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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Champions Oncology Inc | NASDAQ:CSBR | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.261 | 5.36% | 5.13 | 3.00 | 5.18 | 5.13 | 4.80 | 4.80 | 668 | 21:06:34 |
|
|
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|
|
þ
|
QUARTERLY REPORT PURSUANT TO SECTION 13
OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
For the quarterly period ended January 31, 2019
|
¨
|
TRANSITION REPORT PURSUANT TO
SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
For the transition period from
to
|
Delaware
|
52-1401755
|
(State or other jurisdiction of
incorporation or organization)
|
(I.R.S. Employer
Identification No.)
|
|
|
One University Plaza, Suite 307
|
07601
|
Hackensack, New Jersey
|
(Zip Code)
|
(Address of principal executive offices)
|
|
Large accelerated filer
¨
|
Accelerated filer
¨
|
Non-accelerated filer
þ
|
Smaller reporting company
þ
|
|
|
Emerging growth company
o
|
|
|
|
|
|
|
|
|
Item 1.
|
|
|
|
||
|
||
|
||
|
||
|
||
Item 2.
|
||
Item 3.
|
||
Item 4.
|
||
|
|
|
|
|
|
Item 1.
|
||
Item 1A.
|
||
Item 2.
|
||
Item 3.
|
||
Item 4.
|
||
Item 5.
|
||
Item 6.
|
|
January 31,
2019 |
|
April 30,
2018 |
||||
|
(unaudited)
|
|
|
||||
ASSETS
|
|
|
|
|
|
||
Current assets:
|
|
|
|
|
|
||
Cash
|
$
|
3,310
|
|
|
$
|
856
|
|
Accounts receivable, net
|
3,919
|
|
|
3,917
|
|
||
Prepaid expenses and other current assets
|
298
|
|
|
287
|
|
||
|
|
|
|
||||
Total current assets
|
7,527
|
|
|
5,060
|
|
||
|
|
|
|
||||
Restricted cash
|
—
|
|
|
150
|
|
||
Property and equipment, net
|
2,578
|
|
|
2,083
|
|
||
Other long term assets
|
137
|
|
|
116
|
|
||
Goodwill
|
669
|
|
|
669
|
|
||
|
|
|
|
||||
Total assets
|
$
|
10,911
|
|
|
$
|
8,078
|
|
|
|
|
|
||||
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
|
|
|
|
|
||
|
|
|
|
||||
Current liabilities:
|
|
|
|
|
|
||
Accounts payable
|
$
|
2,116
|
|
|
$
|
2,154
|
|
Accrued liabilities
|
641
|
|
|
569
|
|
||
Current portion of capital lease
|
224
|
|
|
26
|
|
||
Deferred revenue
|
4,723
|
|
|
4,704
|
|
||
|
|
|
|
||||
Total current liabilities
|
7,704
|
|
|
7,453
|
|
||
|
|
|
|
||||
Deferred rent
|
733
|
|
|
454
|
|
||
Capital lease, net of current portion
|
—
|
|
|
17
|
|
||
Other non-current liabilities
|
151
|
|
|
151
|
|
||
|
|
|
|
||||
Total liabilities
|
$
|
8,588
|
|
|
$
|
8,075
|
|
|
|
|
|
||||
Stockholders’ equity:
|
|
|
|
|
|
||
Common stock, $.001 par value; 200,000,000 shares authorized; 11,612,700 and 11,277,675 shares issued and 11,612,700 and 11,003,228 shares outstanding as of January 31, 2019 and April 30, 2018, respectively
|
12
|
|
|
11
|
|
||
Treasury stock, at cost, nil and 269,685 common shares as of January 31, 2019 and April 30, 2018, respectively
|
—
|
|
|
(1,252
|
)
|
||
Additional paid-in capital
|
72,756
|
|
|
72,070
|
|
||
Accumulated deficit
|
(70,445
|
)
|
|
(70,826
|
)
|
||
|
|
|
|
||||
Total stockholders’ equity
|
2,323
|
|
|
3
|
|
||
|
|
|
|
||||
Total liabilities and stockholders’ equity
|
$
|
10,911
|
|
|
$
|
8,078
|
|
|
Three Months Ended
January 31, |
|
Nine Months Ended
January 31, |
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
|
|
|
|
|
|
|
|
|
|
||||||
Oncology services revenue
|
$
|
6,430
|
|
|
$
|
5,082
|
|
|
$
|
19,348
|
|
|
$
|
15,319
|
|
|
|
|
|
|
|
|
|
||||||||
Costs and operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Cost of oncology services
|
3,429
|
|
|
2,473
|
|
|
9,963
|
|
|
7,737
|
|
||||
Research and development
|
1,269
|
|
|
1,045
|
|
|
3,550
|
|
|
3,308
|
|
||||
Sales and marketing
|
879
|
|
|
627
|
|
|
2,138
|
|
|
1,862
|
|
||||
General and administrative
|
1,223
|
|
|
1,004
|
|
|
3,311
|
|
|
3,167
|
|
||||
|
|
|
|
|
|
|
|
|
|
||||||
Total costs and operating expenses
|
6,800
|
|
|
5,149
|
|
|
18,962
|
|
|
16,074
|
|
||||
|
|
|
|
|
|
|
|
|
|
||||||
Income (loss) from operations
|
(370
|
)
|
|
(67
|
)
|
|
386
|
|
|
(755
|
)
|
||||
|
|
|
|
|
|
|
|
||||||||
Other expense:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Other (income) expense
|
(1
|
)
|
|
7
|
|
|
5
|
|
|
71
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Total other (income) expense
|
(1
|
)
|
|
7
|
|
|
5
|
|
|
71
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Income (loss) before provision for income taxes
|
(369
|
)
|
|
(74
|
)
|
|
381
|
|
|
(826
|
)
|
||||
Provision for income taxes
|
—
|
|
|
2
|
|
|
—
|
|
|
18
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Net income (loss)
|
$
|
(369
|
)
|
|
$
|
(76
|
)
|
|
$
|
381
|
|
|
$
|
(844
|
)
|
|
|
|
|
|
|
|
|
||||||||
Net income (loss) per common share outstanding
|
|
|
|
|
|
|
|
|
|
|
|
||||
basic
|
$
|
(0.03
|
)
|
|
$
|
(0.01
|
)
|
|
$
|
0.03
|
|
|
$
|
(0.08
|
)
|
and diluted
|
$
|
(0.03
|
)
|
|
$
|
(0.01
|
)
|
|
$
|
0.03
|
|
|
$
|
(0.08
|
)
|
|
|
|
|
|
|
|
|
||||||||
Weighted average common shares outstanding
|
|
|
|
|
|
|
|
|
|
|
|
||||
basic
|
11,508,180
|
|
|
10,994,434
|
|
|
11,257,314
|
|
|
10,987,797
|
|
||||
and diluted
|
11,508,180
|
|
|
10,994,434
|
|
|
13,909,063
|
|
|
10,987,797
|
|
||||
|
|
|
|
|
|
|
|
|
Common Stock
|
|
Treasury Stock
|
|
Additional
Paid-in
Capital
|
|
Accumulated
Deficit
|
|
Total
Stockholders'
Equity
|
||||||||||||||||
|
Shares
|
|
Amount
|
|
Shares
|
|
Amount
|
|
|
|
|||||||||||||||
Balance, May 1, 2018
|
11,003,228
|
|
|
$
|
11
|
|
|
269,685
|
|
|
$
|
(1,252
|
)
|
|
$
|
72,070
|
|
|
$
|
(70,826
|
)
|
|
$
|
3
|
|
Stock-based compensation
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
75
|
|
|
—
|
|
|
75
|
|
|||||
Issuance of common stock for services
|
4,762
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Issuance of common stock on exercise of stock options
|
20,000
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
42
|
|
|
—
|
|
|
42
|
|
|||||
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
483
|
|
|
483
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Balance, July 31, 2018 (unaudited)
|
11,027,990
|
|
|
11
|
|
|
269,685
|
|
|
(1,252
|
)
|
|
72,187
|
|
|
(70,343
|
)
|
|
603
|
|
|||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
88
|
|
|
—
|
|
|
88
|
|
|||||
Issuance of common stock on exercise of stock options and warrants
|
446,815
|
|
|
—
|
|
|
(269,685
|
)
|
|
1,252
|
|
|
(218
|
)
|
|
—
|
|
|
1,034
|
|
|||||
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
267
|
|
|
267
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Balance, October 31, 2018 (unaudited)
|
11,474,805
|
|
|
11
|
|
|
—
|
|
|
—
|
|
|
72,057
|
|
|
(70,076
|
)
|
|
1,992
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
335
|
|
|
—
|
|
|
335
|
|
|||||
Issuance of common stock on exercise of stock options and warrants
|
137,895
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
364
|
|
|
—
|
|
|
365
|
|
|||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(369
|
)
|
|
(369
|
)
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Balance, January 31, 2019 (unaudited)
|
11,612,700
|
|
|
$
|
12
|
|
|
—
|
|
|
$
|
—
|
|
|
$
|
72,756
|
|
|
$
|
(70,445
|
)
|
|
$
|
2,323
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended
January 31, |
||||||
|
2019
|
|
2018
|
||||
Operating activities:
|
|
|
|
|
|
||
Net income (loss)
|
$
|
381
|
|
|
$
|
(844
|
)
|
|
|
|
|
||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
|
|
|
|
|
|
||
Stock-based compensation and modification expense
|
498
|
|
|
848
|
|
||
Issuance of common stock for services
|
8
|
|
|
15
|
|
||
Depreciation and amortization expense
|
433
|
|
|
253
|
|
||
Provision for doubtful accounts
|
53
|
|
|
—
|
|
||
Deferred rent
|
279
|
|
|
302
|
|
||
Changes in operating assets and liabilities:
|
|
|
|
|
|
||
Accounts receivable
|
(55
|
)
|
|
(669
|
)
|
||
Prepaid expenses and other current assets
|
(11
|
)
|
|
115
|
|
||
Other long term assets
|
(21
|
)
|
|
—
|
|
||
Accounts payable
|
(46
|
)
|
|
124
|
|
||
Accrued liabilities
|
72
|
|
|
(320
|
)
|
||
Deferred revenue
|
19
|
|
|
(1,059
|
)
|
||
|
|
|
|
||||
Net cash provided by (used in) operating activities
|
1,610
|
|
|
(1,235
|
)
|
||
|
|
|
|
||||
Investing activities:
|
|
|
|
|
|
||
Purchase of property and equipment
|
(693
|
)
|
|
(1,017
|
)
|
||
|
|
|
|
||||
Net cash used in investing activities
|
(693
|
)
|
|
(1,017
|
)
|
||
|
|
|
|
||||
Financing activities:
|
|
|
|
|
|
||
Proceeds from exercise of options and warrants
|
1,440
|
|
|
38
|
|
||
Capital lease payments
|
(53
|
)
|
|
(19
|
)
|
||
|
|
|
|
||||
Net cash provided by financing activities
|
1,387
|
|
|
19
|
|
||
|
|
|
|
||||
Increase/(decrease) in cash and restricted cash
|
2,304
|
|
|
(2,233
|
)
|
||
Cash and restricted cash at beginning of period
|
1,006
|
|
|
3,295
|
|
||
|
|
|
|
||||
Cash and restricted cash at end of period
|
$
|
3,310
|
|
|
$
|
1,062
|
|
|
|
|
|
||||
Non-cash investing activities:
|
|
|
|
|
|
||
Purchase equipment under capital lease
|
235
|
|
|
—
|
|
|
January 31, 2019
|
|
April 30, 2018
|
||||
|
(unaudited)
|
|
|
||||
Cash
|
$
|
3,310
|
|
|
$
|
856
|
|
Restricted cash
|
—
|
|
|
150
|
|
||
Total cash and restricted cash shown in the statement of cash flows
|
$
|
3,310
|
|
|
$
|
1,006
|
|
|
Three Months Ended
January 31, |
|
Nine Months Ended January 31,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Basic and diluted net loss per share computation (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
||||||
Net income (loss) attributable to common stockholders
|
$
|
(369
|
)
|
|
$
|
(76
|
)
|
|
$
|
381
|
|
|
$
|
(844
|
)
|
Weighted Average common shares – basic
|
11,508,180
|
|
|
10,994,434
|
|
|
11,257,314
|
|
|
10,987,797
|
|
||||
Basic net income (loss) per share
|
$
|
(0.03
|
)
|
|
$
|
(0.01
|
)
|
|
$
|
0.03
|
|
|
$
|
(0.08
|
)
|
|
|
|
|
|
|
|
|
|
|
||||||
Diluted income (loss) per share computation:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income (loss) attributable to common stockholders
|
$
|
(369
|
)
|
|
$
|
(76
|
)
|
|
$
|
381
|
|
|
$
|
(844
|
)
|
Income (loss) available to common stockholders
|
$
|
(369
|
)
|
|
$
|
(76
|
)
|
|
$
|
381
|
|
|
$
|
(844
|
)
|
|
|
|
|
|
|
|
|
|
|
||||||
Weighted Average common shares
|
11,508,180
|
|
|
10,994,434
|
|
|
11,257,314
|
|
|
10,987,797
|
|
||||
Incremental shares from assumed exercise of warrants and stock options
|
—
|
|
|
—
|
|
|
2,651,749
|
|
|
—
|
|
||||
Adjusted weighted average share – diluted
|
11,508,180
|
|
|
10,994,434
|
|
|
13,909,063
|
|
|
10,987,797
|
|
||||
|
|
|
|
|
|
|
|
|
|
||||||
Diluted net income (loss) per share
|
$
|
(0.03
|
)
|
|
$
|
(0.01
|
)
|
|
$
|
0.03
|
|
|
$
|
(0.08
|
)
|
•
|
An allocation or shift of income between taxing jurisdictions;
|
•
|
The characterization of income or a decision to exclude reportable taxable income in a tax return; or
|
•
|
A decision to classify a transaction, entity or other position in a tax return as tax exempt.
|
|
January 31, 2019
|
|
April 30, 2018
|
||||
|
(unaudited)
|
|
|
||||
Accounts receivable
|
$
|
2,367
|
|
|
$
|
1,827
|
|
Unbilled services
|
1,565
|
|
|
2,103
|
|
||
Total accounts receivable and unbilled services
|
3,932
|
|
|
3,930
|
|
||
Less allowance for doubtful accounts
|
(13
|
)
|
|
(13
|
)
|
||
Total accounts receivable, net
|
$
|
3,919
|
|
|
$
|
3,917
|
|
|
January 31, 2019
|
|
April 30, 2018
|
||||
|
(unaudited)
|
|
|
||||
Deferred revenue
|
$
|
4,723
|
|
|
$
|
4,704
|
|
|
Three Months Ended
January 31, |
|
Nine Months Ended January 31,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Pharmacology services
|
$
|
5,988
|
|
|
$
|
4,447
|
|
|
$
|
18,037
|
|
|
$
|
13,600
|
|
Personalized oncology services
|
416
|
|
|
259
|
|
|
1,024
|
|
|
1,077
|
|
||||
Other
|
26
|
|
|
376
|
|
|
287
|
|
|
642
|
|
||||
Total oncology services revenue
|
$
|
6,430
|
|
|
$
|
5,082
|
|
|
$
|
19,348
|
|
|
$
|
15,319
|
|
|
January 31,
2019 |
|
April 30,
2018 |
||||
|
(unaudited)
|
|
|
||||
Furniture and fixtures
|
$
|
127
|
|
|
$
|
73
|
|
Computer equipment and software
|
1,086
|
|
|
973
|
|
||
Laboratory equipment
|
3,241
|
|
|
2,490
|
|
||
Assets in progress
|
25
|
|
|
15
|
|
||
|
|
|
|
||||
Total property and equipment
|
4,479
|
|
|
3,551
|
|
||
Less: Accumulated depreciation
|
(1,901
|
)
|
|
(1,468
|
)
|
||
|
|
|
|
||||
Property and equipment, net
|
$
|
2,578
|
|
|
$
|
2,083
|
|
For the Years Ended April 30,
|
Total
|
||
2019 (remaining)
|
$
|
218
|
|
2020
|
16
|
|
|
|
|
|
|
Total minimum payments
|
234
|
|
|
Less: amount representing interest
|
(10
|
)
|
|
Present value of minimum payments
|
224
|
|
|
Less: current portion
|
(224
|
)
|
|
|
$
|
—
|
|
|
Three Months Ended
January 31, |
|
Nine Months Ended
January 31, |
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
General and administrative
|
$
|
251
|
|
|
$
|
110
|
|
|
$
|
326
|
|
|
$
|
614
|
|
Sales and marketing
|
53
|
|
|
7
|
|
|
100
|
|
|
47
|
|
||||
Research and development
|
4
|
|
|
33
|
|
|
13
|
|
|
156
|
|
||||
Cost of oncology services
|
27
|
|
|
2
|
|
|
59
|
|
|
31
|
|
||||
Total stock-based compensation expense
|
$
|
335
|
|
|
$
|
152
|
|
|
$
|
498
|
|
|
$
|
848
|
|
|
Three Months Ended
January 31, |
|
Nine Months Ended
January 31, |
||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
Expected term in years
|
3-6
|
|
3
|
|
3-6
|
|
3-6
|
Risk-free interest rates
|
2.57% - 3.00%
|
|
1.98%
|
|
2.57% - 3.00%
|
|
1.77%-1.98%
|
Volatility
|
64.55%-84.91%
|
|
85.59%
|
|
64.55%-84.91%
|
|
85.59%-87.66%
|
Dividend yield
|
—%
|
|
—%
|
|
—%
|
|
—%
|
|
Non-
Employees
|
|
Directors
and
Employees
|
|
Total
|
|
Weighted
Average
Exercise
Price
|
|
Weighted
Average
Remaining
Contractual
Life (Years)
|
|
Aggregate
Intrinsic
Value
|
|||||||
Outstanding, May 1, 2018
|
50,000
|
|
|
2,655,845
|
|
|
2,705,845
|
|
|
$
|
2.85
|
|
|
5.9
|
|
$
|
5,265,000
|
|
Granted
|
—
|
|
|
206,790
|
|
|
206,790
|
|
|
9.86
|
|
|
8.1
|
|
—
|
|
||
Exercised
|
—
|
|
|
(357,242
|
)
|
|
(357,242
|
)
|
|
2.18
|
|
|
4.7
|
|
2,782,000
|
|
||
Forfeited
|
—
|
|
|
(8,375
|
)
|
|
(8,375
|
)
|
|
—
|
|
|
|
|
|
|
||
Canceled
|
—
|
|
|
(40,183
|
)
|
|
(40,183
|
)
|
|
2.10
|
|
|
|
|
370,626
|
|
||
Expired
|
—
|
|
|
(16,667
|
)
|
|
(16,667
|
)
|
|
—
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Outstanding, January 31, 2019
|
50,000
|
|
|
2,440,168
|
|
|
2,490,168
|
|
|
3.45
|
|
|
5.6
|
|
$
|
22,036,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Vested and expected to vest as of January 31, 2019
|
50,000
|
|
|
2,440,168
|
|
|
2,490,168
|
|
|
3.45
|
|
|
5.6
|
|
$
|
22,036,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Exercisable as of January 31, 2019
|
25,836
|
|
|
2,109,252
|
|
|
2,135,088
|
|
|
2.89
|
|
|
5.1
|
|
$
|
20,087,000
|
|
|
Number
of
Shares
|
|
Weighted
Average
Exercise
Price
|
|
Weighted
Average
Remaining
Contractual
Life (Years)
|
|
Aggregate
Intrinsic
Value
|
||||||
Outstanding, May 1, 2018
|
2,004,284
|
|
|
$
|
5.57
|
|
|
1.8
|
|
|
$
|
—
|
|
Granted
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||
Exercised
|
(247,468
|
)
|
|
5.16
|
|
|
—
|
|
|
668,195
|
|
||
Canceled
|
(85,376
|
)
|
|
4.80
|
|
|
—
|
|
|
628,128
|
|
||
Expired
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||
|
|
|
|
|
|
|
|
||||||
Outstanding, January 31, 2019
|
1,671,440
|
|
|
$
|
5.58
|
|
|
1.1
|
|
|
$
|
12,044,000
|
|
•
|
One University Plaza, Suite 307, Hackensack, New Jersey 07601, which, since November 2011, serves as the Company’s corporate headquarters. The lease expires in
November 2021
. The Company recognized
$68,000
and
$67,000
of rental costs relative to this lease for the
nine months ended January 31, 2019
and
2018
, respectively.
|
•
|
855 North Wolfe Street, Suite 619, Baltimore, Maryland 21205, which consists of laboratories and office space where the Company conducted operations related to its primary service offerings. This lease was terminated in
October 2017
. The Company transitioned its activities from this location to 1330 Piccard Drive, Suite 025, Rockville, MD. The Company recognized
nil
and
$59,000
of rental costs relative to this lease for the
nine months ended January 31, 2019
and
2018
, respectively.
|
•
|
450 East 29t
h
Street, New York, New York, 10016, which was a laboratory facility. The Company recognized
nil
and
$52,000
of rental expense for the
nine months ended January 31, 2019
and
2018
, respectively. The lease expired in
May 2017
and was not renewed.
|
•
|
1330 Piccard Drive, Suite 025, Rockville, MD 20850, which consists of laboratory and office space where the Company conducts operations related to its primary service offerings. The Company executed this lease on January 11, 2017. The operating commencement date was August 11, 2017. This lease expires in
August 2028
. The Company recognized
$453,000
and
$302,000
of rental expense for the
nine months ended January 31, 2019
and
2018
, respectively.
|
•
|
910 Clopper Road, Suites 260S and 280S, Gaithersburg, Maryland 20878, which consists of laboratory and office space where the Company conducts operations related to its primary service offerings. The Company executed this lease on April 1, 2018. The operating commencement date was May 1, 2018. This lease expires in
August 2028
. The Company recognized
$41,000
and
nil
of rental expense for
nine months ended January 31, 2019
and
2018
, respectively. The Company transitioned its activities from this location to the New Location, as defined below, and terminated this lease seven days after the commencement date of the New Location.
|
•
|
1405 Research Boulevard, Suites 125, Rockville, Maryland 20850 (“New Location”), which consists of laboratory and office space where the Company conducts operations related to its primary service offerings. The Company executed this lease on November 1, 2018. The operating commencement date was January 17, 2019. This lease expires in
January 2024
. The Company recognized $
21,000
and
nil
of rental expense for the
nine months ended January 31, 2019
and
2018
, respectively.
|
|
For the Three Months Ended January 31,
|
|||||||||||||||
|
2019
|
|
% of
Revenue
|
|
2018
|
|
% of
Revenue
|
|
%
Change
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Oncology services revenue
|
$
|
6,430
|
|
|
100.0
|
%
|
|
$
|
5,082
|
|
|
100.0
|
%
|
|
26.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Costs and operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Cost of oncology services
|
3,429
|
|
|
53.4
|
|
|
2,473
|
|
|
48.6
|
|
|
38.7
|
|
||
Research and development
|
1,269
|
|
|
19.7
|
|
|
1,045
|
|
|
20.6
|
|
|
21.4
|
|
||
Sales and marketing
|
879
|
|
|
13.7
|
|
|
627
|
|
|
12.3
|
|
|
40.2
|
|
||
General and administrative
|
1,223
|
|
|
19.0
|
|
|
1,004
|
|
|
19.8
|
|
|
21.8
|
|
||
|
|
|
|
|
|
|
|
|
|
|
||||||
Total costs and operating expenses
|
6,800
|
|
|
105.9
|
|
|
5,149
|
|
|
101.3
|
|
|
32.1
|
|
||
Loss from operations
|
$
|
(370
|
)
|
|
(5.9
|
)%
|
|
$
|
(67
|
)
|
|
(1.3
|
)%
|
|
(452.2
|
)%
|
101.INS*
|
|
XBRL Instance Document.
|
|
101.SCH*
|
|
XBRL Taxonomy Extension Schema Document.
|
|
101.CAL*
|
|
XBRL Taxonomy Extension Calculation Linkbase Document.
|
|
101.DEF*
|
|
XBRL Taxonomy Extension Definition Linkbase Document.
|
|
101.LAB*
|
|
XBRL Taxonomy Extension Label Linkbase Document.
|
|
101.PRE*
|
|
XBRL Taxonomy Extension Presentation Linkbase Document.
|
|
CHAMPIONS ONCOLOGY, INC.
|
|
|
(Registrant)
|
|
|
|
|
Date: March 18, 2019
|
By:
|
/s/ Ronnie Morris
|
|
|
Ronnie Morris
|
|
|
Chief Executive Officer
|
|
|
(principal executive officer)
|
|
|
|
Date: March 18, 2019
|
By:
|
/s/ David Miller
|
|
|
David Miller
|
|
|
Chief Financial Officer
|
|
|
(principal financial and accounting officer)
|
1 Year Champions Oncology Chart |
1 Month Champions Oncology Chart |
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