EX-99.1 2 exhibit_99-1.htm EXHIBIT 99.1 exhibit_99-1.htm


Exhibit 99.1
 
 
For more information contact:
PRESS RELEASE
 
Investor Relations
Jeff Corbin / Christopher Harrison
KCSA Strategic Communications
(212) 896-1214 / 1267
jcorbin@kcsa.com / charrison@kcsa.com
 
 
Tikcro Technologies Reports First Quarter 2015 Results
 
Tel Aviv, Israel, May 27, 2015 - Tikcro Technologies Ltd. (OTCQB: TIKRF) today reported results for the first quarter ended March 31, 2015.
 
Aviv Boim, CEO of Tikcro commented, “In the quarter, we continued pre-clinical work to generate functional specific antibodies, targeting identified cancer immune checkpoints. While still in an early stage, we are encouraged by the development progress. We are excited to invest efforts in this field as new antibodies which modulate immune checkpoints gain clinical acceptance for cancer treatment.”
 
Net loss for the first quarter was $191,000, or $0.02 per diluted share.
 
About Tikcro Technologies:
 
Tikcro Technologies Ltd. (OTCQB: TIKRF) supports early stage development in growth areas, with a focus on biotechnology projects originated in Israeli academic centers. Tikcro is currently engaged with development of certain antibodies selected and verified in pre-clinical trials with a focus on antibodies binding to cancer immune checkpoints. Investors can find real-time quotes and market information on www.otcmarkets.com.

For more information about Tikcro, visit 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 risks related to early stage biotechnology projects, including, but not limited to, the development, testing, regulatory approval and commercialization, intellectual property rights, competition, exposure to lawsuits and 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)
 

 
   
March 31, 
2015
   
December 31, 
2014
 
   
Unaudited
   
Audited
 
Assets
           
Current assets
           
Cash and cash equivalents
  $ 8,539     $ 8,722  
Other receivables
    63       25  
Investment in BioCancell
    57       85  
     Total current assets
    8,659       8,832  
                 
    Property and equipment, net
    76       88  
                 
     Total assets
  $ 8,735     $ 8,920  
                 
Liabilities and Shareholders' Equity
       
         
Current liabilities
               
Other current liabilities
  $ 187     $ 184  
                 
Shareholders' equity
    8,548       8,736  
                 
Total liabilities and shareholders' equity
  $ 8,735     $ 8,920  

 
 

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

 
   
Three Months Ended 
March 31,
 
   
2015
   
2014
 
             
Research and development expenses
  $ 50     $ 13  
                 
General and administrative expenses, net
    114       105  
                 
Total operating expenses
    164       118  
                 
Operating loss
    (164 )     (118 )
                 
Financial income (expenses), net
    (27 )     76  
                 
Net loss
  $ (191 )   $ (42 )
                 
Basic and diluted net loss per share
  $ (0.02 )   $ (0.00 )
                 
Weighted average number of shares used computing basic and diluted loss per share
    8,838       8,817