Champions Oncology Inc (NASDAQ:CSBR), a leading global technology-enabled biotech that is transforming drug discovery through innovative pharmacology, biomarker, and data platforms, stock rose 3.23% (As on Dec 14, 10:56:50 AM UTC-4, Source: Google Finance) after the company in the second quarter of FY 22 has reported 17% increase in the revenue to $11.8 million compared to $10.1 million for the second quarter of fiscal 2021. The increase in revenue was due to continued demand for the pharmacology studies and the expansion of both the platform and product lines, driving an increase in sales, both in number and size of studies. The company has delivered non-GAAP income from operations of $743,000 for the second quarter of fiscal 2022 compared to non-GAAP income from operations of $399,000 in the second quarter of fiscal 2021. Cost of oncology solutions was $5.6 million for the three-months ended October 31, 2021, a decrease of (0.6)% compared to $5.6 million for the three-months ended October 31, 2020. For the three-months ended October 31, 2021, gross margin was 52.4% compared to 44.2% for the three-months ended October 31, 2020. Total cost of sales remained flat as the company reduced the level of outsourcing required. The cost reduction more than offset the increase in compensation and lab supply expenses resulting from the increase in study volume.
Moreover, the research and development expense for the three-months ended October 31, 2021 was $2.3 million, which represents an increase of 39.3%, compared to $1.7 million for the three-months ended October 31, 2020. The increase was mainly from compensation and sequencing costs as the company increased investment in the therapeutic target discovery platform. Sales and marketing expense for the quarter was $1.6 million, an increase of 21.7%, compared to $1.3 million for the three-months ended October 31, 2020. The increase was mainly due to compensation expense driven by the continued investment to expand our salesforce, including the addition of a dedicated SaaS business development team for the Lumin Bioinformatics platform.
Additionally, the net cash generated from operating activities for the quarter was $1.2 million resulting from increased operating income excluding stock compensation and other non-cash related expenses. Net cash used in investing activities was $495,000 primarily from investment in additional lab equipment and software development. The Company ended the quarter with a strong cash position of $4.8 million. The Company has no debt.