Champions Biotechnology has reported a net loss of $623,234, or $0.02 per basic share, for the third quarter of fiscal 2009, compared to a net income of $311,006, or $0.01 per basic and diluted share, for the same period of fiscal 2008.
For the nine-month period ended January 31, 2009, the company reported a net loss of $1.02m, or $0.03 per basic and diluted share, compared to a net income of $174,011, or $0.01 per basic and diluted share, for the same period of 2008.
Total revenues for the third quarter of fiscal 2009 increased to $1.05m, compared to $624,940 for the same period in 2008. For the nine-month period ended January 31, 2009, revenues were $2.77m, compared to $874,940 for the same period in 2008.
Douglas Burkett, president of Champions Biotechnology, said: We intend to grow revenue from our personalized oncology and preclinical eValuation businesses as we build our own drug pipeline. During the third quarter we identified oncology drug candidates from academic centers, pharmaceutical and biotech companies and began negotiations with license holders.
We intend to leverage our predictive platform to screen drug candidates and acquire, or partner to develop, drug candidates that demonstrate efficacy in our Biomerk Tumorgraft models. The company plans to partner with pharmaceutical or biotechnology companies to advance its drugs through remaining preclinical and clinical trials.