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Telik Announces Fourth Quarter And 2012 Year End Financial Results And 2013 Financial Guidance
Date:3/15/2013

itemprop="name">Roger M. Lyons , MD; et al.  Available online at Blood (ASH 54th Annual Meeting Abstracts) 2012 120: Abstract 4394. This abstract reports the preliminary results of a clinical trial of Telintra for the treatment of patients with idiopathic chronic neutropenia (ICN),  a rare group of blood disorders characterized by low circulating white cells, recurrent fevers, inflammation and serious infections.  Telintra treatment of ICN patients with very low white blood cell levels who were not responsive to G‑CSF led to clinically significant reductions in serious infections.  Telintra is the first targeted GSTP1-1 inhibitor that has been shown to have a positive effect on white blood cell levels in ICN and may provide molecular insight into the pathophysiology of ICN.

In 2013, Telik is focusing on: (1) planning and initiating a Phase 3 placebo-controlled randomized registration trial of TELINTRA for the treatment of Low to Intermediate-1 risk MDS and (2) advancing its leading preclinical oncology drug candidate.  In order to initiate the registration trial, we need to secure funding through the establishment of a corporate partnership and licensing agreement, funding from a non- profit agency, or other financing sources.

Financial Outlook

For the full year 2013, Telik anticipates total operating costs and expenses to be in the range of $5.5 million to $6.0 million, which includes non-cash stock-based compensation expense of approximately $0.3 million. The costs for a Phase 3 TELINTRA registration trial are not included in this outlook and would require additional funding. The company's cash utilization for the full year 2013, without any Phase 3 costs, is expected to be in the range of $7.0 million to $7.5 million. The company was able to raise approximately $3.6 million through its At Market Issuance Sales Agreement in the first two months of 2013, and its current existing cash resour
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