 as compared to $1,044,000 in fiscal 2009, an increase of 23%. The overall increase was derived from the Company's Preclinical eValuation business which generated revenues of $700,000 for the second fiscal quarter of 2010 compared to $180,000 for the corresponding quarter a year ago, an increase of 289%. Revenues from Personalized Oncology Services for the second fiscal quarter of 2010 were $589,000 as compared to $864,000 in fiscal 2009, a decrease of 32%. The overall reduction resulted from a decrease in panel revenues during the quarter partially offset by increases in Personalized Tumorgraft implantations and associated drug studies as well as vaccine studies as the Company focused on growing this more strategic area of the Personalized Oncology business.
Costs of Preclinical eValuation services for the second fiscal quarter of 2010 totaled $350,000 as compared to $90,000 in fiscal 2009. The cost of Preclinical eValuation expenses increased proportionally with the additional
|SOURCE Champions Biotechnology, Inc.|
Copyright©2009 PR Newswire.
All rights reserved