Tikcro Technologies Reports Second Quarter 2020 Results

HADERA, Israel, Oct. 30, 2020 /PRNewswire/ -- Tikcro Technologies Ltd. (OTCQB: TIKRF) today reported its financial results for the second quarter ended June 30, 2020.

"We reduced our operating expenses and continue to consider businesses for a reverse merger and other corporate alternatives, said Aviv Boim, CEO of Tikcro. 

Financial Results for the Second Quarter Ended June 30, 2020

Net loss for the second quarter of 2020 was $96,000, or $0.01 per diluted share, compared to a net loss of $248,000, or $0.03 per diluted share, for the same period last year.

As of June 30, 2020, the company reported $4.2 million in cash, cash equivalents and short-term bank deposits.

Net loss for the six months ended June 30, 2020 was $192,000, or $0.02 per diluted share, compared to a net loss of $519,000, or $0.05 per diluted share, for the six months ended June 30, 2019.

About Tikcro Technologies

Tikcro Technologies Ltd. (OTCQB: TIKRF) has developed certain antibodies selected and verified in pre-clinical trials with a focus on antibodies targeting immune modulator pathways for cancer treatment. For more information, 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 sell or license the rights to our CTLA-4 antibody on reasonable terms or at all, our ability to identify an attractive business for a reverse merger and, if we do, our ability to consummate the merger on reasonable terms. Such risks and uncertainties are set forth in the Company's SEC reports, including the Company's Form 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.

SOURCE Tikcro Technologies Ltd.