Tikcro Technologies Reports Second Quarter 2015 Results

Jul 14, 2015, 11:31 ET from Tikcro Technologies Ltd.

TEL AVIV, Israel, July 14, 2015 /PRNewswire/ -- Tikcro Technologies Ltd. (OTCQB: TIKRF) today reported results for the second quarter ended June 30, 2015.

Aviv Boim, CEO of Tikcro, commented, "In the quarter, we continued pre-clinical efforts to generate functional specific antibodies, with a focus on CTLA-4 and PD1 cancer checkpoints. These are validated targets for cancer immunotherapy treatment. By year-end, we expect to validate such new antibodies for immunotherapy treatment, and to have initial comparative data with other available antibodies. With encouraging interim development results, we plan to invest efforts in targeting additional inhibitory checkpoints."

Net loss for the second quarter of 2015 was $267,000, or $0.03 per diluted share.

About Tikcro Technologies:

Tikcro Technologies Ltd. (OTCQB: TIKRF) supports early stage development in growth areas, with a focus on biotechnology projects originated in Israeli academic centers. Tikcro is currently engaged with development of certain antibodies selected and verified in pre-clinical trials with a focus on antibodies binding to cancer immune checkpoints CTLA-4 and PD1. For more information about Tikcro, visit Tikcro's website at www.tikcro.com.

Safe Harbor Statement

Certain of the statements contained herein may be considered forward-looking statements that involve risks and uncertainties including, but not limited to, risks related to our ability to raise financing and the risks related to early stage biotechnology projects, including, but not limited to, obtaining required licenses at reasonable commercial terms, the development, testing, regulatory approval and commercialization,intellectual property rights, competition,exposure to lawsuits and dependence on key suppliers and personnel. Such risks and uncertainties are set forth in the Company's SEC reports, including the Company's Forms 20-F. Actual results may materially differ. Results of operations in any past period should not be considered indicative of the results to be expected for future periods.  We undertake no duty to update any forward-looking information.


Tikcro Technologies Ltd.

 Condensed Balance Sheets

(US dollars in thousands)











June 30,
  2015

Unaudited


December 31, 
2014

Audited



Assets







Current assets







Cash and cash equivalents

$

8,416


$

8,722




Other receivables

20


25




Investment in BioCancell

51


85




     Total current assets

8,487


8,832











    Property and equipment, net

64


88











     Total assets

$

8,551


$

8,920










Liabilities and Shareholders' Equity









Current liabilities







Other current liabilities

$

231


$

184











Shareholders' equity

8,320


8,736











Total liabilities and shareholders' equity

$

8,551


$

8,920















 


Tikcro Technologies Ltd.
Statements of Operations
(US dollars in thousands, except per share data)





Three Months Ended 
June   30, 


Six Months Ended 
June   30




2015


2014


2015


2014



Research and development

expenses

$

69

$

9

 

$

 

119

 

$

 

22










General and administrative expenses, net


193


60


 

307


 

165










Total operating expenses


118


69


426


187










Operating loss


(262)


(69)


(426)


(187)










Financial income (expenses), net


(5)


(23)


(32)


53










Net loss

$

(267)

$

(92)

$

(458)

$

(134)










Basic and diluted net loss per share

$

(0.03)

$

(0.01)

$

(0.05)

$

(0.02)










Weighted average number of
shares used computing basic
and diluted loss per share


8,848


8,837


8,843


8,827

 

SOURCE Tikcro Technologies Ltd.



RELATED LINKS

http://www.tikcro.com