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Champions Oncology Reports Fiscal 2012 Second Quarter Financial Results
Date:12/14/2011

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Sales and marketing expense was $0.7 million and $0.1 million for the three months ended October 31, 2011 and 2010, respectively, an increase of $0.6 million.
Sales and marketing expense was $1.3 million and $0.1 million for the six months ended October 31, 2011 and 2010, respectively, an increase of $1.2 million.
The year to date increase is primarily related to an increase in our costs associated with increasing our sales force to align with the Company's growth strategy.

General and administrative expense was $1.5 million and $0.6 million for the three months ended October 31, 2011 and 2010, respectively, an increase of $0.9 million.
General and administrative expense was $3.1 million and $1.3 million for the six months ended October 31, 2011 and 2010, respectively, an increase of $1.8 million. These increases are primarily related to an increase in stock-based compensation and an increase in Company personnel due to growth.

For the second quarter of fiscal 2012, the Company reported a net loss of $2.3 million, or ($0.05) per share, compared to a net loss of $0.05 million, or ($0.00) per share, in the corresponding quarter of fiscal 2011.  In addition to the factors described above, the Company's net losses reflect non-cash expenses, i.e., share-based compensation and depreciation, of $0.9 million or ($0.02) per share, in the second quarter of 2012 compared to $0.2 million, or ($0.00) per share, in the second quarter of 2011.

The Company's cash position on October 31, 2011 was $7.1 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 second quarter ended, 2012 and 2011, respectively.  Non-GAAP financial measures provide investors and management with supplemental measures of operating performance and trends tha
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SOURCE Champions Oncology, Inc.
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