TEL AVIV, Israel--(BUSINESS WIRE)--Tikcro Technologies Ltd. (OTC PK: TIKRF) today reported results for the fourth quarter and year ended December 31, 2011.
Net loss for the fourth quarter was $0.3 million or $(0.04) per diluted share. Results for the fourth quarter included financial expenses of approximately $0.25 million that resulted from the valuation of Tikcro’s holdings in BioCancell Therapeutics, Inc., a clinical-stage biopharmaceutical company operating in the area of cancer treatment. Excluding this non-cash financial expense, net loss for the fourth quarter was $53,000 or $(0.01) per diluted share. Net loss for year ended December 31, 2011 was $2.8 million or $(0.32) per diluted share. Results for year ended December 31, 2011 included a financial expense of approximately $2.5 million from the valuation of Tikcro’s holdings in BioCancell. Excluding this non-cash financial expense, net loss for the year ended December 31, 2011 was $260,000 or $(0.03) per diluted share.
