HACKENSACK, N.J., June 9, 2016 /PRNewswire/ -- Champions
Oncology, Inc. (NASDAQ: CSBR), or the "Company", a company engaged
in the development and sale of advanced technology solutions and
products to personalize the development and use of oncology drugs,
today announced the pricing of its previously announced
underwritten public offering. The Company is offering 2,000,000
registered shares of its common stock, par value $0.001 per share, at an offering price of
$2.25 per share. In addition,
Champions Oncology, Inc. has granted the underwriter a 45-day
over-allotment option to purchase up to 300,000 additional shares
of common stock at the public offering price. All of the shares are
being offered by the Company. The shares of Champions Oncology,
Inc. are currently trading on NASDAQ under the symbol "CSBR".
National Securities Corporation, a wholly owned subsidiary of
National Holdings Corporation (NASDAQ: NHLD), is acting as Sole
Bookrunner for the offering.
The Company expects net proceeds from the offering, excluding
the exercise of the over-allotment option, if any, to be
approximately $3.85 million, after
deducting the underwriting discount and estimated offering-related
expenses. Champions Oncology, Inc. intends to use the net proceeds
of this offering for research and development to grow the
TumorGraft platform, and the balance of the net proceeds for
working capital and general corporate purposes.
The offering is expected to close on June
15, 2016, subject to customary closing conditions.
A registration statement on Form S-1 relating to these
securities was filed with the U.S. Securities and Exchange
Commission (SEC) and was declared effective on June 9, 2016. Any offer will be made only by
means of a prospectus forming a part of the effective registration
statement. Before investing, you should read the prospectus and
other documents that the Company has filed or will file with the
SEC, for information about the Company and this offering. Copies of
the prospectus relating to the offering, when available, may be
obtained by request to the offices of National Securities
Corporation, Attn: Kim Addarich,
Managing Director, 410 Park Avenue, 14th Floor, New York, NY 10022, email:
kaddarich@nhldcorp.com, telephone: (212)-417-8164, or on the SEC's
website at http://www.sec.gov.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities of Champions
Oncology, Inc. and shall not constitute an offer, solicitation or
sale of any security in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Champions Oncology, Inc.
Champions Oncology, Inc., or the "Company", is engaged in the
development of advanced technology solutions and services to
personalize the development and use of oncology drugs. The
Company's technology platform is a novel approach to personalizing
cancer care based upon the implantation of primary human tumors in
immune deficient mice followed by propagation of the resulting
engraftments, or Champions TumorGrafts, in a manner that preserves
the biological characteristics of the original human tumor in order
to determine the efficacy of a treatment regimen. The Company
uses this technology in conjunction with related services to offer
solutions for two customer groups: Personalized Oncology
Solutions, in which results help guide the development of
personalized treatment plans, and Translational Oncology Solutions,
in which pharmaceutical and biotechnology companies seeking
personalized approaches to drug development can lower the cost and
increase the speed of developing new drugs. TumorGrafts are
procured through agreements with a number of institutions in the
U.S. and overseas as well as through Champions' Personalized
Oncology Solutions business.
For more information visit Champions Oncology, Inc's website
(www.championsoncology.com)
Investor Contact
Susan Foreman, Champions
Oncology, Inc.
sforeman@championsoncology.com
Telephone: 410-369-0365
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SOURCE Champions Oncology, Inc.