On October 7, 2019 Tikcro Technologies Ltd. (OTCQB: TIKRF), a pre-clinical stage developer of antibodies for cancer immune-therapy, reported its financial results for the second quarter ended June 30, 2019 (Press release, Tikcro, OCT 7, 2019, View Source [SID1234540096]).
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"We continue to pursue the development of a new cytotoxic T lymphocyte-associated antigen 4 (CTLA-4) antibody, which has shown strong comparative results in pre-clinical cancer treatment assays," said Aviv Boim, CEO of Tikcro. "The need to have a more effective CTLA-4 antibody is supported by results from early phase clinical trials in additional cancer indications. Results show objective response rates of the combination treatment of a PD-1 antibody with a mid-dose of a CTLA-4 antibody. Our development efforts aim to increase the efficacy of a CTLA-4 treatment and to broaden its approved indications. However, as CTLA-4 antibody treatment continues to gain attention, there is also increased competition involved. Based on pre-clinical results, our new CTLA-4 antibody has the potential to offer improved efficacy."
Several established and emerging pharma companies, including Tikcro, are pursuing new CTLA-4 antibodies to further broaden its clinical scope.
Financial Results for the Second Quarter Ended June 30, 2019
Net loss for the second quarter of 2019 was $248,000, or $0.03 per diluted share, compared to a net loss of $341,000, or $0.03 per diluted share, for the same period last year.
As of June 30, 2019, the company reported $4.68 million in cash, cash equivalents and short-term bank deposits.