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,
2012

Unaudited

December 31,
2011

Unaudited

Assets

Current assets

Cash and short-term marketable
securities

$

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'
equity

$

9,508

$

10,183

Tikcro Technologies Ltd.

Condensed Statement of Operations

(US dollars in thousands, except per share data)

Three Months Ended
December 31,

Year Ended
December 31,

2012

2011

2012

2011

Unaudited

Unaudited

Research and development
expenses

$

8

$

46

$

40

$

92

General and administrative
expenses, net

$

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
share

$

(0.02)

$

(0.05)

$

(0.08)

$

(0.34)

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

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:

The article Tikcro Technologies Reports Fourth Quarter and Year End 2012 Results originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.