Tikcro Technologies, Ltd (OTC:TIKRF) has released the third quarter and nine months financial results for the fiscal year 2009, ended September 30, 2009. The company reported the third quarter net income at $590,000, or $0.07 per diluted share. The nine months net income was $4.7 million, or $0.56 per diluted share.
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The third quarter financial income was reported as $692,000, from the valuation of the company’s holdings in BioCancell Therapeutics, Inc. The company holds 36% of the clinical-stage biopharmaceutical company focused on the treatment of cancer. BioCancell is traded on the Tel Aviv Stock Exchange.
Tikcro Technologies Ltd. (Tikcro) is development-stage company. The Company seeks to merge or effect a business combination with a domestic or foreign, private or public operating company or to acquire minority stakes in one or more operating companies in new areas of operations. In July 2008, the Company acquired minority stake in BioCancell Therapeutics, Inc. (BioCancell), an Israel-based clinical-stage biopharmaceutical company. As of December 31, 2008, the Company holds approximately 5.4% interest in BioCancell.
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