Telik, Inc. (TELK) 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 disorders 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.
Financials
The company reported the second-quarter financial results on August 10 with the following highlights: Revenue $0 Net loss $2.1 million Cash $8.1 million Debt $0 Net cash $8.1 million Shares outstanding 1.8 million Net cash per share $4.50
Ongoing Clinical Trials
TELINTRA Tablets (Ezatiostat HCl, TLK199)
Phase 2 Trial in Myelodysplastic Syndrome Phase 2 Trial in Severe Chronic Neutropenia Phase 1 Combination Trial with Revlimid in Myelodysplastic Syndrome
TELCYTA (canfosfamide, TLK286)
Phase 2 trial using TELCYTA in MCL, DLBCL & MM
My analysis
The stock is currently trading at 65% discount to its net cash per share value. I would recommend buying the shares below the net cash level. I am not expecting the company to be profitable for the full-year 2012.
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