Champions Oncology(US:CSBR)2022-09-11 16:00Revenue and Expenses - Oncology services revenue for the three months ended July 31, 2022, was $13.7 million, an increase of 22.1% from $11.3 million in the same period of 2021 [102]. - Cost of oncology services increased to $7.1 million for the three months ended July 31, 2022, representing a 30.7% rise from $5.4 million in 2021 [103]. - Research and development expenses rose to $2.9 million for the three months ended July 31, 2022, a 25.3% increase from $2.3 million in 2021 [106]. - Sales and marketing expenses increased to $1.7 million for the three months ended July 31, 2022, up 7.5% from $1.6 million in 2021 [107]. - General and administrative expenses were $2.4 million for the three months ended July 31, 2022, an increase of 11.3% from $2.2 million in 2021 [108]. Net Loss and Financial Position - The company reported a net loss of approximately $319,000 for the three months ended July 31, 2022, compared to a net loss of $175,000 in the same period of 2021 [100]. - As of July 31, 2022, the company had an accumulated deficit of approximately $72.3 million and cash of $8.1 million [100]. - The company believes its cash on hand, along with expected positive cash flows for fiscal year 2023, are adequate to fund operations for at least 12 months [100]. Strategic Initiatives - The company launched Lumin Bioinformatics, a new oncology data-driven software program, during fiscal 2021 to enhance drug discovery [95]. - The company is exploring strategic options, including potential spin-out transactions or capital raises, to create additional value from its drug discovery business [99].