Tikcro Technologies Reports Third Quarter 2020 Results

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Tikcro Technologies Reports Third Quarter 2020 Results

PR Newswire

HADERA, Israel, Jan. 14, 2021 /PRNewswire/ -- Tikcro Technologies Ltd. (OTCQB: TIKRF), today reported its financial results for the third quarter ended September 30, 2020.

"We continue to consider businesses for a reverse merger and other corporate alternatives," said Aviv Boim, CEO of Tikcro.

Financial Results for the Third Quarter Ended September 30, 2020

Net loss for the second quarter of 2020 was $132,000, or $0.01 per diluted share, compared to a net loss of $237,000, or $0.02 per diluted share, for the same period last year.

As of September 30, 2020, the company reported $4.0 million in cash, cash equivalents and short-term bank deposits.

Net loss for the nine months ended September 30, 2020 was $324,000, or $0.03 per diluted share, compared to a net loss of $756,000, or $0.08 per diluted share, for the nine months ended September 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)











September 30, 
2020

Unaudited


December 31,
2019

Audited



Assets







Current assets







Cash, cash equivalents and short-term bank deposits

$

3,920


$

4,273




Restricted cash


83



83




Receivables and other financial asset

65


40




     Total current assets

4,068


4,396











Property and equipment, net

-


26













     Total assets

$

4,068


$

4,422










Liabilities and Shareholders' Equity









Current liabilities:







Other current liabilities

$

169


$

200












169


200











Shareholders' equity

3,899


4,222











Total liabilities and shareholders' equity

$

4,068


$

4,422













 

 


Tikcro Technologies Ltd.
Statements of Operations
(US dollars in thousands, except per share data)



































Three Months Ended 
September 30, 


Nine Months Ended 
   September  30, 





2020


2019


2020


2019












Research and development

expenses

$

-

$

117

 

$

 

-

 

$

 

382












General and administrative expenses, net


130


146


 

351


 

433












Total operating expenses


130


263


351


815












Operating loss


(130)


(263)


(351)


(815)












Financial income (expenses), net


(2)


26


27


59












Net loss

$

(132)

$

(237)

$

(324)

$

(756)












Basic and diluted net loss per share

$

(0.01)

$

(0.02)

 

$

 

(0.03)

 

$

 

(0.08)












Weighted average number of shares
used computing basic and diluted
loss per share


9,879


9,879


9,879


9,879

Cision View original content:http://www.prnewswire.com/news-releases/tikcro-technologies-reports-third-quarter-2020-results-301208677.html

SOURCE Tikcro Technologies Ltd.

Copyright CNW Group 2021

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