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Telik Announces First Quarter 2013 Financial Results
Date:5/10/2013

160; The increase was the result of raising approximately $3.6 million in net proceeds through its At Market Issuance Sales Agreement in the first two months of 2013.  The company will have to raise additional funds through corporate partnering, or through equity or debt financings in order to fund its registration trial and to meet its cash requirements beyond 2013.  There is no assurance Telik will be successful in obtaining additional funding.

About Telik

Telik, Inc. of Palo Alto, CA, is a clinical stage drug development company focused on discovering and developing small molecule drugs to treat cancer. The company's most advanced drug candidate is TELINTRA, a modified glutathione analog intended for the treatment of hematologic disorders including myelodysplastic syndrome; followed by TELCYTA®, a cancer activated prodrug for the treatment of a variety of cancers. Telik's product candidates were discovered using its proprietary drug discovery technology, TRAP®, which enables the rapid and efficient discovery of small molecule drug candidates.  Additional information is available at www.telik.com.

This press release contains "forward-looking" statements, including statements regarding the anticipated net cash utilization and operating expenses, and future development of TELINTRA.  These forward-looking statements are based upon Telik's current expectations.  There are important factors that could cause Telik's results to differ materially from those indicated by these forward-looking statements, including, among others, that Telik would be unable to continue to fund its operations if it is unable to raise adequate funding; if the development of its drug candidates is delayed or unsuccessful, if Telik does not enter into collaborative arrangements to advance its programs, the rate of product development will be delayed and exp
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