TEL AVIV, Israel, Nov. 13, 2014 /PRNewswire/ -- Tikcro Technologies Ltd. (OTC PK: TIKRF) today reported results for the third quarter ended September 30, 2014.
Net loss for the third quarter was $254,000, or $0.03 per diluted share. Results for the third quarter included financial expense of approximately $122,000 that resulted from the valuation of Tikcro’s holdings in BioCancell Ltd., a clinical stage cancer drug company. Excluding this non-cash financial expense, net loss for the third quarter was $132,000 or $0.01 per diluted share.
Tikcro supports early stage development in growth areas, with a focus on biotechnology, having projects in several fields originated by researchers from Israeli universities.
About Tikcro Technologies:
Tikcro is seeking early stage growth opportunities.
For more information, visit Tikcro 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. | |||||||||||
September 30, Unaudited | December 31, Audited | ||||||||||
Assets | |||||||||||
Current assets | |||||||||||
Cash and cash equivalents | $ | 8,915 | $ | 9,120 | |||||||
Other receivables | 3 | 14 | |||||||||
Investment in BioCancell | 258 | 397 | |||||||||
Total current assets | 9,176 | 9,531 | |||||||||
Total assets | $ | 9,176 | $ | 9,531 | |||||||
Liabilities and Shareholders’ Equity | |||||||||||
Current liabilities | |||||||||||
Other current liabilities | $ | 147 | $ | 128 | |||||||
Shareholders’ equity | 9,029 | 9,403 | |||||||||
Total liabilities and shareholders’ equity | $ | 9,176 | $ | 9,531 | |||||||
Tikcro Technologies Ltd. | |||||||||
Three Months Ended | Nine Months Ended | ||||||||
2014 | 2013 | 2014 | 2013 | ||||||
Research and development expenses | $ | 50 | $ | 5 |
$ |
72 |
$ |
23 | |
General and administrative expenses, net | $ | 82 | $ | 199 |
$ |
247 |
$ |
425 | |
Total operating expenses | 132 | 204 | 319 | 448 | |||||
Operating loss | (132) | (204) | (319) | (448) | |||||
Financial income (expenses), net | (122) | 590 | (69) | 892 | |||||
Net Gain (loss) | $ | (254) | $ | 386 | $ | (388) | $ | 444 | |
Basic and diluted net gain (loss) | $ | (0.03) | $ | 0.04 | $ | (0.04) | $ | 0.05 | |
Weighted average number of | 8,837 | 8,776 | 8,824 | 8,734 | |||||
For more information contact: |
Investor Relations Jeff Corbin / Christopher Harrison KCSA Strategic Communications (212) 896-1214 / 1267 |
SOURCE Tikcro Technologies Ltd.
Help employers find you! Check out all the jobs and post your resume.
