On November 21, 2019 Tikcro Technologies Ltd. (OTCQB: TIKRF), a pre-clinical stage developer of antibodies for cancer immune-therapy, reported its financial results for the third quarter ended September 30, 2019 (Press release, Tikcro, NOV 21, 2019, View Source [SID1234551603]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"We have concluded the pre-clinical development stage of our anti-CTLA-4 antibody, which shows strong comparative results in cancer treatment assays," said Aviv Boim, CEO of Tikcro. "At this stage, we plan to reduce operating expenses. We expect to close our lab facilities and cease pre-clinical development efforts, which incurred $546,000 of R&D expenses in the previous twelve-month period. Due to the significant costs associated with production and clinical trials as well as the evolution of the immune therapy antibody market, we will continue to explore strategic opportunities for this antibody program and other alternatives."

Financial Results for the Third Quarter Ended September 30, 2019
Net loss for the third quarter of 2019 was $237,000, or $0.02 per diluted share, compared to a net loss of $266,000, or $0.03 per diluted share, for the same period last year.

As of September 30, 2019, the company reported $4.45 million in cash, cash equivalents and short-term bank deposits.