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.
Tikcro Technologies Ltd.
Condensed Balance Sheets
(US dollars in thousands)
---
June 30, December 31,
2020 2019
Unaudited
Audited
Assets
Current assets
Cash, cash equivalents and short-term $
4,077 $
4,273
bank deposits
Restricted cash 83 83
Receivables and other financial asset 28 40
Total current assets 4,188 4,396
Property and equipment, net 26
Total assets $
4,188 $
4,422
Liabilities and Shareholders' Equity
Current liabilities:
Other current liabilities $
157 $
200
157 200
Shareholders' equity 4,031 4,222
Total liabilities and shareholders' $
4,188 $
4,422
equity
Tikcro Technologies Ltd.
Statements of Operations
(US dollars in thousands, except
per share data)
Three Months Ended Six Months Ended
June 30, June 30,
2020 2019 2020 2019
Research and development
$ $
128
expenses
$ $
265
General and administrative 110 141 287
expenses, net
221
---
Total operating expenses 110 269 221 552
Operating loss -110 -269 -221 -552
Financial income, net 14 21 29 33
Net loss $
-96 $
-248 $
-192 $
-519
Basic and diluted net loss per
share $
-0.01 $
-0.03
$
-0.02 $
-0.05
Weighted average number of shares
used computing basic and diluted
loss per share
9,879 9,879 9,879 9,879
===
View original content:http://www.prnewswire.com/news-releases/tikcro-technologies-reports-second-quarter-2020-results-301163684.html
SOURCE Tikcro Technologies Ltd.
