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Telik Announces Financial Results for 2008 Third Quarter
Date:11/5/2008

c.

Telik, Inc.

Statements of Operations

(In thousands, except per share amounts)

(Unaudited)

Three Months Ended Nine Months Ended

September 30, September 30,

2008 2007 2008 2007

Operating costs and expenses:

Research and development $4,820 $9,387 $21,251 $34,200

General and administrative 2,822 3,661 8,008 11,292

Restructuring costs 199 - 199 1,356

Total operating costs and

expenses 7,841 13,048 29,458 46,848

Loss from operations (7,841) (13,048) (29,458) (46,848)

Interest and other income

(expense), net (168) 1,399 (1,928) 4,554

Net loss $(8,009) $(11,649) $(31,386) $(42,294)

Basic and diluted net loss per

share $(0.15) $(0.22) $(0.59) $(0.81)

Weighted average shares used to

calculate basic and diluted

net loss per share 53,241 52,574 53,139 52,491

Selected Balance Sheet Data

(In thousands)

(Unaudited)

September 30, December 31,

2008 2007

Cash, cash equivalents, investments

and restricted investments $64,631 $93,233

Total assets 68,298 98,528

Stockholders' equity 59,747 87,319


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SOURCE Telik, Inc.
Copyright©2008 PR Newswire.
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