TEL AVIV, Israel--(BUSINESS WIRE)--Tikcro Technologies Ltd. (OTC PK: TIKRF) today reported results for the third quarter and nine months ended September 30, 2011. Net loss for the third quarter was $1.0 million or $(0.11) per diluted share. Results for the third quarter included financial expenses of approximately $0.9 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 third quarter was $64,000 or $(0.01) per diluted share. Net loss for the nine months ended September 30, 2011 was $2.5 million or $(0.29) per diluted share. Results for the nine months ended September 30, 2011 included a financial expense of approximately $2.3 million from the valuation of Tikcro's holdings in BioCancell. Excluding this non-cash financial expense, net loss for the nine months ended September 30, 2011 was $207,000 or $(0.02) per diluted share.
