Tikcro Technologies Reports First Quarter 2015 Results
TEL AVIV, Israel, May 27, 2015 /PRNewswire/ -- Tikcro Technologies Ltd. (OTCQB: TIKRF) today reported results for the first quarter ended March 31, 2015.
Aviv Boim, CEO of Tikcro commented, "In the quarter, we continued pre-clinical work to generate functional specific antibodies, targeting identified cancer immune checkpoints. While still in an early stage, we are encouraged by the development progress. We are excited to invest efforts in this field as new antibodies which modulate immune checkpoints gain clinical acceptance for cancer treatment."
Net loss for the first quarter was $191,000, or $0.02 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. The Company 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. Investors can find real-time quotes and market information on www.otcmarkets.com.
For more information about the Company, 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, 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 |
||||||||||||
| March 31, Unaudited |
December 31, Audited |
|||||||||||
| Assets |
||||||||||||
| Current assets |
||||||||||||
| Cash and cash equivalents |
$ |
8,539 |
$ |
8,722 |
||||||||
| Other receivables |
63 |
25 |
||||||||||
| Investment in BioCancell |
57 |
85 |
||||||||||
| Total current assets |
8,659 |
8,832 |
||||||||||
| Property and equipment, net |
76 |
88 |
||||||||||
| Total assets |
$ |
8,735 |
$ |
8,920 |
||||||||
| Liabilities and Shareholders' Equity |
||||||||||||
| Current liabilities |
||||||||||||
| Other current liabilities |
$ |
187 |
$ |
184 |
||||||||
| Shareholders' equity |
8,548 |
8,736 |
||||||||||
| Total liabilities and shareholders' equity |
$ |
8,735 |
$ |
8,920 |
||||||||
| Tikcro Technologies Ltd. |
||||||
| Three Months Ended |
||||||
| 2015 |
2014 |
|||||
| Research and development expenses |
$ |
50 |
$ |
13 |
||
| General and administrative expenses, net |
114 |
105 |
||||
| Total operating expenses |
164 |
118 |
||||
| Operating loss |
(164) |
(118) |
||||
| Financial income (expenses), net |
(27) |
76 |
||||
| Net loss |
$ |
(191) |
$ |
(42) |
||
| Basic and diluted net loss per share |
$ |
(0.02) |
$ |
(0.00) |
||
| Weighted average number of shares used |
8,838 |
8,817 |
||||
SOURCE Tikcro Technologies Ltd.
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