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Tikcro Technologies Reports Second Quarter 2020 Resultsby Tikcro Technologies Ltd [TIKRF:QBB]

HADERA, Israel, Oct. 30, 2020 /PRNewswire/ — Tikcro Technologies Ltd. (OTCQB: TIKRF) today reported its financial results for the second quarter ended June 30, 2020.

“We reduced our operating expenses and continue to consider businesses for a reverse merger and other corporate alternatives, said Aviv Boim, CEO of Tikcro. 

Financial Results for the Second Quarter Ended June 30, 2020

Net loss for the second quarter of 2020 was $96,000, or $0.01 per diluted share, compared to a net loss of $248,000, or $0.03 per diluted share, for the same period last year.

As of June 30, 2020, the company reported $4.2 million in cash, cash equivalents and short-term bank deposits.

Net loss for the six months ended June 30, 2020 was $192,000, or $0.02 per diluted share, compared to a net loss of $519,000, or $0.05 per diluted share, for the six months ended June 30, 2019.

About Tikcro Technologies

Tikcro Technologies Ltd. (OTCQB: TIKRF) has developed 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 sell or license the rights to our CTLA-4 antibody on reasonable terms or at all, our ability to identify an attractive business for a reverse merger and, if we do, our ability to consummate the merger on reasonable terms. 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

2020

Unaudited





December 31,

2019



Audited






Assets














Current assets













Cash, cash equivalents and short-term

  bank deposits

$

4,077



$

4,273







Restricted cash



83





83







Receivables and other financial asset

28



40








     Total current assets


4,188




4,396






















Property and equipment, net



26


























     Total assets


$


4,188




$


4,422




















Liabilities and Shareholders’ Equity


















Current liabilities:













Other current liabilities

$

157



$

200
























157




200






















Shareholders’ equity


4,031




4,222






















Total liabilities and shareholders’

equity


$


4,188




$


4,422



























Tikcro Technologies Ltd.


Statements of Operations


(US dollars in thousands, except per share data)









Three Months Ended 




Six Months Ended 



June 30,  


  June 30,  






2020




2019




2020




2019




















  Research and development 

$

$

128










  expenses

$

$

265




















  General and administrative

  expenses, net



110



141







287

221




















  Total operating expenses



110



269



221



552




















  Operating loss



-110



-269



-221



-552






















  Financial income, net



14



21



29



33






















  Net loss


$


-96


$


-248


$


-192


$


-519




















  Basic and diluted net loss per share


$


-0.01


$


-0.03










$


-0.02


$


-0.05
























Weighted average number of shares

used computing basic and diluted

loss per share



















9,879

9,879

9,879

9,879



Cision View original content:http://www.prnewswire.com/news-releases/tikcro-technologies-reports-second-quarter-2020-results-301163684.html

SOURCE Tikcro Technologies Ltd.

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