Tikcro Technologies Reports 2013 First Quarter Results
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. | ||||||||||||
March 31, | December 31, | |||||||||||
Assets | ||||||||||||
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. | ||||||||||
Three Months Ended | ||||||||||
2013 | 2012 | |||||||||
Unaudited | ||||||||||
Research and development expenses | $ | 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 | 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
INDUSTRY KEYWORDS:
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