HACKENSACK, N.J., June 15, 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 closing of its previously announced
underwritten public offering of 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, the Company announced today the partial
exercise of the over-allotment option granted to the underwriter to
purchase an additional 258,749 shares of its common stock at the
public offering price. All of the shares have been 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), has acted as Sole
Bookrunner for the offering.
The net proceeds from the offering, including the partial
exercise of the over-allotment option, is approximately
$4.39 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.
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 was made only by means of
a prospectus forming a part of the effective registration
statement. Copies of the prospectus relating to the offering, 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 Contacts
Susan Foreman, Champions
Oncology, Inc.
sforeman@championsoncology.com
Telephone: 410-369-0365
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SOURCE Champions Oncology, Inc.