Navigation Links
Telik Announces Third Quarter 2011 Financial Results
Date:11/3/2011

PALO ALTO, Calif., Nov. 3, 2011 /PRNewswire/ -- Telik, Inc. (Nasdaq: TELK) today reported a net loss of $2.8 million, or $0.05 per share, for the third quarter ended September 30, 2011, compared with a net loss of $4.7 million, or $0.09 per share, for the comparable period in 2010.

For the quarter ended September 30, 2011, total operating costs and expenses were $2.9 million, compared with $4.7 million in the third quarter of 2010.  Operating expenses in the 2011 third quarter included stock-based compensation expense of approximately $0.5 million.  Operating expenses were approximately 39% lower in the third quarter of 2011 compared with the same period in 2010, primarily due to lower headcount, clinical development and facility expenses.

For the nine months ended September 30, 2011, Telik reported a net loss of $9.5 million, or $0.18 per share, compared with a net loss of $14.9 million, or $0.28 per share, for the same period in 2010.  Total operating expenses for the first nine months of 2011 were $9.6 million, compared with $15.1 million for the same period in 2010.  Operating expenses in the first nine months of 2011 included approximately $1.2 million in stock-based compensation expense.  The reduction in operating expenses of approximately 37% in the first nine months of 2011 compared with the same period in 2010 was primarily due to lower headcount, reduced clinical trial expenses, lower stock-based compensation and lower facility costs.

At September 30, 2011, Telik had $14.0 million in cash, cash equivalents and investments including restricted investments, compared to $24.1 million at December 31, 2010.

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 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.

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 Nine Months EndedSeptember 30,September 30,2011201020112010Operating costs and expenses:Research and development

$
,305$
2,569$  4,464$
8,202General and administrative

1,5502,1015,0906,856Total operating costs and expenses

2,8554,6709,55415,058Loss from operations

(2,855)(4,670)(9,554)(15,058)Interest and other income (expense), net

71731132Net loss

$
(2,848)$
(4,653)$ (9,523)$ (14,926)Basic and diluted net loss per share

$
(0.05)$
(0.09)$   (0.18)$
(0.28)Weighted average shares used to calculate basic and diluted net loss per share

53,96253,55353,87053,514Selected Balance Sheet Data(In thousands)(Unaudited)September 30,December 31,20112010Cash, cash equivalents, investments and restricted investments

$
4,033$
24,064Total assets

14,93625,029Stockholders' equity

10,27318,369
'/>"/>

SOURCE Telik, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Telik Announces Publication of a Report of Complete Response of G-CSF Resistent Severe Idiopathic Chronic Neutropenia Following Treatment with Telintra®
2. Telik Announces Ezatiostat (Telintra®) Preclinical Presentation at the 2011 AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics
3. Telik Announces Initiation of a Phase 2b Clinical Trial of Telintra® (Ezatiostat HCL) in Patients With Low to Intermediate-1 Risk Non-Deletion (5q) Myelodysplastic Syndrome
4. Telik Announces Publication in the Journal Cancer of a Phase 2 Randomized Multicenter Study of Two Extended Dosing Schedules of Oral Ezatiostat in Low to Intermediate-1 Risk Myelodysplastic Syndrome
5. Telik Announces First Quarter 2011 Financial Results
6. Telik Announces Presentation of New Data on the Characterization of Novel Ezatiostat (TELINTRA®, TLK199) Analogs at American Association for Cancer Research Annual Meeting
7. Telik Announces Presentation and Webcast at 10th Annual Needham Healthcare Conference
8. Telik Announces Fourth Quarter and 2010 Year End Financial Results and 2011 Financial Guidance
9. Telik Announces Presentation and Webcast at 13th Annual BIO CEO & Investor Conference
10. Telik Announces Presentation at American Society of Hematology Annual Meeting
11. Telik Announces Third Quarter 2010 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/8/2016)... Dec. 8, 2016  Economic growth in the United ... and supply management executives in their December 2016 Semiannual ... economic recovery that began in mid-2009, as indicated in ... ® . The manufacturing sector is optimistic about ... 16 manufacturing industries, and the non-manufacturing sector indicates that ...
(Date:12/8/2016)... According to a new market research report "Wearable Medical Devices Market ... Use (Sports, Fitness, RPM), Type (Smart watch, Patch), Distribution Channel (Pharmacy, Hypermarket) ... of value, is projected to reach 12.14 Billion by 2021 from USD ... period. Continue Reading ... ...
(Date:12/8/2016)... Calif. , Dec. 8, 2016  Agenovir ... to develop novel antiviral therapeutics, today announced that ... chief executive officer and a member of the ... incredibly experienced executive with a deep background in ... Quake, D.Phil., founder of Agenovir, co-president of Chan ...
Breaking Medicine Technology:
(Date:12/8/2016)... ... December 08, 2016 , ... ... announce that “Natural Language Processing–Enabled and Conventional Data Capture Methods for Input to ... Medical Informatics . , Results of the comparative usability study demonstrate that a ...
(Date:12/8/2016)... ... ... With the increasing demand for dental implants, the National Association of Dental ... dentists and patients about the safety issues related to dental restorations. According to the ... is projected to reach $6.4 billion in 2018 with more than 30 million Americans ...
(Date:12/8/2016)... ... December 08, 2016 , ... ... its innovative Unified Instance Manager architecture, meeting the needs of multichannel growth ... optimizes the unattended auto-dialing system without agents, Presence Robodialer, provides greater operational ...
(Date:12/8/2016)... (PRWEB) , ... December 08, 2016 , ... California Senate ... medical payments per workers’ compensation claim in 2013 and 2014, according to CompScope™ ... Research Institute (WCRI) . , According to the study, medical payments per claim in ...
(Date:12/8/2016)... ... December 08, 2016 , ... Dickinson Insurance and ... headquartered in Little Rock, has initiated a charity drive to provide support and ... to End Senior Hunger, Arkansas ranks first in senior hunger statewide, third in ...
Breaking Medicine News(10 mins):