0001178913-17-002632.txt : 20170906 0001178913-17-002632.hdr.sgml : 20170906 20170906085307 ACCESSION NUMBER: 0001178913-17-002632 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170906 FILED AS OF DATE: 20170906 DATE AS OF CHANGE: 20170906 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TIKCRO TECHNOLOGIES LTD CENTRAL INDEX KEY: 0001117095 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731] IRS NUMBER: 000000000 STATE OF INCORPORATION: L3 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-30820 FILM NUMBER: 171070320 BUSINESS ADDRESS: STREET 1: 126 YIGAL ALLON STREET CITY: TEL AVIV ISRAEL STATE: L3 ZIP: 67443 BUSINESS PHONE: 972 3696 2121 MAIL ADDRESS: STREET 1: 126 YIGAL ALLON STREET CITY: TEL AVIV ISRAEL STATE: L3 ZIP: 67443 FORMER COMPANY: FORMER CONFORMED NAME: TIOGA TECHNOLOGIES LTD DATE OF NAME CHANGE: 20000623 6-K 1 zk1720531.htm 6-K


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549

FORM 6-K

Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
 
For the month of September 2017 (Report no. 1)
 
Commission File Number: 000-30820

TIKCRO TECHNOLOGIES LTD.
(Translation of registrant’s name into English)

7 Sapir Street, 5th floor, Ness Ziona 7403630 Israel
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
 
Form 20-F  ☒            Form 40-F ☐
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): N/A

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): N/A

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes    ☐        No  ☒

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- N/A
 

CONTENTS

This Report on Form 6-K of the registrant consists of the following document, which is attached hereto and incorporated by reference herein, and the first sentence of such document and the GAAP financial information contained in such document are incorporated by reference into the registrant's Registration Statement on Form S-8, Registration No. 333-212579.

Exhibit
Number
Description of Exhibit
 
99.1
Press release: Tikcro Technologies Announces Full Human CTLA-4 Blocking Antibodies; Reports Second Quarter 2017 Results, dated September 6, 2017.


 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
  TIKCRO TECHNOLOGIES LTD.  
       
By:
/s/ Aviv Boim  
    Aviv Boim  
Date: September 6, 2017   Chief Executive Officer  
       



EXHIBIT INDEX
 

EX-99.1 2 exhibit_99-1.htm EXHIBIT 99.1

 
Exhibit 99.1
 
For more information contact:
PRESS RELEASE
 
Investor Relations
Garth Russell
KCSA Strategic Communications
(212) 896-1250
grussell@kcsa.com
 

Tikcro Technologies Announces Full Human CTLA-4 Blocking Antibodies
- - -
Reports Second Quarter 2017 Financial Results
 
Tel Aviv, Israel, September 6, 2017 - Tikcro Technologies Ltd. (OTCQB: TIKRF) today announced it has successfully humanized its CTLA-4 blocking antibodies. The Company also reported its financial results for the second quarter ended June 30, 2017.
 
Aviv Boim, CEO of Tikcro, commented, “We are pleased to announce that we have achieved an additional milestone in our research plan, with the successful completion of full-humanization of our lead CTLA-4 blocking antibodies. Under commonly used in-vitro assays, we have shown the superiority of our antibodies over industry reference CTLA-4 blocking antibodies. In the upcoming months, we will focus our efforts to explore the efficacy of our lead antibodies by in-vivo animal models for cancer treatment."
 
Tikcro has successfully generated full-human cytotoxic T lymphocyte-associated antigen 4 (“CTLA-4”) antibodies from animal-derived models. The antibodies show high blocking affinities towards a discontinued epitope of the CTLA-4 receptor's interaction area with its ligands. After in-vivo animal trials expected to begin this year, the Company is planning to pursue additional pre-clinical work through 2018 to further support its regulatory applications for the commencement of clinical trials.
 
The market size for CTLA-4 blocking antibodies exceeds $1.0 billion per annum. Currently, the FDA approvals for the CTLA-4 blocking antibody market is limited to melanoma treatment. However, several pharma companies, including Tikcro, are pursuing new CTLA-4 antibodies to treat additional clinical cancer indications with less immune related adverse effects.
 
"While we are in early in-vitro stage with our CTLA-4 antibodies, as we continue to show superiority over industry reference CTLA-4 antibodies, we will have an opportunity to capture a part of this market," concluded Mr. Boim.
 
Financial Results for the Second Quarter of 2017
 
Net loss for the second quarter of 2017 was $407,000, or $0.04 per diluted share, compared to a net loss of $332,000, or $0.03 per diluted share, for the same period last year.
 
As of June 30, 2017, the company held $6.9 million in cash and cash equivalents.
 

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 engaged with development of certain antibodies selected and verified in pre-clinical trials with a focus on antibodies targeting immune modulator pathways for cancer treatment. For more information, visit Tikcro’s 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 risks related to early stage biotechnology projects, including, but not limited to, obtaining required licenses at reasonable commercial terms, the development, testing, regulatory approval and commercialization of our proposed products, 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 Form 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)

 
     June 30,
2017
   
 December 31,
2016
 
   
Unaudited
   
Audited
 
Assets
           
Current assets
           
Cash and cash equivalents
 
$
6,937
   
$
7,507
 
Receivables and other financial asset
   
93
     
89
 
     Total current assets
   
7,030
     
7,596
 
                 
    Property and equipment, net
   
119
     
136
 
                 
     Total assets
 
$
7,149
   
$
7,732
 
                 
Liabilities and Shareholders' Equity
         
                 
Current liabilities
               
Other current liabilities
 
$
263
   
$
237
 
                 
Shareholders' equity
   
6,886
     
7,495
 
                 
Total liabilities and shareholders' equity
 
$
7,149
   
$
7,732
 


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


   
Three Months Ended June 30,
   
Six Months Ended June 30
 
   
2017
   
2016
   
2017
   
2016
 
                         
Research and development expenses
 
$
214
   
$
167
   
$
386
   
$
278
 
                                 
General and administrative expenses, net
   
157
     
169
     
302
     
337
 
                                 
Total operating expenses
   
371
     
336
     
688
     
615
 
                                 
Operating loss
   
(371
)
   
(336
)
   
(688
)
   
(615
)
                                 
Financial income (expenses), net
   
(36
)
   
4
     
2
     
-
 
                                 
Net loss
 
$
(407
)
 
$
(332
)
 
$
(686
)
 
$
(615
)
                                 
Basic and diluted net loss per share
 
$
(0.04
)
 
$
(0.03
)
 
$
(0.07
)
 
$
(0.06
)
                                 
    Weighted average number of shares used computing basic and diluted loss per share
   
9,879
     
9,879
     
9,879
     
9,879