Champions Oncology, Inc.

Good day, ladies and gentlemen, and welcome to the first quarter fiscal year 2023 Champions Oncology Conference Call. At this time, all participants have been placed on a listen-only mode, and the floor will be open for questions and comments after the presentation. It is now my pleasure to turn the floor over to your host, Ronnie Morris, CEO of Champions Oncology. Sir, the floor is yours.

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'll remind you that we'll 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 Form 10-Q and Form 10-K. A reconciliation of non-GAAP financial measures that may be discussed during the call will to gap financial measures is available in the earnings release. I'll start by pointing out that our prepared comments for today will be relatively brief, as we just recently provided our fiscal year end results and company update six weeks ago. On that call, I provided an update on the strategic path we embarked on in fiscal year 2022, highlighting the exciting opportunities for champions over the next several years. Those included growing our core services while investing in other areas such as data and drug discovery. The first quarter was representative of the continuity we strive for while executing on our strategy. Our oncology research services business, which includes in vivo and ex vivo studies, along with an extensive array of biomarker assays, continues to grow with another record high in our quarterly bookings with a pipeline that remains robust. The continued strength in our pipeline supports our cautious optimism for this year even during these turbulent economic times. We continue to invest in our Exvivo platform and we believe its development over the year will lead to an expanded product offering that will support revenue growth over the next few years. With regards to our multifaceted data platform, we have our Lumen software product and our data analytics. The update is similar to the one provided a few weeks ago and repeated on our quarterly calls. Lumen adoption has been slower than anticipated but we still envision a data play as part of our overall longer-term strategy. Our drug discovery programs are progressing well through the therapeutic discovery stage. More specifically, our partnership with Alloy recently reached a milestone with the completed development of a series of lead antibodies exhibiting favorable biophysical binding and specificity characteristics. A lead candidate will be selected from this series and evaluated as a potential antibody drug conjugate, which is the first of many potential therapeutic platforms for this program. Over the coming quarters, we will continue to establish additional datasets with the goal of propelling other targets towards the preclinical development phase. In summary, during the first quarter, our research services business continued to expand and delivered positive financial results while we simultaneously continue to invest for future platform expansion. Our target discovery effort continues to progress, and we look forward to positive developments over the course of the year.