0001178913-18-000754.txt : 20180305 0001178913-18-000754.hdr.sgml : 20180305 20180305101337 ACCESSION NUMBER: 0001178913-18-000754 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20180305 FILED AS OF DATE: 20180305 DATE AS OF CHANGE: 20180305 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: 18664659 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 zk1821326.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 March 2018 (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 GAAP financial information contained in such document is 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 Reports Fourth Quarter and Year End 2017 Results, dated March 5, 2018.



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  
Date: March 5, 2018   Chief Executive Officer  


EXHIBIT INDEX
 
Exhibit Number
Description of Exhibit
   


EX-99.1 2 exhibit_99-1.htm EXHIBIT 99.1

 
Exhibit 99.1

Tikcro Technologies Reports Fourth Quarter and Year End
 2017 Results
--
Strong Results in Animal Trial of Full-Human CTLA-4 Antibody
--
 
Ness-Ziona, Israel, March 5, 2018 - Tikcro Technologies Ltd. (OTCQB: TIKRF), a pre-clinical stage developer of antibodies for cancer immune-therapy, today reported its financial results for the fourth quarter and full year ended December 31, 2017.

Aviv Boim, CEO of Tikcro, commented, “We continue to promote a full human cytotoxic T lymphocyte-associated antigen 4 (“CTLA-4”) blocking antibody, currently in small animal efficacy models for cancer treatment. This antibody shows strong results in cancer inhibition animal models. Further, we plan to pursue additional pre-clinical work through 2018 to support regulatory applications for the commencement of clinical trials."

The CTLA-4 blocking antibody approved market is for the treatment of melanoma. The market size for CTLA-4 blocking antibodies exceeds $1 billion per annum. Several pharma companies, including Tikcro, are pursuing new CTLA-4 antibodies to broaden its clinical scope and to reduce its immune related adverse effects.

Financial Results for the Fourth Quarter Ended December 31, 2017
Net loss for the fourth quarter of 2017 was $277,000, or $0.03 per diluted share, compared to a net loss of $340,000, or $0.03 per diluted share, for the same period last year.

Financial Results for the Year Ended December 31, 2017
Net loss for the year ended December 31, 2017 was $1,251,000, or $0.13 per diluted share, compared to a net loss of $1,280,000, or $0.13 per diluted share, for the year ended December 31, 2016.

As of December 31, 2017, the Company had a cash and cash equivalents balance of $6.6 million.

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.

For more information, please contact:

Investor Contact
Allison Soss
KCSA Strategic Communications
Phone: 212-896-1267
Email: asoss@kcsa.com

 
Tikcro Technologies Ltd.
Condensed Balance Sheets
(US dollars in thousands)
 
    December 31,     December 31,  
    2017     2016  
   
Unaudited
   
Audited
 
Assets
           
Current assets
           
Cash and cash equivalents
 
$
6,562
   
$
7,507
 
Receivables and other financial asset
   
21
     
89
 
     Total current assets
   
6,583
     
7,596
 
                 
    Property and equipment, net
   
125
     
136
 
                 
     Total assets
 
$
6,708
   
$
7,732
 
                 
Liabilities and Shareholders' Equity
         
                 
Current liabilities
               
Other current liabilities
 
$
309
   
$
237
 
                 
Shareholders' equity
   
6,399
     
7,495
 
                 
Total liabilities and shareholders' equity
 
$
6,708
   
$
7,732
 


Tikcro Technologies Ltd.
Statements of Operations
(US dollars in thousands, except per share data)
 
   
Three Months Ended December 31
   
Year Ended December 31
 
   
2017
   
2016
   
2017
   
2016
 
                         
Research and development expenses
 
$
145
   
$
163
   
$
678
   
$
601
 
                                 
General and administrative expenses, net
   
171
     
176
     
618
     
676
 
                                 
Total operating expenses
   
316
     
339
     
1,296
     
1,277
 
                                 
Operating loss
   
(316
)
   
(339
)
   
(1,296
)
   
(1,277
)
                                 
Financial income (expenses), net
   
39
     
(1
)
   
45
     
(3
)
                                 
Net loss
 
$
(277
)
 
$
(340
)
 
$
(1,251
)
 
$
(1,280
)
                                 
Basic and diluted net loss per share
 
$
(0.03
)
 
$
(0.03
)
 
$
(0.13
)
 
$
(0.13
)
                                 
Weighted average number of shares used computing basic and diluted loss per share
   
9,879
     
9,879
     
9,879
     
9,879