On April 24, 2017, Champions Oncology, Inc. (the “Company”) received a notification letter from The NASDAQ Stock Market (“NASDAQ”) advising the Company of its failure to comply with the required minimum of $35,000,000 of market value of listed securities for continued listing on The Nasdaq Capital Market, to NASDAQ listing rule 5550(b)(2). The Company fell below the minimum requirement for the preceding 30 consecutive business days.
NASDAQ stated in the letter that the Company has 180 calendar days from April 24, 2017 (or until October 23, 2017) to regain compliance. If at any time during this compliance period the market value of listed securities closes at $35 million or more for a minimum of ten consecutive business days, NASDAQ will provide the Company written confirmation of compliance. However, there can be no assurance that the Company will comply with the required minimum of $35,000,000 of market value of listed securities during such period.
About CHAMPIONS ONCOLOGY, INC. (NASDAQ:CSBR) Champions Oncology, Inc. is engaged in the development and sale of technology solutions and products to personalize the development and use of oncology drugs. The Company has two business segments: Personalized Oncology Solutions (POS) and Translational Oncology Solutions (TOS). The POS segment provides physicians and patients information to help guide the development of personalized treatment plans. The TOS segment provides services to pharmaceutical and biotechnology companies seeking personalized approaches to drug development. Its TumorGraft Technology Platform consists of processes, physical tumors and information that it uses to personalize the development and use of oncology drugs. Each tumor from patients that it has preserved for implantation in mice, along with the patient data and molecular information associated with the tumors, are known as TumorGrafts or Patient Derived XenoGrafts of PDX Models. The collection of TumorGrafts is referred to as the Company’s TumorBank.
CHAMPIONS ONCOLOGY, INC. (NASDAQ:CSBR) Recent Trading Information CHAMPIONS ONCOLOGY, INC. (NASDAQ:CSBR) closed its last trading session down -0.14 at 2.66 with 6,427 shares trading hands.
