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Telik Announces Fourth Quarter and 2007 Year End Financial Results and 2008 Guidance
Date:2/27/2008

cember 31, December 31,

2007 2006 2007 2006

Operating costs and expenses:

Research and development $8,832 $16,341 $43,032 $71,522

General and administrative 4,649 3,156 15,941 16,288

Restructuring costs - - 1,356 -

Total operating costs and

expenses 13,481 19,497 60,329 87,810

Loss from operations (13,481) (19,497) (60,329) (87,810)

Interest income, net 560 1,922 5,114 8,186

Net loss $(12,921) $(17,575) $(55,215) $(79,624)

Basic and diluted net loss per

share $(0.25) $(0.34) $(1.05) $(1.52)

Weighted average shares used to

calculate basic

and diluted net loss per share 52,693 52,362 52,542 52,271

Selected Balance Sheet Data

(in thousands)

(Unaudited)

December 31,

2007 2006

Cash, cash equivalents, investments

and restricted investments $93,233 $141,665

Total assets 98,528 149,214

Stockholders' equity 87,319 132,622


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SOURCE Telik, Inc.
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