On June 26, 2019 Tikcro Technologies Ltd. (OTCQB: TIKRF), a pre-clinical stage developer of antibodies for cancer immune-therapy, reported its financial results for the first quarter ended March 31, 2019 (Press release, Tikcro, JUN 26, 2019, View Source [SID1234537286]).
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"We are focused on the progress of our 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. "At recent industry events a number of biotechnology companies and clinical centers have reported results of trial for the combination treatment of PD1 or PD-L1 antibodies with a CTLA-4 antibody. Several molecule structures and a number of experimental clinical indications in oncology were presented. These development efforts aim to broaden clinical indications, increase the efficacy and reduce immune-related adverse effects of a CTLA-4 antibody treatment. CTLA-4 antibody treatment gains additional attention, however, along with increased competition. Based on pre-clinical results, our novel CTLA-4 antibody has the potential to address the needs to offer higher efficacy and lower side effects."
Several established and emerging pharma companies, including Tikcro, are pursuing new CTLA-4 antibodies to further broaden its clinical scope and to reduce immune related adverse effects.
Financial Results for the First Quarter Ended March 31, 2019
Net loss for the first quarter of 2019 was $271,000, or $0.03 per diluted share, compared to a net loss of $377,000, or $0.04 per diluted share, for the same period last year.
As of March 31, 2019, the company reported $4.95 million in cash, cash equivalents and short-term bank deposits.