This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Telik Awarded $1.2 Million In Grants For Qualifying Therapeutic Development Projects

PALO ALTO, Calif., Nov. 2, 2010 /PRNewswire/ -- Telik, Inc. (Nasdaq: TELK) a clinical stage drug development company focused on developing drugs to treat cancer, announced that it has been awarded grants totaling $1,222,396 under the U.S. Government's Qualifying Therapeutic Discovery Project (QTDP).  The grants are intended to advance five of Telik's ongoing therapeutic drug development programs including the company's most advanced investigational drug candidate, TELINTRA®, for the treatment of myelodysplastic syndrome (MDS).

"We are pleased that all five of the grant applications submitted under this program were awarded the maximum allocation," said Dr. Michael Wick, Telik Chairman and Chief Executive Officer. "These funds will provide non-dilutive capital for advancing our clinical development programs in oncology, an area of unmet medical need."

A Qualifying Therapeutic Discovery Project is one designed to either treat or prevent diseases or conditions by conducting studies or carrying out research protocols for the purpose of securing approval from the Food and Drug Administration.  Qualifying companies must have 250 or fewer employees.  The award payments were authorized on October 29, 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 candidates in clinical development are Telintra, a modified glutathione analog for the treatment of MDS and Severe Chronic Neutropenia (SCN), and Telcyta®, a cancer activated prodrug.  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.

SOURCE Telik, Inc.

Copyright 2009 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs