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Telik Announces Fourth Quarter and 2010 Year End Financial Results and 2011 Financial Guidance
Date:2/22/2011

with 2009, were primarily due to reduced headcount expenses, lower clinical trial and related expenses as a result of the completion of the Phase II MDS study and lower corporate expenses.

At December 31, 2010, Telik had $24.1 million in cash, cash equivalents and restricted cash and investments, compared with $40.4 million at December 31, 2009.

2010 Highlights

  • Telik announced final positive results from a Phase 2 multicenter trial of TELINTRA in patients with an International Prognostic System Score (IPSS) of low to intermediate-1 risk MDS and presented data at the 52nd Annual Meeting of the American Society of Hematology in Orlando, FL.  The presentation was entitled Phase 2 Randomized Multicenter Study of Extended Dosing Schedules of Oral Ezatiostat HCl (Telintra), a Glutathione Analog, Glutathione-S-transferase P1-1 (GSTP1-1) Inhibitor, In Low to Intermediate-1 Risk Myelodysplastic Syndrome (MDS), Raza, A., Galili, N., Smith, S., Godwin, J., Boccia, R., Myint, H., Mhadevan, D., Mulford, D., Rarick, M., Allison, M A., Melnyk, O., Meng, L., Jones, M., Brown, G., Young, S., List, A., Komrokji, R., and Sekeres, M.
  • Telik was awarded grants totaling $1,222,396 under the U.S. Government's Qualifying Therapeutic Discovery Project (QTDP). The grants are intended to advance five of Telik's ongoing therapeutic drug development programs, including the company's most advanced investigational drug candidate, TELINTRA, for the treatment MDS.
  • TELINTRA, Telik's lead therapeutic product candidate, has been selected by Windhover Information and its advisors as one of "The Top 10 Most Interesting Oncology Projects to Watch."  Windhover is a leading provider of business information to senior executives in the pharmaceutical, biotechnology, and medical device industries.
  • Telik was granted 31 patents in additional jurisdictions around the world.  These include two patents for TELINTRA covering biological activity gra
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  • SOURCE Telik, Inc.
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