Champions Oncology reports Q1 EPS (16c), one estimate (10c)

Reports Q1 revenue $12.6M, two estimates $13.1M. Ronnie Morris, CEO of Champions, commented, “As outlined on our year-end earnings call, the downturn in the economy, and specifically the biotech sector, was going to weigh on the Company into the start of our new fiscal year. While this is playing out as expected, demand for our services has remained strong and we’re beginning to see a positive trend in customer spending and a reduction in cancellations. Morris added, “our drug discovery initiative, operating under a wholly owned subsidiary, Corellia AI, continues to progress as we’re building therapeutic programs around two lead targets while other, new targets are being identified. We are actively engaged with investors in an effort to raise capital to support and accelerate these programs.”