Champions Oncology, Inc.

Greetings and welcome to the Champions Oncology third quarter 2021 earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. And as a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Ronnie Morris, Chief Executive Officer. Thank you, sir. You may begin.

Good afternoon.

I am Ronnie Moore, CEO of Champions Oncology. Joining me today is David Miller, our Chief Financial Officer. Thank you for joining us for our quarterly earnings call. Before I begin, I will remind you that we will be making forward-looking statements during today's call and that actual results could differ materially from what is described in those statements. Additional information on factors that could cause results to differ is available in our Forms 10-Q and Form 10-K. A reconciliation of non-GAAP financial measures that may be discussed during the call the GAAP financial measures is available in the earnings release. Overall, this quarter's successful results reflected the execution of our strategic vision and a continuation of the positive momentum that has been building throughout the year. Our revenue grew to $10.8 million as we continued to successfully expand our services as well as investing for future growth opportunities. As you know, last quarter we announced a significant achievement for Champions. the launch of Lumen Bioinformatics, our proprietary SAS platform. As a reminder, Lumen was developed by combining our unique and proprietary data with large publicly available data sets to provide a tool for biologists to leverage computational analytics in their discovery and development programs. We continue to add functionality, enhanced analytic tools, and visualizations, as well as additional data to the platform. As an example, We recently announced the addition of a proteomics module, which provides biologists with unique analytics and visualizations to understand proteomic effects in relation to genomic characterizations. While Lumen is still considered in the early launch stage, the feedback from our customers has been extremely positive, and we have successfully increased our software license sales this quarter. It is still too early to project the potential revenue contribution of our Lumen software, but we are continuing to invest in its development and will be looking to broaden its adoption with both our existing and new customers. Turning to our ex vivo platform, it continues to expand and contribute meaningfully to our revenue growth. As we have discussed throughout the year, we have historically worked with partners to perform our solid tumor ex vivo studies with a goal of bringing this work in-house at the start of the fourth quarter. We are on track and have started performing solid tumor ex vivo work at Champions. We expect to benefit from the lower costs and greater control. Furthermore, we believe that as we continue to expand our comprehensive and unique ex vivo platform, it will contribute meaningfully to our revenue growth as we head into the next fiscal year. With regard to our biomarker assays and specifically regulatory flow cytometry and histology, our bookings were in line with our expectations for the quarter. As COVID's negative impact on clinical trials recedes and our deal flow grows, We remain cautiously optimistic that our regulatory clinical services will reach the levels anticipated when we first decided to enter the market. In order to expand our available market opportunities, over the next several months we will be opening a lab in Europe, which will enable us to bid on additional global clinical trial work being performed in Europe. We look forward to continued expansion of our clinical biomarker business in the coming quarters. On the R&D front, we are investing in the development of our service offerings and enriching the data contained within our models. As mentioned earlier, we have begun the proteomic characterization of our tumors, which will only further enhance the uniqueness and value of our tumor bank. Over the coming quarters, we anticipate that we will be reinvesting some of our profits in new R&D projects that will lead to further strategic opportunities for champions, as we transition towards new services and revenue streams. In summary, we had a successful third quarter as we executed on multiple fronts, continuing to grow our service business while also investing for future revenue growth opportunities. Now let me turn the call over to David Miller for a more detailed review of our financial results.