Tikcro Technologies Reports 2013 First Quarter Results

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Tikcro Technologies Reports 2013 First Quarter Results

TEL AVIV, Israel--(BUSINESS WIRE)-- Tikcro Technologies Ltd. (OTC PK: TIKRF) today reported results for the first quarter ended March 31, 2013.

Net gain for the first quarter was $469,000, or $0.05 per diluted share. Results for the first quarter included financial income of approximately $599,000 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 first quarter was $130,000 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 the 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. 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.
Condensed Balance Sheets
(US dollars in thousands)


March 31,

December 31,

Current assets
Cash and short-term marketable securities $ 9,533 $ 9,234
Other receivables 18 31
Investment in BioCancell 465 243
Total current assets 10,016 9,508
Total assets $ 10,016 $ 9,508
Liabilities and Shareholders' Equity
Current liabilities
Other current liabilities $ 195 $ 171
Shareholders' equity 9,821 9,337
Total liabilities and shareholders' equity $ 10,016 $ 9,508

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


Three Months Ended
March 31,

2013       2012
Research and development


$ 18 $ 7
General and administrative expenses, net $ 119 $ 98
Total operating expenses 137 105
Operating loss (137) (105)
Financial Income, net 606 132
Gain before taxes 469 27
Tax expenses - (10)
Net Gain $ 469 $ 17
Basic and Diluted net gain per share $ 0.05 $ 0.00

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

8,720 8,600

Investor Relations
KCSA Strategic Communications
Jeff Corbin / Rob Fink
212-896-1214 / 1206
jcorbin@kcsa.com / rfink@kcsa.com

KEYWORDS:   United States  North America  New York


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