Champions Biotechnology, Inc. Reports Two Cents per Share Earnings for Three Quarters Ended January 31, 2008
06 Março 2008 - 9:30AM
PR Newswire (US)
ARLINGTON, Va., March 6 /PRNewswire-FirstCall/ -- Champions
Biotechnology, Inc. (OTC:CSBR) (BULLETIN BOARD: CSBR) , a
development stage biotechnology company, announced today its third
quarter financial results. Full details of the Company's financial
results are available in the Company's Form 10-QSB at
http://www.sec.gov/ For the three months ended January 31, 2008 the
Company reported net income of $611,006 and earnings per share of
$0.02 compared to a net loss of $37,198 and loss of $0.00 per share
for the comparable period one year ago. For the nine months ended
January 31, 2008, the Company reported net income of $474,011 and
earnings per share of $0.02 compared to a net loss of $74,086 and
loss of $0.00 per share for the comparable period one year ago. In
the nine months period that ended January 31, 2008, the Company
began its operations as a biotechnology company while in the nine
months ended January 31, 2007, it had no biotechnology operations.
The Company's total operating revenues were $924,940 for the three
months ended January 31, 2008 and $1,174,940 for the nine months
ended January 31, 2008. The Company generated revenues for the nine
months ended January 31, 2008 providing oncology services. For the
three months ended January 31, 2007 and for the nine months ended
January 31, 2007 the Company generated no revenues. For the three
months ended January 31, 2008, expenses were $319,998 compared to
$37,198 for the comparable period one year ago. For the nine months
ended January 31, 2008, expenses were $716,986 compared to $74,086
for the comparable period one year ago. The increased expenses for
the three and nine months ended January 31, 2008 represented the
Company moving forward in executing its new business plan of
building a biotechnology company. "I am greatly encouraged by the
Company's revenue growth in our first year of operations. This
performance helps build a solid foundation for our future as we
hope to rise to prominence quickly to become a major biotech
player," said James Martell, President and CEO of Champions
Biotechnology. "It is quite exceptional for a biotech company to
generate revenues and earnings at such an early developmental
stage." Champions Biotechnology is actively engaged, as stated in
the Company's 10-QSB filing, in pursuit of funding to accelerate
the development of the Company's preclinical platform and drug
portfolio, development of a management team, selection and
appointment of new members to the Board of Directors and formation
of a Scientific Advisory Board. The Company looks forward to
reporting updates regarding any material events and corporate
changes in the future. About Champions Biotechnology, Inc.
Champions Biotechnology Inc. is engaged in the development of
advanced preclinical platforms and predictive tumor specific data
to enhance and accelerate the value of oncology drugs for companies
and physicians. The Company believes that its preclinical platform
is a novel approach based upon the direct implantation of primary
human tumors in immune deficient mice and propagation of the
resulting xenografts (Biomerk Tumorgrafts(TM)) in a manner that
preserves the biological characteristics of the original human
tumor. Biomerk Tumorgrafts(TM), unlike cell line derived xenografts
used in traditional preclinical testing, are never passaged in cell
tissue culture. The Company believes that these Tumorgrafts more
closely reflect human cancer biology and their response to drugs is
more predictive of clinical outcomes in cancer patients. The
Company plans to leverage the preclinical platform to evaluate drug
candidates and develop a portfolio of novel therapeutic candidates
through pre-clinical trials. If drugs reach this early stage of
development, the Company intends to sell, partner with or license
them to pharmaceutical and/or biotechnology companies, as
appropriate. Management believes this strategy will enable the
Company to maximize its return on investment in a relatively short
time frame. The Company also offers its preclinical platform and
predictive tumor data to physicians for personalized patient care
and to companies for a more predictive evaluation of oncology drugs
in models that integrate drug evaluation with biomarker discovery.
This press release contains "forward-looking statements" (within
the meaning of the Private Securities Litigation Act of 1995) that
inherently involve risk and uncertainties. Champions Biotechnology
generally uses words such as "believe," "may," "could," "will,"
"intend," "expect," "anticipate," "plan," and similar expressions
to identify forward-looking statements. One should not place undue
reliance on these forward-looking statements. The Company's actual
results could differ materially from those anticipated in the
forward-looking statements for many unforeseen factors. See
Champions Biotechnology's Form 10-KSB for the fiscal year ended
April 30, 2007 for a discussion of such risks, uncertainties and
other factors. Although the Company believes the expectations
reflected in the forward-looking statements are reasonable, they
relate only to events as of the date on which the statements are
made, and Champions Biotechnology's future results, levels of
activity, performance or achievements may not meet these
expectations. The Company does not intend to update any of the
forward-looking statements after the date of this press release to
conform these statements to actual results or to changes in
Champions Biotechnology's expectations, except as required by law.
DATASOURCE: Champions Biotechnology, Inc. CONTACT: James Martell of
Champions Biotechnology, Inc., +1-703-526-0400 Web site:
http://www.championsbiotechnology.com/
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