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

n. The company's cash utilization for the full year 2011 is expected to be in the range of $14.0 million to $15.0 million.

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 candidates in clinical development are TELINTRA, a modified glutathione analog for the treatment of cytopenias due to myelodysplastic syndrome or chemotherapy, and TELCYTA, a tumor-activated prodrug for the treatment of advanced non-small cell lung cancer and ovarian cancer. 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.

This press release contains "forward looking" statements, including statements regarding Telik's financial outlook and expected cash utilization for 2011 and the future development of TELINTRA, TELCYTA, preclinical drug candidates, support of TRAP research and potential corporate partnerships. 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, if the further development of TELINTRA, TELCYTA, or preclinical drug candidates, including any clinical trial of TELINTRA or TELCYTA, is delayed or unsuccessful, Telik's business would suffer; Telik's business would be adversely affected if it is unable to secure partners or raise funding for the continued development of its product candidates; if Telik's competitors develop and market products that are more effective than its product candidates or any product that Telik may develop, or obtain marketing approval before Telik does, Telik's commercial opportunity will be reduced or eliminated; and if Telik does not obtain regulatory approval to market product
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10. Telik Announces Third Quarter 2009 Financial Results
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