Champions Oncology Files 10-Q for Oct 31, 2024

TL;DR

Champions Oncology 10-Q filed. Biotech company in MD. Fiscal year ends April 30.

AI Summary

Champions Oncology, Inc. filed its 10-Q for the period ending October 31, 2024. The company, previously known as Champions Biotechnology, Inc., is in the biological products sector and is incorporated in Delaware. Its fiscal year ends on April 30th, and its principal business address is in Baltimore, Maryland.

Why It Matters

This filing provides investors with an update on Champions Oncology's financial performance and operational status for the reported period, crucial for understanding the company's trajectory in the biotechnology sector.

Risk Assessment

Risk Level: medium — As a biotechnology company, Champions Oncology faces inherent risks related to research, development, regulatory approvals, and market adoption of its products.

Key Numbers

• 0000771856 — Central Index Key (Unique identifier for the filer.)
• 20241031 — Fiscal Period End (End date of the reporting period.)
• 0430 — Fiscal Year End (End month and day of the company's fiscal year.)

Key Players & Entities

• CHAMPIONS ONCOLOGY, INC. (company) — Filer
• 20241031 (date) — Period of Report
• 20241216 (date) — Filed as of Date
• BALTIMORE, MD (location) — Business Address
• CHAMPIONS BIOTECHNOLOGY, INC. (company) — Former Company Name

FAQ

Key Financial Figures

• $0.001 — ich Registered Common Stock, par value $0.001 per share CSBR The Nasdaq Stock Market

Filing Documents

• csbr-20241031.htm (10-Q) — 782KB
• csbrq21031202410-qex311.htm (EX-31.1) — 11KB
• csbrq21031202410-qex312.htm (EX-31.2) — 11KB
• csbrq21031202410-qex321.htm (EX-32.1) — 8KB
• 0001628280-24-051389.txt ( ) — 4864KB
• csbr-20241031.xsd (EX-101.SCH) — 35KB
• csbr-20241031_cal.xml (EX-101.CAL) — 54KB
• csbr-20241031_def.xml (EX-101.DEF) — 124KB
• csbr-20241031_lab.xml (EX-101.LAB) — 504KB
• csbr-20241031_pre.xml (EX-101.PRE) — 324KB
• csbr-20241031_htm.xml (XML) — 640KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. Condensed Consolidated Balance Sheets as of October 31, 2024 (unaudited) and April 30, 202 4 4 Unaudited Condensed Consolidated Statements of Operations for the Three and Six Months Ended October 31, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficiency) for the Three and Six Months Ended October 31, 2024 and 2023 6 Unaudited Condensed Consolidated Statements of Cash Flows for the Six Months Ended October 31, 2024 and 2023 7 Notes to Unaudited Condensed Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 23

Controls and Procedures

Item 4. Controls and Procedures 23

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 25

Risk Factors

Item 1A. Risk Factors 25

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 25

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 25

Other Information

Item 5. Other Information 25

Exhibits

Item 6. Exhibits 26 3

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements CHAMPIONS ONCOLOGY, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in Thousands) October 31, 2024 April 30, 2024 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 2,754 $ 2,618 Accounts receivable, net 10,470 9,526 Prepaid expenses and other current assets 860 1,495 Total current assets 14,084 13,639 Operating lease right-of-use assets, net 5,669 6,252 Property and equipment, net 4,967 5,721 Other long-term assets 185 185 Goodwill 335 335 Total assets $ 25,240 $ 26,132 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 4,854 $ 5,800 Accrued liabilities 2,235 2,160 Current portion of operating lease liabilities 1,401 1,337 Other current liability 151 150 Deferred revenue 10,220 12,094 Total current liabilities 18,861 21,541 Non-current operating lease liabilities 5,374 6,093 Other non-current liabilities 324 401 Total liabilities $ 24,559 $ 28,035 Stockholders' equity (deficiency): Common stock, $ .001 par value; 200,000,000 shares authorized; 13,819,236 and 13,714,099 shares issued; and 13,698,903 and 13,593,766 outstanding as of October 31, 2024 and April 30, 2024, respectively 14 14 Treasury stock, at cost ( 708 ) ( 708 ) Additional paid-in capital 83,927 83,384 Accumulated deficit ( 82,552 ) ( 84,593 ) Total stockholders' equity (deficiency) 681 ( 1,903 ) Total liabilities and stockholders' equity (deficiency) $ 25,240 $ 26,132 The accompanying notes are an integral part of these Condensed Consolidated Financial Statements. 4 CHAMPIONS ONCOLOGY, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in Thousands, Except Per Share Amounts) Three Months Ended October 31, Six Months Ended October 31, 2024 2023 2024 2023 Oncology services revenue $ 13,489 $ 11,573 $ 27,550 $ 24,134 Costs and operating expenses: Cost of oncology services 7,428 6,618 14,500 14,302 Research and development 1,689 2,515 3,143 5,308 Sal

View Full Filing

View this 10-Q filing on SEC EDGAR