Tikcro Technologies Reports Fourth Quarter and Year End 2012 Results

  Tikcro Technologies Reports Fourth Quarter and Year End 2012 Results

Business Wire

TEL AVIV, Israel -- March 5, 2013

Tikcro Technologies Ltd. (OTC PK: TIKRF) today reported results for the fourth
quarter and fiscal year ended December 31, 2012.

Net loss for the fourth quarter was $143,000, or $0.02 per diluted share. Net
loss for the full year ended December 31, 2012 was $694,000, or $0.08 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 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 including, but not limited to,
risks related to our ability to raise financing and the business of
BioCancell, including, but not limited to, the development, testing,
regulatory approval and commercialization of its products, its intellectual
property rights, its funding, its competition, its exposure to lawsuits and
its 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)
                                      
                                          December 31,   December 31,
                                          2012           2011

                                          Unaudited      Unaudited
  Assets
    Current assets
    Cash and short-term marketable        $     9,234    $   6,985
    securities
    Other receivables                     31             165
    Investment in BioCancell              243            3,033
    Total current assets                  9,508          10,183
                                                         
                                                         
    Total assets                          $     9,508    $   10,183
                                                         
  Liabilities and Shareholders' Equity
                                                         
    Current liabilities                   
    Other current liabilities             $   273        $   302
                                                         
    Shareholders' equity                  9,235          9,881
                                                         
    Total liabilities and shareholders'   $   9,508      $   10,183
    equity

                                                              
Tikcro Technologies Ltd.

Condensed Statement of Operations

(US dollars in thousands, except per share data)
                                                                   
                                                                   
                                   Three Months Ended     Year Ended
                                   December 31,           December 31,
                                   2012      2011       2012     2011
                                   Unaudited              Unaudited
Research and development
expenses                         $ 8         $ 46       $ 40       $ 92


                                                                     
General and administrative       $ 130       $ 92       $ 387      $ 465
expenses, net
                                                                     
Total operating expenses           138         138        427        557
                                                                     
Operating loss                     (138)       (138)      (427)      (557)
                                                                     
Financial expenses, net            (5)         (303)      (158)      (2,303)
                                                                     
Loss before taxes                  (143)       (441)      (585)      (2,860)
Tax expenses                       -           (14)       (109)      54
                                                                     
Net loss                         $ (143)     $ (455)    $ (694)    $ (2,914)
                                                                     
Basic and Diluted net loss per   $ (0.02)    $ (0.05)   $ (0.08)   $ (0.34)
share
                                                                     
Weighted average number of
shares used in computing basic     8,692       8,581      8,649      8,562
and diluted loss per share

Contact:

KCSA Strategic Communications
Investor Relations
Jeff Corbin / Rob Fink
212-896-1214 / 1206
jcorbin@kcsa.com / rfink@kcsa.com
 
Press spacebar to pause and continue. Press esc to stop.