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Champions Oncology Inc. (CSBR+9.95%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing an increase in oncology revenue to $17,039,000 from $12,019,000 in the same quarter the previous year. This increase is attributed to a stronger bookings to revenue conversion rate.
Cost of oncology revenue for the quarter decreased to $6,617,000 from $7,849,000 in the same quarter of the previous year. The decrease is due to efficiency initiatives and a reduction in outsourced lab services.
Research and development expenses were $1,719,000 for the quarter, down from $2,186,000 in the previous year. This reduction is primarily due to decreased investment in developmental programs.
Sales and marketing expenses remained relatively stable at $1,806,000 compared to $1,797,000 in the previous year.
General and administrative expenses decreased to $2,398,000 from $2,764,000, primarily due to reduced compensation and recruitment expenses.
Net income for the quarter was $4,495,000, compared to a net loss of $2,530,000 in the previous year. Basic net income per share was $0.33, compared to a loss of $0.19 per share in the previous year.
Cash provided by operating activities was $518,000, while cash used in investing and financing activities was $136,000 and $202,000, respectively.
Champions Oncology had a working capital deficit of $173,000 as of January 31, 2025. The company acknowledges its dependence on positive operating results and potential financing to meet future obligations.
The filing also details various financial strategies, including efforts to increase revenues and reduce costs without disrupting the business.
Champions Oncology continues to focus on its technology solutions for drug discovery and development, highlighting its pharmacology and biomarker platforms.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Champions Oncology Inc. quarterly 10-Q report dated March 17, 2025. To report an error, please email earnings@qz.com.