Tikcro Technologies Reports Fourth Quarter and Year End 2012 Results
Tikcro Technologies Reports Fourth Quarter and Year End 2012 Results
TEL AVIV, Israel--(BUSINESS WIRE)-- Tikcro Technologies Ltd. (OTC PK: TIKRF) today reported results for the fourth quarter and fiscal year ended December 31, 2012.
Net loss for the fourth quarter was $143,000, or $0.02 per diluted share. Net loss for the full year ended December 31, 2012 was $694,000, or $0.08 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 business of BioCancell, including, but not limited to, the development, testing, regulatory approval and commercialization of its products, its intellectual property rights, its funding, its competition, its exposure to lawsuits and its 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. Condensed Balance Sheets (US dollars in thousands) | ||||||||||
December 31, Unaudited | December 31, Unaudited | |||||||||
Assets | ||||||||||
Current assets | ||||||||||
Cash and short-term marketable | $ | 9,234 | $ | 6,985 | ||||||
Other receivables | 31 | 165 | ||||||||
Investment in BioCancell | 243 | 3,033 | ||||||||
Total current assets | 9,508 | 10,183 | ||||||||
Total assets | $ | 9,508 | $ | 10,183 | ||||||
Liabilities and Shareholders' Equity | ||||||||||
Current liabilities | ||||||||||
Other current liabilities | $ | 273 | $ | 302 | ||||||
Shareholders' equity | 9,235 | 9,881 | ||||||||
Total liabilities and shareholders' | $ | 9,508 | $ | 10,183 | ||||||
Tikcro Technologies Ltd. Condensed Statement of Operations (US dollars in thousands, except per share data) | |||||||||||||
Three Months Ended | Year Ended | ||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||
Unaudited | Unaudited | ||||||||||||
Research and development | $ | 8 | $ | 46 | $ | 40 | $ | 92 | |||||
General and administrative | $ | 130 | $ | 92 | $ | 387 | $ | 465 | |||||
Total operating expenses | 138 | 138 | 427 | 557 | |||||||||
Operating loss | (138) | (138) | (427) | (557) | |||||||||
Financial expenses, net | (5) | (303) | (158) | (2,303) | |||||||||
Loss before taxes | (143) | (441) | (585) | (2,860) | |||||||||
Tax expenses | - | (14) | (109) | 54 | |||||||||
Net loss | $ | (143) | $ | (455) | $ | (694) | $ | (2,914) | |||||
Basic and Diluted net loss per | $ | (0.02) | $ | (0.05) | $ | (0.08) | $ | (0.34) | |||||
Weighted average number of | 8,692 | 8,581 | 8,649 | 8,562 | |||||||||
KCSA Strategic Communications
Investor Relations
Jeff Corbin / Rob Fink
212-896-1214 / 1206
jcorbin@kcsa.com/rfink@kcsa.com
KEYWORDS: Middle East Israel
INDUSTRY KEYWORDS:
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