CHAMPIONS ONCOLOGY, INC. 10-K

Item 2. Properties The Company currently leases its office and laboratory facilities under non-cancelable operating leases. Rent expense for operating leases is recognized on a straight-line basis over the lease term from the lease commencement date through the 14 scheduled expiration date. Rent expenses totaled $1.8 million and $1.9 million for the years ended April 30, 2024 and 2023, respectively. The Company considers its facilities adequate for its current operational needs. The Company leases the following facilities: • 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 2026. The Company recognized $77,000 and $83,000 of rental costs relative to this lease for fiscal 2024 and 2023, respectively. • 1330 Piccard Drive, Suite 025, Rockville, MD 20850, which consists of laboratory and office space where the Company conducts operations related to its primary service offerings. The lease expires February 28, 2029. The Company recognized $1.7 million of rental costs relative to this lease for each of fiscal 2024 and 2023. • VIA LEONE XIII, 14, Milan, Italy, which consists of laboratory and office space where the Company conducts operations related to its flow cytometry service offerings. The Company consolidated its lab and office space leases at this location into one lease during fiscal 2023. The lease expires October 31, 2028. The Company recognized $50,000 and $98,000 of rental costs in Italy for fiscal 2024 and 2023, respectively. Item 3. Legal Proceedings To the knowledge of our management team, there is no litigation currently pending or contemplated against us, any of our officers or directors in their capacity as such, or against any of our property. Item 4. Mine Safety Disclosures Not applicable. PART II