Reports Second Quarter 2017 Financial Results
TEL AVIV, Israel I September 6, 2017 I Tikcro Technologies Ltd. (OTCQB: TIKRF) today announced it has successfully humanized its CTLA-4 blocking antibodies. The Company also reported its financial results for the second quarter ended June 30, 2017.
Aviv Boim, CEO of Tikcro, commented, “We are pleased to announce that we have achieved an additional milestone in our research plan, with the successful completion of full-humanization of our lead CTLA-4 blocking antibodies. Under commonly used in-vitro assays, we have shown the superiority of our antibodies over industry reference CTLA-4 blocking antibodies. In the upcoming months, we will focus our efforts to explore the efficacy of our lead antibodies by in-vivo animal models for cancer treatment.”
Tikcro has successfully generated full-human cytotoxic T lymphocyte-associated antigen 4 (“CTLA-4”) antibodies from animal-derived models. The antibodies show high blocking affinities towards a discontinued epitope of the CTLA-4 receptor’s interaction area with its ligands. After in-vivo animal trials expected to begin this year, the Company is planning to pursue additional pre-clinical work through 2018 to further support its regulatory applications for the commencement of clinical trials.
The market size for CTLA-4 blocking antibodies exceeds $1.0 billion per annum. Currently, the FDA approvals for the CTLA-4 blocking antibody market is limited to melanoma treatment. However, several pharma companies, including Tikcro, are pursuing new CTLA-4 antibodies to treat additional clinical cancer indications with less immune related adverse effects.
“While we are in early in-vitro stage with our CTLA-4 antibodies, as we continue to show superiority over industry reference CTLA-4 antibodies, we will have an opportunity to capture a part of this market,” concluded Mr. Boim.
Financial Results for the Second Quarter of 2017
Net loss for the second quarter of 2017 was $407,000, or $0.04 per diluted share, compared to a net loss of $332,000, or $0.03 per diluted share, for the same period last year.
As of June 30, 2017, the company held $6.9 million in cash and cash equivalents.
About Tikcro Technologies:
Tikcro Technologies Ltd. (OTCQB: TIKRF) supports early stage development in growth areas, with a focus on biotechnology projects originated in Israeli academic centers. Tikcro is engaged with development of certain antibodies selected and verified in pre-clinical trials with a focus on antibodies targeting immune modulator pathways for cancer treatment. For more information, visit Tikcro’s website at www.tikcro.com.
SOURCE: Tikcro Technologies
Post Views: 23
Reports Second Quarter 2017 Financial Results
TEL AVIV, Israel I September 6, 2017 I Tikcro Technologies Ltd. (OTCQB: TIKRF) today announced it has successfully humanized its CTLA-4 blocking antibodies. The Company also reported its financial results for the second quarter ended June 30, 2017.
Aviv Boim, CEO of Tikcro, commented, “We are pleased to announce that we have achieved an additional milestone in our research plan, with the successful completion of full-humanization of our lead CTLA-4 blocking antibodies. Under commonly used in-vitro assays, we have shown the superiority of our antibodies over industry reference CTLA-4 blocking antibodies. In the upcoming months, we will focus our efforts to explore the efficacy of our lead antibodies by in-vivo animal models for cancer treatment.”
Tikcro has successfully generated full-human cytotoxic T lymphocyte-associated antigen 4 (“CTLA-4”) antibodies from animal-derived models. The antibodies show high blocking affinities towards a discontinued epitope of the CTLA-4 receptor’s interaction area with its ligands. After in-vivo animal trials expected to begin this year, the Company is planning to pursue additional pre-clinical work through 2018 to further support its regulatory applications for the commencement of clinical trials.
The market size for CTLA-4 blocking antibodies exceeds $1.0 billion per annum. Currently, the FDA approvals for the CTLA-4 blocking antibody market is limited to melanoma treatment. However, several pharma companies, including Tikcro, are pursuing new CTLA-4 antibodies to treat additional clinical cancer indications with less immune related adverse effects.
“While we are in early in-vitro stage with our CTLA-4 antibodies, as we continue to show superiority over industry reference CTLA-4 antibodies, we will have an opportunity to capture a part of this market,” concluded Mr. Boim.
Financial Results for the Second Quarter of 2017
Net loss for the second quarter of 2017 was $407,000, or $0.04 per diluted share, compared to a net loss of $332,000, or $0.03 per diluted share, for the same period last year.
As of June 30, 2017, the company held $6.9 million in cash and cash equivalents.
About Tikcro Technologies:
Tikcro Technologies Ltd. (OTCQB: TIKRF) supports early stage development in growth areas, with a focus on biotechnology projects originated in Israeli academic centers. Tikcro is engaged with development of certain antibodies selected and verified in pre-clinical trials with a focus on antibodies targeting immune modulator pathways for cancer treatment. For more information, visit Tikcro’s website at www.tikcro.com.
SOURCE: Tikcro Technologies
Post Views: 23
