Tikcro Technologies today reported its financial results for the third quarter ended September 30, 2017.
In-progress of Pre Clinical Trials of Full-Human CTLA-4 Antibodies |
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NESS-ZIONA, Israel, Dec. 15, 2017 /PRNewswire/ -- Tikcro Technologies (OTCQB: TIKRF), a supporter of early stage development of biotechnology projects and antibodies, today reported its financial results for the third quarter ended September 30, 2017. Aviv Boim, CEO of Tikcro, commented, "We promote a full human cytotoxic T lymphocyte-associated antigen 4 ("CTLA-4") blocking antibody for small animal efficacy models for cancer treatment. This antibody has shown high blocking affinities towards a discontinued epitope of the CTLA-4 receptor's interaction area with its ligands. Currently, we are in-progress of supporting pre-clinical in-vivo animal trials of this full human CTLA-4 antibody. Further, we plan to pursue additional pre-clinical work through 2018 to support regulatory applications for the commencement of clinical trials." The CTLA-4 blocking antibody approved market is for the treatment of melanoma. The market size for CTLA-4 blocking antibodies exceeds $1 billion per annum. Several pharma companies, including Tikcro, are pursuing new CTLA-4 antibodies to treat additional clinical cancer indications and to reduce its immune related adverse effects. "We showed in-vitro superiority over industry reference CTLA-4 antibodies, and pursue animal trials for cancer treatment. If successful, we should be in a position to further promote this antibody to be part of this market," concluded Mr. Boim. Financial Results for the Third Quarter Ended September 30, 2017 Net loss for the third quarter of 2017 was $288,000, or $0.03 per diluted share, compared to a net loss of $325,000, or $0.03 per diluted share, for the same period last year. As of September 30, 2017, the Company had a cash and cash equivalents balance of $6.7 million. About Tikcro Technologies Safe Harbor Statement Tikcro Technologies Ltd.
Condensed Balance Sheets
(US dollars in thousands)
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September 30, December 31,
2017 2016
Unaudited Audited
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Assets
Current assets
Cash and cash equivalents $6,735 $7,507
Receivables and other financial asset 110 89
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Total current assets 6,845 7,596
Property and equipment, net 129 136
Total assets $6,974 $7,732
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Liabilities and Shareholders' Equity
Current liabilities
Other current liabilities $337 $237
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Shareholders' equity 6,637 7,495
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Total liabilities and shareholders' $6,974 $7,732
equity
Tikcro Technologies Ltd.
Statements of Operations
(US dollars in thousands, except per share data)
Three Months Ended Nine Months Ended
September 30, September 30
2017 2016 2017 2016
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Research and development $147 $160
expenses $533 $438
General and administrative 145 163
expenses, net
447 500
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Total operating expenses 292 323 980 938
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Operating loss (292) (323) (980) (938)
Financial income (expenses), net 4 (2) 6 (2)
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Net loss $(288) $(325) $(974) $(940)
Basic and diluted net loss per share $(0.03) $(0.03)
$(0.10) $(0.10)
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Weighted average number of 9,879 9,879
shares used computing basic and
diluted loss per share
9,879 9,879
View original content:http://www.prnewswire.com/news-releases/tikcro-technologies-reports-third-quarter-2017-results-300572031.html SOURCE Tikcro Technologies Ltd. |
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Company Codes: OTC-BB:TIKRF, OTC-PINK:TIKRF, OTC-QB:TIKRF |
