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Champions Oncology, Inc. (CSBR) is soliciting proxies for its October 14, 2026 annual stockholder meeting at its Hackensack, New Jersey headquarters. Stockholders of record as of August 21, 2026, when 13,918,571 common shares were outstanding, are entitled to vote.
Stockholders are asked to elect seven directors, ratify EisnerAmper LLP as independent registered public accounting firm for the year ending April 30, 2027, approve a non-binding advisory vote on executive compensation, and vote on the frequency of future say‑on‑pay votes. They are also asked to approve a new 2026 Equity Incentive Plan, which would authorize equity awards for employees, directors, and consultants and is required for Nasdaq compliance and to grant incentive stock options.
The proxy describes a largely independent board (five of seven directors), committee structures, director pay, and detailed executive compensation, including a $3.57 million 2026 total package for CEO Robert Brainin and $388,464 for CFO David Miller. A pay‑versus‑performance table shows 2026 net loss of $1.175 million and adoption of a clawback policy effective December 1, 2023.
Champions Oncology, Inc. reported oncology revenue of $59.4 million for the year ended April 30 2026, up 4.4% from 2025, driven mainly by stronger pharmacology services. A sharp decline in large data-license deals and lower flow cytometry revenue reduced other TOS contributions.
Total costs and operating expenses rose 15.6% to $60.6 million, reflecting expanded R&D, sales, and G&A investments. Income from operations swung to a $1.1 million loss from $4.6 million profit, and net loss was approximately $1.2 million.
Operations used $4.5 million of cash versus $7.4 million provided in 2025. Cash was $4.9 million with negative working capital of $703,000 as of April 30 2026, and the company believes existing cash and expected operating cash flows can fund operations through at least August 2027.
Champions Oncology reported record fiscal 2026 oncology revenue of $59.4 million, up 4% from $56.9 million, driven by its core research services business despite the absence of approximately $4.5 million of prior-year data license revenue. Fourth-quarter revenue rose 12% to $13.8 million, and oncology services margin improved to 51% from 41% as costs of oncology revenue fell 6%.
Profitability weakened for the year. Champions posted a loss from operations of $1.1 million, versus income from operations of $4.6 million in fiscal 2025, and a GAAP net loss of $1.2 million versus prior-year net income of $4.7 million, reflecting higher outsourced radiopharmaceutical costs and increased R&D, sales and marketing, and G&A expenses. Adjusted EBITDA remained positive at $1.6 million, but declined from $7.1 million; in the fourth quarter, Adjusted EBITDA was $158,000 compared with a $1.2 million loss a year earlier.
Operating cash use in the fourth quarter was approximately $2.2 million, mainly from working-capital timing and lower deferred revenue. Champions ended April 30, 2026 with $4.9 million in cash and no debt while continuing to invest in radiopharmaceuticals, its data platform, and commercial organization.
Champions Oncology, Inc. reported that its Board of Directors accepted the resignation of Dr. Philip Breitfeld and appointed Dr. Brian Alexander as a director to fill the vacancy. The company stated that Dr. Breitfeld’s resignation was not due to any disagreement over operations, policies, or practices.
The company noted there is no arrangement or understanding with other persons regarding Dr. Alexander’s appointment, no related-party transactions requiring disclosure, and no material plans or contracts tied to his appointment. Dr. Alexander is an experienced oncology and data-science leader, currently serving as CEO of Valo Health and CEO-Partner at Flagship Pioneering.
Champions Oncology highlighted that his background in oncology, artificial intelligence, and data-driven drug development supports its strategy of linking patient-derived tumor models with molecular and clinical datasets to power a more data-informed translational research platform.
Champions Oncology reported slightly lower quarterly oncology revenue of $16.6M, down from $17.0M a year ago, and swung to a net loss of $0.3M compared with prior net income of $4.5M. Higher outsourced lab work, especially radiolabeling, plus increased research, sales, and administrative spending drove costs up faster than revenue.
For the nine months ended January 31, 2026, revenue rose modestly to $45.6M from $44.6M, but results moved from net income of $6.5M to a net loss of $0.5M. The company used $2.5M of cash in operations and ended the period with $7.1M in cash, negative working capital of about $0.5M, and an accumulated deficit of roughly $80.4M. Management nevertheless believes existing cash and expected operating cash flows can fund operations through at least March 2027.
Champions Oncology reported third quarter fiscal 2026 oncology revenue of $16.6 million, slightly below the prior year’s $17.0 million as a large $4.5 million data license from last year did not repeat. Study service revenue still grew about 32%, reflecting strong project execution.
The company posted a GAAP net loss of $279,000 versus net income of $4.5 million a year earlier, while adjusted EBITDA fell to $574,000 from $5.1 million as oncology services margin declined to 47% from 61% due to higher outsourced lab costs and mix shift.
For the nine months ended January 31, 2026, revenue edged up to $45.6 million from $44.6 million, but results swung to a net loss of $508,000 from $6.5 million of net income, with adjusted EBITDA decreasing to $1.5 million from $8.3 million. Champions ended the quarter with $7.1 million in cash and no debt, while increasing investment in R&D, sales and marketing, and its data platform to support future growth.
Champions Oncology (CSBR) CEO and director Robert L. Brainin received several option grants to buy common stock at an exercise price of $7.80 per share on July 16, 2025, expiring on July 16, 2035.
The awards include time-based vesting, where 25% vests on July 16, 2026 and the rest monthly over three years, plus multiple performance-based tranches. These performance options vest only if the company reaches EBITDA of $25 million or $35 million over any four-quarter period, achieves data revenue of $15 million or $30 million over any four-quarter period, or maintains a 45‑day average stock price at or above strike prices of $16.00 and $24.00.
Champions Oncology director Robert Lawrence Brainin reported multiple stock option awards over several years. The Form 4 shows options to purchase common stock granted on November 5, 2021, November 1, 2022, November 3, 2023, and November 12, 2024, at exercise prices of $10.10, $7.00, $5.51, and $4.64 per share, respectively.
Each grant vests over twelve months in four installments on specified quarterly dates. After the most recent November 12, 2024 award of 23,030 options, Brainin beneficially owned 74,163 stock options directly, all expiring ten years from their respective grant dates.
Champions Oncology, Inc. director Robert Lawrence Brainin filed an initial ownership report showing a stock option holding. He holds an option to purchase 8,032 shares of common stock at an exercise price of $9.27 per share, expiring on June 9, 2031. The option vests over a two‑month period, with 6,024 options vesting on June 9, 2021 and 2,008 options vesting on August 9, 2021, and is held directly.
Champions Oncology reported higher revenue but weaker profitability for the quarter ended October 31, 2025. Oncology revenue grew to $15,035,000 from $13,489,000, an 11.5% increase, driven mainly by pharmacology services, which rose to $14,515,000 from $12,498,000. TOS data license revenue contributed $157,000 versus none a year ago, while other TOS revenue declined to $363,000 from $991,000 as flow cytometry and SaaS activity fell.
Income from operations for the quarter declined to $185,000 from $732,000, and net income attributable to common shares was $268,000 versus $728,000, or $0.02 per diluted share compared with $0.05. For the six months, oncology revenue increased to $29,030,000, but results swung to a loss from operations of $342,000 and a net loss attributable to common shares of $169,000, compared with income of $2,061,000 and $2,041,000, respectively, a year earlier. Higher research and development, sales and marketing, and general and administrative expenses reflect investment in the company’s data licensing platform and its Corellia target-discovery subsidiary. Cash was $8,516,000 with negative operating cash flow of $1,135,000, yet management believes existing cash and expected cash flows can fund operations through at least December 2026.