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Telik Announces Fourth Quarter and 2011 Year End Financial Results and 2012 Financial Guidance
Date:2/23/2012

rials, (2) seeking corporate partnerships and funding for development and commercialization of its drug product candidates and (3) advancing its leading preclinical oncology drug candidate.

Financial Outlook

For the full year 2012, Telik anticipates total operating costs and expenses to be in the range of $12.0 million to $13.0 million, which includes stock-based compensation expense of approximately $0.8 million. The company's cash utilization for the full year 2012 is expected to be in the range of $13.0 million to $14.0 million and will have to raise additional funds through equity or debt financings in order to meet its 2012 cash requirements.  There is no assurance Telik will be successful in obtaining additional funding.

About TelikTelik, 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 malignancies 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.

Forward Looking StatementsThis press release contains "forward looking" statements, including statements regarding Telik's financial outlook and expected cash utilization for 2012 and the future development of TELINTRA, TELCYTA, preclinical drug candidates 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, that Telik would be unable to continue to fund its
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SOURCE Telik, Inc.
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