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 email@example.com / firstname.lastname@example.org
Tikcro Technologies Reports Fourth Quarter and Year End 2012 Results
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