Champions Oncology (CSBR) 10-Q 12 Sep 14 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Jul. 31, 2014	Aug. 31, 2014
Document Information [Line Items]	'	'
Entity Registrant Name	'CHAMPIONS ONCOLOGY, INC.	'
Entity Central Index Key	'0000771856	'
Current Fiscal Year End Date	'--04-30	'
Entity Filer Category	'Smaller Reporting Company	'
Trading Symbol	'CSBR	'
Entity Common Stock, Shares Outstanding	'	66,885,741
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Jul-14	'
Document Fiscal Period Focus	'Q1	'
Document Fiscal Year Focus	'2015	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Jul. 31, 2014	Apr. 30, 2014
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$3,052	$5,891
Accounts receivable, net	925	1,325
Prepaid expenses and other current assets	456	383
Total current assets	4,433	7,599
Restricted cash	165	165
Property and equipment, net	411	434
Goodwill	669	669
Total assets	5,678	8,867
Current liabilities:	'	'
Accounts payable	1,328	981
Accrued liabilities	390	587
Deferred revenue	1,665	2,091
Total current liabilities	3,383	3,659
Warrant liability	1,856	2,011
Total liabilities	5,239	5,670
Common stock, $001 par value; 125,000,000 shares authorized; 70,121,741 shares issued and 66,885,741 shares outstanding as of July 31, 2014 and April 30, 2014	70	70
Treasury stock, at cost, 3,236,000 common shares as of July 31, 2014 and April 30, 2014	-1,252	-1,252
Additional paid-in capital	44,067	43,259
Accumulated deficit	-42,446	-38,880
Total stockholders' equity	439	3,197
Total liabilities and stockholders' equity	$5,678	$8,867

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jul. 31, 2014	Apr. 30, 2014
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized, including redeemable common stock	125,000,000	125,000,000
Common stock, shares issued	70,121,741	70,121,741
Common stock, shares outstanding	66,885,741	66,885,741
Treasury stock, common shares	3,236,000	3,236,000

UNAUDITED_CONDENSED_CONSOLIDAT

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jul. 31, 2014	Jul. 31, 2013
Operating revenue:	'	'
Personalized oncology solutions	$341	$622
Translational oncology solutions	1,571	2,398
Total operating revenue	1,912	3,020
Costs and operating expenses:	'	'
Cost of personalized oncology solutions	757	793
Cost of translational oncology solutions	965	878
Research and development	1,423	402
Sales and marketing	1,034	642
General and administrative	1,462	1,071
Total costs and operating expenses	5,641	3,786
Loss from operations	-3,729	-766
Other income (expense):	'	'
Change in fair value of warrant liability	155	-1,462
Other income (expense)	31	-1
Total other income (expense)	186	-1,463
Loss before provision for income taxes	-3,543	-2,229
Provision for income taxes	5	3
Net loss	($3,548)	($2,232)
Net loss per common share outstanding, basic and diluted (in dollars per share)	($0.05)	($0.03)
Weighted average common shares outstanding, basic and diluted (in shares)	66,885,864	66,852,100

UNAUDITED_CONDENSED_CONSOLIDAT1

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jul. 31, 2014	Jul. 31, 2013
Net loss	($3,548)	($2,232)
Foreign currency translation adjustment	0	-11
Comprehensive loss	($3,548)	($2,243)

UNAUDITED_CONDENSED_CONSOLIDAT2

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jul. 31, 2014	Jul. 31, 2013
Operating activities:	'	'
Net loss	($3,548)	($2,232)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Stock-based compensation expense	808	552
Depreciation expense	56	50
Change in fair value of warrant liability	-155	1,462
Changes in operating assets and liabilities:	'	'
Accounts receivable	400	-1,284
Prepaid expenses, deposits and other	-73	59
Accounts payable	347	-227
Accrued liabilities	-196	-270
Deferred revenue	-427	-254
Net cash used in operating activities	-2,788	-2,144
Investing activities:	'	'
Purchase of property and equipment	-33	-40
Net cash used in investing activities	-33	-40
Financing activities:	'	'
Proceeds from financing activities	0	0
Net cash used in financing activities	0	0
Exchange rate effect on cash and cash equivalents	-18	-12
Decrease in cash and cash equivalents	-2,839	-2,196
Cash and cash equivalents, beginning of period	5,891	9,561
Cash and cash equivalents, end of period	$3,052	$7,365

Organization_Use_of_Estimates_

Organization, Use of Estimates and Basis of Presentation	3 Months Ended
	Jul. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	'
	Note 1. Organization, Use of Estimates and Basis of Presentation
	Champions Oncology, Inc. (the “Company”), is engaged in the development and sale of advanced technology solutions and products to personalize the development and use of oncology drugs. The Company’s TumorGraft Technology Platform is a novel approach to personalizing cancer care based upon the implantation of human tumors in immune-deficient mice. The Company uses this technology, in conjunction with related services, to offer solutions for two consumer groups: Personalized Oncology Solutions (“POS”) and Translational Oncology Solutions (“TOS”). POS assists physicians in developing personalized treatment options for their cancer patients through tumor specific data obtained from drug panels and related personalized oncology services. The Company’s TOS business offers a technology platform to pharmaceutical and biotechnology companies using proprietary TumorGraft studies, which the Company believes may be predictive of how drugs may perform in clinical settings.
	The Company has three operating subsidiaries: Champions Oncology (Israel), Limited, Champions Biotechnology U.K., Limited and Champions Oncology Singapore, PTE LTD. For the three months ended July 31, 2014 and 2013, there were no material revenues earned by these subsidiaries.
	The Company’s foreign subsidiaries functional currency is the U.S. dollar. Transaction gains and losses are recognized in earnings. The Company is subject to foreign exchange rate fluctuations in connection with the Company’s international operations.
	These unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission or the SEC. All significant intercompany transactions and accounts have been eliminated. All figures are presented in thousands of U.S. dollars, except share data, or except where expressly stated otherwise. Certain information related to the Company’s organization, significant accounting policies and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States or GAAP has been condensed or omitted. The accounting policies followed in the preparation of these unaudited condensed consolidated financial statements are consistent with those followed in the Company’s annual consolidated financial statements for the year ended April 30, 2014, as filed on Form 10-K. In the opinion of management, these unaudited condensed consolidated financial statements contain all material adjustments necessary to fairly state our financial position, results of operations and cash flows for the periods presented and the presentations and disclosures herein are adequate when read in conjunction with the Company’s Annual Report on Form 10-K for the year ended April 30, 2014.
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
	Basic loss per share is calculated by dividing loss available to common shareholders by the weighted average number of common shares (including redeemable common stock) outstanding for the period.  Diluted loss per share is calculated based on the weighted average number of common shares (including redeemable common stock) outstanding for the period, plus the dilutive effect of common stock purchase warrants, stock options and restricted stock units using the treasury stock method.  Contingently issuable shares are included in the calculation of basic earnings per share when all contingencies surrounding the issuance of the shares are met and the shares are issued or issuable.  Contingently issuable shares are included in the calculation of dilutive earnings per share as of the beginning of the reporting period if, at the end of the reporting period, all contingencies surrounding the issuance of the shares are satisfied or would be satisfied if the end of the reporting period were the end of the contingency period.  Due to the net losses for the three months ended July 31, 2014 and 2013, basic and diluted loss per share were the same, as the effect of potentially dilutive securities would have been anti-dilutive.
	The following table reflects the total potential share-based instruments outstanding at July 31, 2014 and 2013 that could have an effect on the future computation of dilution per common share:
		Three Months Ended July 31,
		2014	2013
	Stock options	23,382,287	14,161,455
	Warrants	3,276,667	3,276,667
	Restricted stock	-	25,000
	Total common stock equivalents	26,658,954	17,463,122
	Liquidity
	Our liquidity needs have typically arisen from the funding of our research and development programs and the launch of new products, working capital requirements, and other strategic initiatives. In the past, we have met these cash requirements through our sales of products and services, cash and cash equivalents, working capital management, and proceeds from certain private placements of our securities. As of July 31, 2014, we had working capital of $1.1 million and cash and cash equivalents on hand of $3.1 million. We believe that our cash and cash equivalents on hand at July 31, 2014 are adequate to fund our operations through at least December 31, 2014. However, in order for us to continue as a going concern beyond this point, we need to obtain capital from external sources. If we are unable to obtain additional financing, we may be required to reduce the scope of, or delay or eliminate, some of our research and development and other activities, which could harm our financial condition and operating results. Financing may not be available on acceptable terms or at all, and our failure to raise capital when needed could negatively impact our growth plans and our financial condition and results of operations. Additional equity financing may be dilutive to the holders of our common stock and debt financing, if available, may involve significant cash payment obligations and covenants and/or financial ratios that restrict our ability to operate our business.

Property_and_Equipment

Property and Equipment	3 Months Ended
	Jul. 31, 2014
Property, Plant and Equipment [Abstract]	'
Property, Plant and Equipment Disclosure [Text Block]	'
	Note 2. Property and Equipment
	Property and equipment is recorded at cost and consists of laboratory equipment, furniture and fixtures, and computer hardware and software. Depreciation is calculated on a straight-line basis over the estimated useful lives of the various assets ranging from three to seven years. Property and equipment consisted of the following (in thousands):
		July 31,		April 30,
		2014		2014
		(unaudited)
	Furniture and fixtures	$	70	$	69
	Computer equipment and software		669		655
	Laboratory equipment		314		296
	Leasehold improvements		2		2
	Total property and equipment		1,055		1,022
	Less: Accumulated depreciation		-644		-588
	Property and equipment, net	$	411	$	434
	Depreciation expense was $56,000 and $50,000 for the three months ended July 31, 2014 and 2013, respectively.

ShareBased_Payments

Share-Based Payments	3 Months Ended
	Jul. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	'
	Note 3. Share-Based Payments
	The Company has in place a 2010 Equity Incentive Plan and a 2008 Equity Incentive Plan. In general, these plans provide for stock-based compensation in the form of (i) Non-statutory Stock Options; (ii) Restricted Stock Awards; and (iii) Stock Appreciation Rights to the Company’s employees, directors and non-employees. The plans also provide for limits on the aggregate number of shares that may be granted, the term of grants and the strike price of option awards.
	Stock-based compensation in the amount of $808,000 and $552,000 was recognized for the three months ended July 31, 2014 and 2013, respectively.   Stock-based compensation expense was recognized as follows (in thousands):
		Three Months Ended July 31,
		2014		2013
	General and administrative	543		419
	Sales and marketing	154		63
	Research and development	105		13
	TOS cost of sales	2		8
	POS cost of sales	4		49
	Total stock-based compensation expense	808		552
	Stock Option Grants
	Black-Scholes assumptions used to calculate the fair value of options granted during the three months ended July 31, 2014 and 2013 were as follows (in thousands):
		Three Months Ended July 31,
		2014		2013
	Expected term in years	2.5 - 6		6
	Risk-free interest rates	0.95% to 2.24%		1.38% to 1.91%
	Volatility	94.08% to 102.5%		96.4% to 100.6%
	Dividend yield	0%		0%
	The weighted average fair value of stock options granted during the three months ended July 31, 2014 and 2013 was $0.69 and $0.40, respectively. The Company’s stock options activity for the three months ended July 31, 2014 is as follows:
									Weighted
							Weighted		Average
				Directors			Average		Remaining		Aggregate
		Non-		and			Exercise		Contractual		Intrinsic
		Employees		Employees		Total	Price		Life (Years)		Value
	Outstanding, May 1, 2014	765,000		22,586,037		23,351,037	$	1.01	7.5		$	985,000
	Granted	80,000		135,000		215,000		1.01
	Forfeited	-		-11,250		-11,250		0.49
	Expired	-150,000		-22,500		-172,500		1.12
	Outstanding, July 31, 2014	695,000		22,687,287		23,382,287		1.01	7.3		$	739,000
	Vested and expected to vest as of July 31, 2014	695,000		22,687,287		23,382,287		1.01	7.3		$	739,000
	Exercisable as of July 31, 2014	396,042		14,299,785		14,695,827		0.88	6.2		$	701,000
	Included in the balances outstanding in the table above are 3,000,000 options granted to the Company’s Chief Executive Officer and President which vest based on service criteria and 3,000,000 options granted to the Company’s Chief Executive Officer and President which vest based on performance criteria.  The service-based conditions of these options provide for vesting to occur monthly over a period of three years.  Since the straight-line method is not available for performance or market-based share-based payments, the 3,000,000 performance-based options will be expensed on an accelerated basis once the Company determines it is probable that the performance-based conditions will be met.
	Stock Purchase Warrants
	As of July 31, 2014 and April 30, 2014, the Company had warrants outstanding for the purchase of 3,276,667 shares of its common stock, all of which were exercisable. Of these warrants, 1,266,667 were issued in connection with the April 2011 Private Placement and 1,860,000 were issued in connection with the January 2013 Private Placement and are accounted for as liabilities as further discussed in Note 4. The remaining 150,000 warrants, with an exercise price of $1.00, are accounted for as equity instruments and expired on July 31, 2014. Activity related to these warrants, which expire at various dates through April 2016, is summarized as follows (dollars in thousands):
							Weighted
					Weighted		Average
		Number			Average		Remaining		Aggregate
		of			Exercise		Contractual		Intrinsic
		Shares			Price		Life (Years)		Value
	Outstanding, May 1, 2014		3,276,667		$	0.61		2.9	$	984,333
	Granted		-			-		-		-
	Exercised		-			-		-		-
	Expired		-			-		-		-
	Outstanding, July 31, 2014		3,276,667		$	0.61		2.6	$	921,800
	The warrants issued in connection with both the April 2011 Private Placement and January 2013 Private Placement contain certain exercise price reset provisions. Under these provisions, the exercise price of the warrants may be adjusted downward should the Company have future sales of its Common Stock for no consideration or for a consideration per share less than the Per Share Price (as such term is defined in the April 2011 Private Placement and January 2013 Private Placement). These exercise price reset provisions resulted in a downward adjustment to the exercise price of the warrants issued in the April 2011 Private Placement from $0.90 to $0.50.
	The Company has accounted for the warrants issued in connection with the April 2011 Private Placement and January 2013 Private Placement as a liability based on the exercise price reset provisions described above. This liability, which is recorded at fair value on the accompanying consolidated balance sheets, totaled $0.8 million at the time of the close of the January 2013 Private Placement Agreement. As of July 31, 2014 and April 30, 2014, the fair value of these warrants was $1.86 million and $2.01 million, respectively. The change in fair value of these warrants has been, and will be, recognized as other income (expense) on the Company’s consolidated statements of operations. The fair value of these warrants was calculated by the Monte Carlo simulation valuation method. Assumptions used to calculate the fair value of these warrants were as follows:
		July 31,			April 30,
		2014			2014
	Expected term in years		1.7 - 3.5			1.9 - 3.7
	Risk-free interest rates		0.57%- 1.23%			0.4%- 1.17%
	Volatility		92.9%- 107.2%			95%- 113%
	Dividend yield		0%			0%
	The Company estimated the volatility based upon the applicable look-back periods or historical volatility observed for the Company. For the Risk-free rate the Company used the yield on a T-bill with maturity closest to the expected time to the warrant expiration.
	In addition to the assumptions above, the Company also takes into consideration whether or not the Company would participate in another round of financing and if that financing is registered or not and what that stock price would be for the financing at that time.
	The Company will continue to adjust the warrant liability for changes in fair value until the earlier of the exercise of the warrants, at which time the liability will be reclassified to stockholders' equity, or expiration of the warrants.
	The Company has granted demand registration rights in connection with the investment in common shares and the common shares underlying the warrants for both the April 2011 Private Placement and January 2013 Private Placement. These rights include the requirement of the Company to file certain registration statements within a specified time period and to have these registration statements declared effective within a specified time period. If the Company is not able to comply with these registration requirements, the Company will be required to pay cash penalties equal to 1.0% of the aggregate Purchase Price paid by the investors for each 30-day period in which a Registration Default, as defined in the Securities Purchase Agreement, exists. These penalties are subject to a 10% limit of the aggregate Purchase Price paid by the investors. The Company may become subject to these penalty provisions if it fails to have a registration statement for the common shares declared effective, or to maintain the effectiveness of such registration statement. The total amount of potential penalties under this registration payment arrangement ranges from $50,000 to $130,000 for each 30-day period in which a registration default exists; however, as of July 31, 2014 and April 30, 2014, and through the date of this filing, the Company does not believe these penalties to be probable and accordingly, has not established an accrual for such registration payment arrangements.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Jul. 31, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	Note 4. Related Party Transactions
	Related party transactions include transactions between the Company and its shareholders, management, or affiliates.  The following transactions were in the normal course of operations and were measured at the exchange amount, which is the amount of consideration established and agreed to by the parties.
	Consulting Services
	During the three months ended July 31, 2014 and 2013, the Company paid a member of its Board of Directors $37,500 and $37,500, respectively, for consulting services unrelated to his duties as a board member.  All of the amounts paid to this related party have been recognized and expensed in the period the services were performed.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Jul. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	Note 5. Commitments and Contingencies
	Operating Leases
	As of April 30, 2014, we lease the following facilities under non-cancelable operating lease agreements:
		·	One University Plaza, Suite 307, Hackensack, New Jersey 07601, which, since November 2011, serves as the Company’s corporate headquarters. The lease expires in November 2016. The Company recognized $21,000 and $17,000 of rental costs relative to this lease for the three months ended July 31, 2014 and 2013, respectively.
		·	855 North Wolfe Street, Suite 619, Baltimore, Maryland 21205, which consists of laboratories and office space where the Company conducts operations related to its primary service offerings.  This lease expired in June 2014. The Company is currently in the process of renewing the lease. The Company recognized $22,000 of rental costs relative to this lease for both the three months ended July 31, 2014 and 2013.
		·	17 Hatidhar Street, Ra’anana, Israel, which served as office headquarters for Champions Oncology, Israel. This lease expired in July 2013 and was not renewed. Following the expiration of this lease, the Company utilizes office space on a limited basis from one of its stockholders. The fair value of rental costs associated with the new office space is immaterial. The Company recognized nil and $5,600 of rental costs relative to this lease for the three months ended July 31, 2014 and 2013, respectively.
		·	57 Mohamed Sultan Road, Singapore, which serves as office headquarters for Champions Oncology, Singapore. The lease expires in January 2015. We incurred $1,300 and $1,400 of rental expense for the three months ended July 31, 2014 and 2013, respectively.
		·	450 East 29th Street, New York, New York, 10016, which is a laboratory at which we implant tumors. We incurred $11,600 of rental expense for the three months ended July 31, 2014. The lease began in March 2014. The lease expires in September 2014 and can be renewed by the Company for subsequent one year terms. The Company intends to extend this lease.
	Legal Matters
	The Company is not currently party to any legal matters to its knowledge. The Company is not aware of any other matters that would have a material impact on the Company’s financial position or results of operations.
	Registration Payment Arrangements
	The Company has entered into an Amended and Restated Registration Rights Agreement in connection with the April 2011 Private Placement and January 2013 Private Placement and is discussed more fully in Note 4. This Amended and Restated Registration Rights Agreement contains provisions that may call for the Company to pay penalties in certain circumstances. This registration payment arrangement primarily relates to the Company’s ability to file a registration statement within a particular time period, have a registration statement declared effective within a particular time period and to maintain the effectiveness of the registration statement for a particular time period. The Company does not believe it is probable that penalty payments will be made for the Amended and Restated Registration Rights Agreement discussed in Note 4 and, accordingly, has not accrued for such potential penalties as of July 31, 2014 and April 30, 2014.

Licensing_Agreements

Licensing Agreements	3 Months Ended
	Jul. 31, 2014
Licensing Agreements [Abstract]	'
Licensing Agreements Disclosure [Text Block]	'
	Note 6. Licensing Agreements
	In February 2010, the Company entered into an exclusive option agreement with a Canadian company. The option agreement granted the Company the exclusive right to review Irinophore C, a nanoparticle drug compound, for the treatment of various forms of cancer, including melanoma, prostate, breast, and lung cancer. On June 26th, 2014 the Company terminated its exclusive option agreement.

Teva_Agreement

Teva Agreement	3 Months Ended
	Jul. 31, 2014
Teva Agreement [Abstract]	'
Teva Agreement [Text Block]	'
	Note 7. Teva Agreement
	On July 30, 2013, the Company entered into an agreement with Teva Pharmaceutical Industries Ltd., pursuant to which the Company agreed to conduct TumorGraft studies on multiple proprietary chemical compounds provided by Teva to determine the activity or response of these compounds in potential clinical indications. Under the agreement, Teva agreed to pay an upfront payment and, under certain conditions, pay the Company various amounts upon achieving certain milestones, based on the performance of the compounds in preclinical testing and dependent upon testing the compound in clinical settings and obtaining FDA approval. In addition, Teva agreed to pay the Company royalties on any commercialized products developed under the agreement. This agreement terminated a prior collaborative agreement between Cephalon, Inc. a wholly-owned subsidiary of Teva, and the Company. For the three months ended July 31, 2014, revenue of $322,000 was recognized related to this agreement.

Fair_Value

Fair Value	3 Months Ended
	Jul. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures [Text Block]	'
	Note 8. Fair Value
	The carrying value of cash and cash equivalents, accounts receivable, prepaid expenses, deposits and other receivables, accounts payable, and accrued liabilities approximate their fair value based on the liquidity or the short-term maturities of these instruments. The fair value hierarchy promulgated by GAAP consists of three levels:
		·	Level one — Quoted market prices in active markets for identical assets or liabilities;
		·	Level two — Inputs other than level one inputs that are either directly or indirectly observable; and
		·	Level three — Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use.
	Determining which category an asset or liability falls within the hierarchy requires significant judgment. The Company evaluates its hierarchy disclosures each quarter. The Company has one liability measured at fair value on a recurring basis, which are warrants that were issued in connection with private placements of the Company’s securities that are discussed more fully in Note 3. As of July 31, 2014 and April 30, 2014, these warrants had an estimated fair value of $1,856,000 and $2,011,000, respectively, which was calculated by the Monte Carlo simulation valuation method using level three inputs. The Company has no assets that are measured at fair value on a recurring basis and there were no assets or liabilities measured at fair value on a non-recurring basis during the three months ended July 31, 2014 and 2013.
	The following table presents information about our warrants liability, which was our only financial instrument measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of July 31, 2014 and April 30, 2014 (in thousands):
	Balance, May 1, 2014		$	-2,011
	Transfers to (from) Level 3			-
	Total gains (losses) included in earnings			155
	Purchases, issuances and settlements, net			-
	Balance, July 31, 2014		$	-1,856

Business_Segment_Information

Business Segment Information	3 Months Ended
	Jul. 31, 2014
Segment Reporting [Abstract]	'
Segment Reporting Disclosure [Text Block]	'
	Note 9. Business Segment Information
	The Company operates in two segments, POS and TOS. The accounting policies of the Company’s segments are the same as those described in Note 2 of the Company’s annual financial statements for the year ended April 30, 2014, as filed on Form 10-K. The Company evaluates performance of its segments based on profit or loss from operations before stock compensation expense, depreciation and amortization, interest expense, interest income, gain on sale of assets, special charges or benefits, and income taxes (“segment profit”). Management uses segment profit information for internal reporting and control purposes and considers it important in making decisions regarding the allocation of capital and other resources, risk assessment, and employee compensation, among other matters. The following tables summarize, for the periods indicated, operating results by business segment (in thousands):
		Personalized		Translational
		Oncology		Oncology		Unallocated
		Solutions		Solutions		Corporate
	Three Months Ended July 31, 2014	(POS)		(TOS)		Overhead		Consolidated
	Net revenue	$	341	$	1,571	$	-	$	1,912
	Direct cost of services		-753		-963		-		-1,716
	Sales and marketing costs		-451		-428		-		-879
	Other operating expenses		-		-1,318		-920		-2,238
	Stock- based compensation expense (1)		-		-		-808		-808
	Segment profit (loss)	$	-863	$	-1,138	$	-1,728	$	-3,729
		Personalized		Translational
		Oncology		Oncology		Unallocated
		Solutions		Solutions		Corporate
	Three Months Ended July 31, 2013	(POS)		(TOS)		Overhead		Consolidated
	Net revenue	$	622	$	2,398	$	-	$	3,020
	Direct cost of services		-744		-870		-		-1,614
	Sales and marketing costs		-333		-246		-		-579
	Other operating expenses		-		-389		-652		-1,041
	Stock- based compensation expense (1)		-		-		-552		-552
	Segment profit (loss)	$	-455	$	893	$	-1,204	$	-766
	(1) Stock compensation expense is shown separately and is excluded from direct costs of services, sales and marketing costs, and other operating expenses, as it is managed on a consolidated basis and is not used by management to evaluate the performance of its segments.
	All of the Company’s revenue is recorded in the United States and substantially all of its long-lived assets are in the United States.

Organization_Use_of_Estimates_1

Organization, Use of Estimates and Basis of Presentation (Tables)	3 Months Ended
	Jul. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	'
	The following table reflects the total potential share-based instruments outstanding at July 31, 2014 and 2013 that could have an effect on the future computation of dilution per common share:
		Three Months Ended July 31,
		2014	2013
	Stock options	23,382,287	14,161,455
	Warrants	3,276,667	3,276,667
	Restricted stock	-	25,000
	Total common stock equivalents	26,658,954	17,463,122

Property_and_Equipment_Tables

Property and Equipment (Tables)	3 Months Ended
	Jul. 31, 2014
Property, Plant and Equipment [Abstract]	'
Property, Plant and Equipment [Table Text Block]	'
	Property and equipment consisted of the following (in thousands):
		July 31,		April 30,
		2014		2014
		(unaudited)
	Furniture and fixtures	$	70	$	69
	Computer equipment and software		669		655
	Laboratory equipment		314		296
	Leasehold improvements		2		2
	Total property and equipment		1,055		1,022
	Less: Accumulated depreciation		-644		-588
	Property and equipment, net	$	411	$	434

ShareBased_Payments_Tables

Share-Based Payments (Tables)	3 Months Ended
	Jul. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	'
	Stock-based compensation expense was recognized as follows (in thousands):
		Three Months Ended July 31,
		2014		2013
	General and administrative	543		419
	Sales and marketing	154		63
	Research and development	105		13
	TOS cost of sales	2		8
	POS cost of sales	4		49
	Total stock-based compensation expense	808		552
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	'
	Black-Scholes assumptions used to calculate the fair value of options granted during the three months ended July 31, 2014 and 2013 were as follows (in thousands):
		Three Months Ended July 31,
		2014		2013
	Expected term in years	2.5 - 6		6
	Risk-free interest rates	0.95% to 2.24%		1.38% to 1.91%
	Volatility	94.08% to 102.5%		96.4% to 100.6%
	Dividend yield	0%		0%
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	'
	The Company’s stock options activity for the three months ended July 31, 2014 is as follows:
									Weighted
							Weighted		Average
				Directors			Average		Remaining		Aggregate
		Non-		and			Exercise		Contractual		Intrinsic
		Employees		Employees		Total	Price		Life (Years)		Value
	Outstanding, May 1, 2014	765,000		22,586,037		23,351,037	$	1.01	7.5		$	985,000
	Granted	80,000		135,000		215,000		1.01
	Forfeited	-		-11,250		-11,250		0.49
	Expired	-150,000		-22,500		-172,500		1.12
	Outstanding, July 31, 2014	695,000		22,687,287		23,382,287		1.01	7.3		$	739,000
	Vested and expected to vest as of July 31, 2014	695,000		22,687,287		23,382,287		1.01	7.3		$	739,000
	Exercisable as of July 31, 2014	396,042		14,299,785		14,695,827		0.88	6.2		$	701,000
Schedule Of Share Based Compensation Warrants Activity [Table Text Block]	'
	Activity related to these warrants, which expire at various dates through April 2016, is summarized as follows (dollars in thousands):
							Weighted
					Weighted		Average
		Number			Average		Remaining		Aggregate
		of			Exercise		Contractual		Intrinsic
		Shares			Price		Life (Years)		Value
	Outstanding, May 1, 2014		3,276,667		$	0.61		2.9	$	984,333
	Granted		-			-		-		-
	Exercised		-			-		-		-
	Expired		-			-		-		-
	Outstanding, July 31, 2014		3,276,667		$	0.61		2.6	$	921,800
Schedule Of Share Based Payment Award Stock Warrants Valuation Assumptions [Table Text Block]	'
	The fair value of these warrants was calculated by the Monte Carlo simulation valuation method. Assumptions used to calculate the fair value of these warrants were as follows:
		July 31,			April 30,
		2014			2014
	Expected term in years		1.7 - 3.5			1.9 - 3.7
	Risk-free interest rates		0.57%- 1.23%			0.4%- 1.17%
	Volatility		92.9%- 107.2%			95%- 113%
	Dividend yield		0%			0%

Fair_Value_Tables

Fair Value (Tables)	3 Months Ended
	Jul. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	'
	The following table presents information about our warrants liability, which was our only financial instrument measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of July 31, 2014 and April 30, 2014 (in thousands):
	Balance, May 1, 2014	$	-2,011
	Transfers to (from) Level 3		-
	Total gains (losses) included in earnings		155
	Purchases, issuances and settlements, net		-
	Balance, July 31, 2014	$	-1,856

Business_Segment_Information_T

Business Segment Information (Tables)	3 Months Ended
	Jul. 31, 2014
Segment Reporting [Abstract]	'
Schedule of Segment Reporting Information, by Segment [Table Text Block]	'
	The following tables summarize, for the periods indicated, operating results by business segment (in thousands):
		Personalized		Translational
		Oncology		Oncology		Unallocated
		Solutions		Solutions		Corporate
	Three Months Ended July 31, 2014	(POS)		(TOS)		Overhead		Consolidated
	Net revenue	$	341	$	1,571	$	-	$	1,912
	Direct cost of services		-753		-963		-		-1,716
	Sales and marketing costs		-451		-428		-		-879
	Other operating expenses		-		-1,318		-920		-2,238
	Stock- based compensation expense (1)		-		-		-808		-808
	Segment profit (loss)	$	-863	$	-1,138	$	-1,728	$	-3,729
		Personalized		Translational
		Oncology		Oncology		Unallocated
		Solutions		Solutions		Corporate
	Three Months Ended July 31, 2013	(POS)		(TOS)		Overhead		Consolidated
	Net revenue	$	622	$	2,398	$	-	$	3,020
	Direct cost of services		-744		-870		-		-1,614
	Sales and marketing costs		-333		-246		-		-579
	Other operating expenses		-		-389		-652		-1,041
	Stock- based compensation expense (1)		-		-		-552		-552
	Segment profit (loss)	$	-455	$	893	$	-1,204	$	-766
	(1) Stock compensation expense is shown separately and is excluded from direct costs of services, sales and marketing costs, and other operating expenses, as it is managed on a consolidated basis and is not used by management to evaluate the performance of its segments.

Organization_Use_of_Estimates_2

Organization, Use of Estimates and Basis of Presentation (Details)	3 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
Total common stock equivalents	26,658,954	17,463,122
Restricted Stock [Member]	'	'
Total common stock equivalents	0	25,000
Warrant [Member]	'	'
Total common stock equivalents	3,276,667	3,276,667
Employee Stock Option [Member]	'	'
Total common stock equivalents	23,382,287	14,161,455

Organization_Use_of_Estimates_3

Organization, Use of Estimates and Basis of Presentation (Details Textual) (USD $)	Jul. 31, 2014	Apr. 30, 2014	Jul. 31, 2013	Apr. 30, 2013
Cash and Cash Equivalents, at Carrying Value, Total	$3,052,000	$5,891,000	$7,365,000	$9,561,000
Working Capital	$1,100,000	'	'	'

Property_and_Equipment_Details

Property and Equipment (Details) (USD $)	Jul. 31, 2014	Apr. 30, 2014
In Thousands, unless otherwise specified
Property, Plant and Equipment [Line Items]	'	'
Furniture and fixtures	$70	$69
Computer equipment and software	669	655
Laboratory equipment	314	296
Leasehold improvements	2	2
Total property and equipment	1,055	1,022
Less: Accumulated depreciation	-644	-588
Property and equipment, net	$411	$434

Property_and_Equipment_Details1

Property and Equipment (Details Textual) (USD $)	3 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
Property, Plant and Equipment [Line Items]	'	'
Depreciation	$56,000	$50,000

ShareBased_Payments_Details

Share-Based Payments (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jul. 31, 2014	Jul. 31, 2013
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'
Stock-based compensation expense	$808	$552
General and Administrative Expense [Member]	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'
Stock-based compensation expense	543	419
Selling and Marketing Expense [Member]	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'
Stock-based compensation expense	154	63
Research and Development Expense [Member]	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'
Stock-based compensation expense	105	13
Translational Oncology Solutions Cost of Sales [Member]	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'
Stock-based compensation expense	2	8
Personalized Oncology Solutions Cost of Sales [Member]	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'
Stock-based compensation expense	$4	$49

ShareBased_Payments_Details_1

Share-Based Payments (Details 1)	3 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
Expected term in years	'	'6 years
Risk-free interest rates Minimum	0.95%	1.38%
Risk-free interest rates Maximum	2.24%	1.91%
Volatility Minimum	94.08%	96.40%
Volatility Maximum	102.50%	100.60%
Dividend yield	0.00%	0.00%
Minimum [Member]	'	'
Expected term in years	'2 years 6 months	'
Maximum [Member]	'	'
Expected term in years	'6 years	'

ShareBased_Payments_Details_2

Share-Based Payments (Details 2) (USD $)	3 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Jul. 31, 2014	Apr. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Shares, Outstanding, Beginning Balance	23,351,037	'
Shares, Granted	215,000	'
Shares, Forfeited	-11,250	'
Shares, Expired	-172,500	'
Shares, Outstanding, Ending Balance	23,382,287	23,351,037
Shares, Vested and expected to vest	23,382,287	'
Shares, Exercisable	14,695,827	'
Weighted Average Exercise Price, Outstanding, Beginning Balance	$1.01	'
Weighted Average Exercise Price, Granted	$1.01	'
Weighted Average Exercise Price, Forfeited	$0.49	'
Weighted Average Exercise Price, Expired	$1.12	'
Weighted Average Exercise Price, Outstanding, Ending Balance	$1.01	$1.01
Weighted Average Exercise Price, Vested and expected to vest	$1.01	'
Weighted Average Exercise Price, Exercisable	$0.88	'
Weighted Average Remaining Contractual Term, Outstanding (in years)	'7 years 3 months 18 days	'7 years 6 months
Weighted Average Remaining Contractual Life (Years), Vested and expected to vest	'7 years 3 months 18 days	'
Weighted Average Remaining Contractual Life (Years), Exercisable	'6 years 2 months 12 days	'
Aggregate Intrinsic Value, Outstanding, Beginning Balance	$985,000	'
Aggregate Intrinsic Value, Outstanding, Ending Balance	739,000	985,000
Aggregate Intrinsic Value, Vested and expected to vest	739,000	'
Aggregate Intrinsic Value, Exercisable	$701,000	'
Non-Employees [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Shares, Outstanding, Beginning Balance	765,000	'
Shares, Granted	80,000	'
Shares, Forfeited	0	'
Shares, Expired	-150,000	'
Shares, Outstanding, Ending Balance	695,000	'
Shares, Vested and expected to vest	695,000	'
Shares, Exercisable	396,042	'
Directors and Employees [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Shares, Outstanding, Beginning Balance	22,586,037	'
Shares, Granted	135,000	'
Shares, Forfeited	-11,250	'
Shares, Expired	-22,500	'
Shares, Outstanding, Ending Balance	22,687,287	'
Shares, Vested and expected to vest	22,687,287	'
Shares, Exercisable	14,299,785	'

ShareBased_Payments_Details_3

Share-Based Payments (Details 3) (Warrant [Member], USD $)	3 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Jul. 31, 2014	Apr. 30, 2014
Warrant [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Number of Shares, Beginning Balance	3,276,667	'
Number of Shares, Granted	0	'
Number of Shares, Exercised	0	'
Number of Shares, Expired	0	'
Number of Shares, Ending Balance	3,276,667	3,276,667
Weighted Average Exercise Price, Beginning Balance	$0.61	'
Weighted Average Exercise Price, Granted	$0	'
Weighted Average Exercise Price, Exercised	$0	'
Weighted Average Exercise Price, Expired	$0	'
Weighted Average Exercise Price, Ending Balance	$0.61	$0.61
Weighted Average Remaining Contractual Life (Years), Balance	'2 years 7 months 6 days	'2 years 10 months 24 days
Aggregate Intrinsic Value, Beginning Balance	$984,333	'
Aggregate Intrinsic Value, Ending Balance	$921,800	$984,333

ShareBased_Payments_Details_4

Share-Based Payments (Details 4)	3 Months Ended	12 Months Ended
	Jul. 31, 2014	Apr. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Dividend yield	0.00%	0.00%
Minimum [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Expected term in years	'1 year 8 months 12 days	'1 year 10 months 24 days
Risk-free interest rates	0.57%	0.40%
Volatility	92.90%	95.00%
Maximum [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Expected term in years	'3 years 6 months	'3 years 8 months 12 days
Risk-free interest rates	1.23%	1.17%
Volatility	107.20%	113.00%

ShareBased_Payments_Details_Te

Share-Based Payments (Details Textual) (USD $)	3 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Apr. 30, 2014
Stock-based compensation expense	$808,000	$552,000	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	215,000	'	'
Share Based Compensation Arrangement By Share Based Payment Award Warrants Outstanding	3,276,667	'	3,276,667
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$0.69	$0.40	'
Warrants Not Settleable in Cash, Fair Value Disclosure	1,860,000	'	2,010,000
Percentage Of Cash Penalties	1.00%	'	'
Purchase Price Limit Percentage	10.00%	'	'
Minimum [Member]	'	'	'
Potential Penalties Amount	50,000	'	'
Maximum [Member]	'	'	'
Potential Penalties Amount	130,000	'	'
Chief Executive Officer and President [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	3,000,000	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total	3,000,000	'	'
April 2011 Private Placement [Member]	'	'	'
Warrants Issued During Period for Common Stock	1,266,667	'	'
April 2011 Private Placement [Member] | Minimum [Member]	'	'	'
Class of Warrant or Right, Exercise Price of Warrants or Rights	$0.50	'	'
April 2011 Private Placement [Member] | Maximum [Member]	'	'	'
Class of Warrant or Right, Exercise Price of Warrants or Rights	$0.90	'	'
January 2013 Private Placement [Member]	'	'	'
Warrants Issued During Period for Common Stock	1,860,000	'	'
Warrants and Rights Outstanding	$800,000	'	'
Equity Instrument [Member]	'	'	'
Warrants Issued During Period for Common Stock	150,000	'	'
Class of Warrant or Right, Exercise Price of Warrants or Rights	$1	'	'

Related_Party_Transactions_Det

Related Party Transactions (Details Textual) (Board of Directors Chairman [Member], USD $)	3 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
Board of Directors Chairman [Member]	'	'
Related Party Transaction, Amounts of Transaction	$37,500	$37,500

Commitments_and_Contingencies_

Commitments and Contingencies (Details Textual) (USD $)	3 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
Corporate Headquarters [Member]	'	'
Commitments and Contingencies [Line Items]	'	'
Lease Expiration Date	30-Nov-16	'
Operating Leases, Rent Expense	$21,000	$17,000
Laboratories and Office Space [Member]	'	'
Commitments and Contingencies [Line Items]	'	'
Lease Expiration Date	30-Jun-14	'
Operating Leases, Rent Expense	22,000	22,000
Israel Office Headquarters [Member]	'	'
Commitments and Contingencies [Line Items]	'	'
Lease Expiration Date	31-Jul-13	'
Operating Leases, Rent Expense	0	5,600
Singapore Office Headquarters in Singapore [Member]	'	'
Commitments and Contingencies [Line Items]	'	'
Lease Expiration Date	31-Jan-15	'
Operating Leases, Rent Expense	1,300	1,400
New York Laboratory [Member]	'	'
Commitments and Contingencies [Line Items]	'	'
Lease Expiration Date	31-Mar-14	'
Operating Leases, Rent Expense	$11,600	'

Teva_Agreement_Details_Textual

Teva Agreement (Details Textual) (USD $)	3 Months Ended
	Jul. 31, 2014
Teva Agreement [Line Items]	'
Deferred Revenue, Revenue Recognized	$322,000

Fair_Value_Details

Fair Value (Details) (Fair Value, Inputs, Level 3 [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jul. 31, 2014
Fair Value, Inputs, Level 3 [Member]	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'
Balance, May 1, 2014	($2,011)
Transfers to (from) Level 3	0
Total gains (losses) included in earnings	155
Purchases, issuances and settlements, net	0
Balance, July 31, 2014	($1,856)

Business_Segment_Information_D

Business Segment Information (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jul. 31, 2014		Jul. 31, 2013
Net revenue	$1,912		$3,020
Sales and marketing costs	-1,034		-642
Stock- based compensation expense	-808		-552
Personalized Oncology Solutions [Member]	'		'
Net revenue	341		622
Direct cost of services	-753		-744
Sales and marketing costs	-451		-333
Other operating expenses	0		0
Stock- based compensation expense	0	[1]	0	[1]
Segment profit (loss)	-863		-455
Translational Oncology Solutions [Member]	'		'
Net revenue	1,571		2,398
Direct cost of services	-963		-870
Sales and marketing costs	-428		-246
Other operating expenses	-1,318		-389
Stock- based compensation expense	0	[1]	0	[1]
Segment profit (loss)	-1,138		893
Unallocated Corporate Overhead [Member]	'		'
Net revenue	0		0
Direct cost of services	0		0
Sales and marketing costs	0		0
Other operating expenses	-920		-652
Stock- based compensation expense	-808	[1]	-552	[1]
Segment profit (loss)	-1,728		-1,204
Consolidated [Member]	'		'
Net revenue	1,912		3,020
Direct cost of services	-1,716		-1,614
Sales and marketing costs	-879		-579
Other operating expenses	-2,238		-1,041
Stock- based compensation expense	-808	[1]	-552	[1]
Segment profit (loss)	($3,729)		($766)
[1]	Stock compensation expense is shown separately and is excluded from direct costs of services, sales and marketing costs, and other operating expenses, as it is managed on a consolidated basis and is not used by management to evaluate the performance of its segments.