CollabRx Reports Fourth Quarter and Fiscal Year 2013 Financial Results

CollabRx Reports Fourth Quarter and Fiscal Year 2013 Financial Results

Company Records Initial Revenues From Interpretive Laboratory Products and
Services

SAN FRANCISCO, Calif., June 3, 2013 (GLOBE NEWSWIRE) -- CollabRx, Inc. (the
"Company") (Nasdaq:CLRX) today announced financial results for the fourth
quarter and for the full Fiscal Year 2013, which ended March 31, 2013.

Fiscal 2013 Financial Statement Highlights

  *Total revenue for the year was $400,000, with $275,000 coming in the
    fourth quarter as the Company entered the commercialization phase of its
    business. Sequentially, revenue in the fourth quarter increased by
    $250,000 from the $25,000 reported for the third quarter.
    
  *The Company's net loss for Fiscal 2013 was ($3.9) million or ($2.12) per
    share, compared with net loss of ($1.4) million or ($0.85) per share in
    the prior fiscal year. The Company's net loss for the fourth quarter was
    ($811) thousand, or ($0.43) per share, compared with net loss of ($1.2)
    million or ($0.61) per share in the third quarter.
    
  *Operating expenses totaled $4.4 million for the fiscal year ended March
    31, 2013, and included the expenses of the merged company since its
    acquisition date of July 12, 2012.Of that amount, $829 thousand were
    non-cash charges for depreciation, amortization and stock compensation
    expense.Operating Expenses for the fourth quarter were $1.1 million,
    which included approximately $272 thousand for non-cash charges. This
    represented a reduction in operating expenses from the third quarter of
    Fiscal 2013, which came in at $1.3 million and included $222 thousand of
    non-cash charges.
    
  *The operating loss for Fiscal 2013 was ($4.1) million, compared to ($2.5)
    million in the prior year.During the fourth quarter, the operating loss
    was ($848) thousand, compared to operating loss of ($717) thousand in the
    fourth quarter of the prior fiscal year, and ($1.3) million in the third
    quarter of Fiscal 2013.
    
  *CollabRx ended the Fiscal Year 2013 with approximately $4 million in cash
    and cash equivalents.

CollabRx noted that its acquired operations consisted of a development-stage
company, which entered its commercialization phase and recorded its initial
revenues related to its laboratory products and services in the fourth quarter
of Fiscal 2013.CollabRx stock began trading on NasdaqCM under the symbol
CLRX, on September 27, 2012.The financial report for the full year of Fiscal
2013 reflects operations of the former Tegal Corp., CollabRx's predecessor
company and acquirer, and includes one-time launch activities for the newly
public CollabRx.

Fourth Quarter Business Highlights

  *The fourth quarter of Fiscal 2013 marked the initial revenues generated by
    the commercial laboratory products and services of CollabRx, Inc., a data
    analytics company that uses cloud-based expert systems to inform
    healthcare decision-making.
    
  *The Company formed a Pan Cancer (biomarker-focused) molecular oncology
    editorial board to be led by Razelle Kurzrock, M.D., who will serve as
    Chief Editor. The Pan Cancer board is the most recent addition among
    CollabRx's existing editorial boards, which identify clinically actionable
    biomarkers in the context of individual cancer types such as lung cancer
    or melanoma. The Pan Cancer editorial board is differentiated in that it
    will apply a broad molecular oncology perspective in the identification of
    biomarkers that are clinically actionable in any cancer type. Background
    about the editorial board can be found on the company's website
    (http://www.collabrx.com/expert-affiliations/cancer-specific-editorial-boards/pan-cancer/).
    
  *Under the terms of a multi-year partnership agreement with Life
    Technologies Corporation (Nasdaq:LIFE), CollabRx accelerated activities
    during the Fiscal Fourth Quarter related to the development and
    commercialization of CollabRx technology and content resources to be used
    in conjunction with Life Technologies'global cancer diagnostics
    activities and its laboratory developed test services business.
    
  *CollabRx and Projects In Knowledge, Inc., a leading developer of
    point-of-care digital and mobile information tools and continuing medical
    education (CME/CE) programs, announced a multi-year partnership agreement
    to jointly distribute informational point-of-care software applications to
    the more than 35,000 oncologists and other clinicians in the Projects In
    Knowledge clinician network.
    
  *CollabRx announced the formation of an editorial board for prostate cancer
    to be led by E. David Crawford, M.D. who will serve as Chief Editor. Dr.
    Crawford is the distinguished Professor of Surgery, Urology, and Radiation
    Oncology, and head of the Section of Urologic Oncology at the University
    of Colorado Anschutz Medical Campus. Dr. Crawford will lead a
    distinguished group of physicians from leading institutions such as Yale
    University, University of Michigan, Cleveland Clinic, Dana-Farber Cancer
    Institute, and others.
    
  *CollabRx announced the formation of a Pan Cancer (biomarker-focused)
    molecular oncology editorial board to be led by Razelle Kurzrock, M.D.,
    who will serve as Chief Editor. Dr. Kurzrock is Director of the Center for
    Personalized Therapy at UC San Diego Moores Cancer Center, Vice Chief of
    the Hematology-Oncology Division in the UC San Diego School of Medicine
    and Senior Deputy Center Director, Clinical Science, for UC San Diego
    Moores Cancer Center.

Business Outlook

In the first quarter of Fiscal 2014 and throughout the current fiscal year,
CollabRx expects to build revenue primarily related to fee-for-services
performed in connection with its agreement with Life Technologies, Inc. It
also expects that initial recurring revenue based on providing its content to
other laboratories on a Software as a Service ("SaaS") basis to begin in the
latter half of Fiscal 2014.

CollabRx expects quarterly cash operating expenses to continue to be in the
range of $750,000 to $1 million. The Company also continues to expect its
operating expenses in near-term quarters to be materially offset in Fiscal
2014 by revenue both from agreements with its current partners and customers,
as well as new agreements that it expects to sign during the year.

"We are pleased to report the achievement of our publicly announced goal of
recording CollabRx's first significant revenue in the fourth quarter of Fiscal
2013," said CollabRx Chairman and Chief Executive Officer Thomas Mika."We
believe that the initiation of revenue, combined with the numerous
partnerships we have begun announcing in recent weeks, marks the start of a
growth phase that we expect will build substantially in Fiscal 2014.The
success of our initial launch shows that we are well on our way toward
achieving another publicly announced objective: establishing a demonstrable
trajectory toward technology, content and market leadership in the data
analytics space in molecular medicine.The marketplace's early acceptance of
our interpretive content is enabling CollabRx to bring continually increasing
value to the treatment of cancer.The strength of our strategic relationships
with recognized industry leaders, combined with our expanding pipeline of
prospective new partnerships, provides the prospect of significant growth in
Fiscal 2014."

Investor Conference Call Today at 5 p.m. EDT (2 p.m. PDT)

CollabRx will hold an investor conference call today to discuss the Company's
financial results for the fourth quarter of fiscal 2013 and to provide an
update to the business.

The dial-in number for the live audio call beginning on Monday, June 3, 2013,
at 5 p.m. EDT (2 p.m. PDT) is (877) 369-6591 in the U.S. and (253) 237-1176
for international participants.The conference identification number is
73634657.A live webcast of the conference call will also be available at:

http://investor.shareholder.com/media/eventdetail.cfm?eventid=130201&CompanyID=AMDA-1MQZB1&e=1&mediaKey=B72F44BB3E6E439488C570745B377AD3

About CollabRx

CollabRx, Inc. (Nasdaq:CLRX) is a leader in cloud-based expert systems to
inform health care decision-making. CollabRx uses information technology to
aggregate and contextualize the world's knowledge on genomics-based medicine
with specific insights from the nation's top cancer experts starting with the
area of greatest need: advanced cancers in patients who have effectively
exhausted the standard of care. More information may be obtained at
http://www.collabrx.com.

CollabRx Safe Harbor Statement

This press release includes forward-looking statements about CollabRx's
anticipated results that involve risks and uncertainties. Some of the
information contained in this press release, including, but not limited to,
statements as to industry trends and CollabRx's plans, objectives,
expectations and strategy for its business, contains forward-looking
statements that are subject to risks and uncertainties that could cause actual
results or events to differ materially from those expressed or implied by such
forward-looking statements. Any statements that are not statements of
historical fact are forward-looking statements. When used, the words
"believe," "plan," "intend," "anticipate," "target," "estimate," "expect" and
the like, and/or future tense or conditional constructions ("will," "may,"
"could," "should," etc.), or similar expressions, identify certain of these
forward-looking statements. Important factors which could cause actual results
to differ materially from those in the forward-looking statements are detailed
in filings made by CollabRx with the Securities and Exchange Commission.
CollabRx undertakes no obligation to update or revise any such forward-looking
statements to reflect subsequent events or circumstances.

COLLABRX, INC. AND SUBSIDIARIES
(formerly TEGAL CORPORATION)
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In thousands, except share data)
                                                                  
                                                        March 31,  March 31,
                                                         2013       2012
ASSETS                                                             
Current assets:                                                    
Cash and cash equivalents                                $4,039     $7,820
Accounts receivable                                      250       --
Prepaid expenses and other current assets                102       56
Other assets of discontinued operations                  11        418
Total current assets                                     4,402     8,294
Property and equipment, net                              142       56
Intangible assets, net                                   1,490     --
Goodwill                                                 603       --
Investment in convertible promissory note                345       312
Total assets                                             $6,982   $8,662
LIABILITIES AND STOCKHOLDERS' EQUITY                               
Current liabilities:                                               
Accounts payable, accrued expenses and current           $167     $317
liabilities
Common stock warrant liability                           10        19
Liabilities of discontinued operations                   16        246
Total current liabilities                                193       582
Deferred tax liability                                   581       --
Promissory Note                                          504       --
Total liabilities                                        1,278     582
                                                                  
Stockholders' equity:                                              
Preferred stock, $0.01 par value; 5,000,000 shares       --       --
authorized; none issued and outstanding
Common stock, $0.01 par value; 50,000,000 shares
authorized;1,952,980 and 1,688,807 shares issued and    19        17
outstanding at March 31, 2013 and March 31, 2012,
respectively
Additional paid-in capital                               130,602   129,052
Accumulated other comprehensive loss                     (142)     (142)
Accumulated deficit                                      (124,775) (120,847)
Total stockholders' equity                               5,704     8,080
Total liabilities and stockholders' equity               $6,982     $8,662



COLLABRX, INC. AND SUBSIDIARIES
(formerly TEGAL CORPORATION)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
and COMPREHENSIVE LOSS
(Unaudited)
(In thousands, except share data)
                                                                
                                   Three Months Ended  Twelve Months Ended
                                    March 31,           March 31,
                                   2013      2012       2013       2012
                                                                
Revenue                             $250      $--     $300       $--
Revenue - related party             25        25         100        100
Total revenue                       275       25         400        100
Cost of revenue                     18        --       56         --
Gross profit                        257       25         344        100
Operating expenses:                                              
Engineering                         243      --       568       --
Research and development            169      --       457       --
Sales and marketing                 73       --       249       --
General and administrative          620      742       3,165     2,615
Total operating expenses            1,105    742       4,439     2,615
Operating loss                      (848)    (717)     (4,095)   (2,515)
Equity in loss of unconsolidated    --      (1,545)   --       (2,046)
affiliate
Other income (expense), net         10       12        39        18
Loss before income tax benefit      (838)    (2,250)   (4,056)   (4,543)
Income tax benefit                  (31)     --       (83)      --
Loss from continuing operations     (807)    (2,250)   (3,973)   (4,543)
Gain on sale of discontinued        --      --       --       2,930
operations, net of taxes
Income (loss) from discontinued     (4)      23        45        184
operations, net of taxes
(Loss) income from discontinued     (4)      23        45        3,114
operations, net of taxes
Net loss                            (811)    (2,227)   (3,928)   (1,429)
                                                                
Other comprehensive income          --      --       --       25
Comprehensive loss                  $(811)  $(2,227) $(3,928) $(1,404)
                                                                
Net loss per share from continuing                               
operations:
Basic and diluted                   $(0.43) $(1.33)  $(2.14)  $(2.69)
Net income per share from                                        
discontinued operations:
Basic and diluted                   $--     $0.01      $0.02      $1.84
Total net loss per share:                                        
Basic and diluted                   $(0.43) $(1.32)  $(2.12)  $(0.85)
                                                                
Weighted-average shares used in per                              
share computation:
Basic and diluted                   1,886     1,689      1,856      1,689

CONTACT: CollabRx Contacts:
         Thomas R. Mika, Chairman and CEO
         CollabRx, Inc.
         (415) 248-5350
        
         Robert Ferri Partners, LLC
         Robert Ferri
         (415) 575-1589 (direct)
         robert.ferri@robertferri.com

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