Tikcro Technologies Reports 2010 Second Quarter Results
Tel Aviv, Israel, September 7, 2010 — Tikcro Technologies Ltd. (OTC BB: TIKRF) today reported results for
the second quarter and six months ended June 30, 2010.
Net loss for the second quarter was $3.2 million or $(0.38) per diluted share. Results for the second quarter
included financial expenses of approximately $3.2 million that resulted from the valuation of Tikcro's holdings in
BioCancell Therapeutics, Inc., a clinical-stage biopharmaceutical company operating in the area of cancer
treatment. Excluding this non cash financial expense, net loss for the second quarter was $71,000 or (0.01) per
diluted share. Net loss for the six months ended June 30, 2010 was $1.3 million or $(0.15) per diluted share.
Results for the six months ended June 30, 2010 included financial expense of approximately $1.2 million from to
the valuation of Tikcro's holdings in BioCancell Therapeutics, Inc. Excluding this non cash financial expense, net
loss for six months ended June 30, 2010 was $127,000 or (0.02) per diluted share.
Tikcro holds approximately 30% of Biocancell, taking into account the conversion of a convertible note and
exercise of warrants, and approximately 22% on a fully diluted basis. Shares of Biocancell are traded on the Tel
Aviv Stock Exchange (TASE). The valuation of the holding in Biocancell is influenced, among other factors, by
the share price of Biocancell on TASE.
As of June 30, 2010, the Company had net cash and marketable securities totaling $7.4 million.
BioCancell conducts three on-going clinical trials pursuant to U.S. FDA approved protocols: phase IIb clinical
trial for the treatment of superficial bladder carcinoma cancer, phase I/IIa trial for the treatment of pancreatic
cancer, and a phase I/IIa clinical trial for the treatment of ovarian cancer. The leading drug BC-819, used in these
clinical trials is a double stranded DNA plasmid construct that incorporates the gene for diphtheria