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

operations if it is unable to  raise adequate funding; if the development of its drug candidates, including clinical trials of TELINTRA or TELCYTA, 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 expenditures may increase; if Telik is delisted from the Nasdaq Capital Market, its ability to raise additional financing and the liquidity of its common stock could be adversely affected. Detailed information regarding these and other factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release may be found in Telik's periodic filings with the Securities and Exchange Commission, including the factors described in the section entitled "Risk Factors" in its quarterly report on Form 10-Q for the quarter ended September 30, 2011. Telik does not undertake any obligation to update forward looking statements contained in this press release.

Telik, the Telik logo, TELINTRA, TELCYTA and TRAP are trademarks or registered trademarks of Telik, Inc.Telik, Inc.Statements of Operations(In thousands, except per share amounts)(Unaudited)Three Months Ended Twelve Months EndedDecember 31,December 31,2011201020112010Operating costs and expenses:Research and development

$
,1022,838$
5,566$  11,040General and administrative

1,4012,3746,4919,230Facility exit costs

-5,360-5,360Restructuring costs

-425-425Total operating costs and expenses

2,50310,99712,05726,055Loss from operations

(2,503)(10,997)(12,057)(26,055)Interest and other income (expense), net

41,201351,333Net loss

$
(2,499)$
(9,796)$ (12,022)$ (24,722)Basic and diluted net loss per share

$
(0.05)$
(0.18)$
(0.22)$
(0.46)Weighted average shares used to calculate basic and diluted net loss per share

54,14253,61453,93953,539Selected Balance Sheet
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SOURCE Telik, Inc.
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