Warrants to purchase an aggregate of 858,695 shares of common stock, par value $0.001 per share (“Shares”), of Champions Oncology, Inc. (the “Company”) were exercised by an aggregate of seven warrant holders. On March 26, 2020, (i) an aggregate of 698,046 restricted Shares were issued in exchange for cash, at exercise prices of $5.76 and $4.80, resulting in cash proceeds to the Company of approximately $3.9 million, and (ii) an aggregate of 160,649 Shares were issued on a cashless basis to the terms of such warrants. The issuances of the Shares were exempt from registration under Section 4(a)(2) or Section 3(a)(9) of the Securities Act of 1933, as amended.

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.