Champions Oncology, Inc. - CSBR STOCK NEWS

Champions Oncology (NASDAQ:CSBR) has launched Corellia AI, a wholly-owned subsidiary aimed at advancing therapeutic discovery through AI-driven technology. The new entity will utilize Champions' PDX Molecular Atlas and living bank of PDX models as key tools in its platform.

Corellia AI focuses on developing first-in-class Antibody Drug Conjugates (ADCs) targeting patients with unmet needs, leveraging deep data for innovative therapeutic programs. Under the leadership of Ronnie Morris and Michael Ritchie, the initiative aims to rapidly advance these programs into clinical trials. This strategic move is seen as a natural progression in Champions’ efforts to innovate drug discovery, potentially enhancing growth in the biotech sector.

Champions Oncology (CSBR) announced a $5 million stock repurchase program authorized by its Board of Directors, valid through April 30, 2024. The company aims to utilize this program as a strategic move to enhance long-term shareholder value amidst a favorable macroeconomic environment. CEO Ronnie Morris and CFO David Miller expressed confidence in the company's prospects, emphasizing that the current market valuation does not reflect its potential. The repurchase will occur through open market transactions, with flexibility in timing and amount based on market conditions. The program can be modified or terminated at the Board's discretion.

Champions Oncology (Nasdaq: CSBR) reported its Q3 fiscal 2023 financial results, revealing a quarterly revenue of $12.8 million, a decrease of 3.2% from the previous year. The adjusted EBITDA loss was $1.6 million, primarily due to increased R&D spending. The company experienced increased operating costs, totaling $15.2 million, a 23.2% rise year-over-year. Challenges were attributed to a macroeconomic environment leading to client cancellations impacting revenue streams. Despite these setbacks, Champions' long-term strategy remains intact, with expectations for improved results in fiscal 2024.

Champions Oncology, Inc. (CSBR) will report its third-quarter financial results for the period ending January 31, 2023, on March 15, 2023, after market close. Additionally, the company will host a conference call at 4:30 P.M. EDT to discuss these results. Interested parties can participate by calling 888-506-0062 (Domestic) or 973-528-0011 (International). A replay of the call will be accessible shortly after the event. Champions Oncology specializes in AI-driven drug discovery and provides innovative therapeutic and research solutions to biopharma clients.

Champions Oncology (NASDAQ:CSBR) reported record second-quarter fiscal 2023 revenue of $14.3 million, reflecting a 21% year-over-year increase. However, the company faced a slowdown in bookings growth attributed to the challenging global economic environment, leading to increased cancellations. Adjusted EBITDA for the quarter was $686,000, a slight decrease from $743,000 the previous year. Full-year growth targets have been revised to 10%-15% due to these factors. Despite challenges, Champions maintains a strong cash position of $10.8 million and no debt.

Champions Oncology, Inc. (CSBR) will report its second quarter financial results for the period ended October 31, 2022, on December 13, 2022, after market close. The company specializes in drug discovery through AI-driven pharmaco-pheno-multiomic integration and offers innovative research services to biopharma organizations. A conference call discussing the results will take place at 4:30 PM EST on the same day, with dial-in options available for both domestic and international participants. A replay will be accessible within 72 hours.

Champions Oncology (NASDAQ:CSBR) reported record revenue of $13.7 million for Q1 fiscal 2023, marking a 22.1% year-over-year increase. The adjusted EBITDA was $450,000, reflecting growth in its service offerings. Total operating expenses rose to $14 million, leading to a loss from operations of $284,000. Despite rising costs, the company ended the quarter with a strong cash position of $8.1 million and no debt. The report highlights significant bookings and advancements in drug discovery partnerships.

Champions Oncology (NASDAQ:CSBR) will announce its first quarter financial results for the period ending July 31, 2022, on September 8, 2022, post-market close. A conference call is scheduled for the same day at 4:30 PM EDT to discuss the results. Investors can join the call by dialing 888-506-0062 (Domestic) or 973-528-0011 (International). A replay will be available afterwards, along with access on the company's website within 72 hours. Champions Oncology focuses on transforming drug discovery through innovative approaches.

Champions Oncology (NASDAQ:CSBR) reported a record annual revenue of $49.1 million for fiscal year 2022, a 20% increase year-over-year. Fourth-quarter revenue rose 22% to $12.9 million. The company achieved a gross margin of 52% and an adjusted EBITDA of $3.1 million for the year. Operating expenses increased 19%, driven by higher costs in research and development and general administrative expenses. Despite reporting a loss from operations of $311,000 in Q4, Champions ended the year with a strong cash position of $9.0 million and no debt.