Exhibit 99.1

Tikcro Technologies Reports Second Quarter 2020 Results

Hadera, Israel, October 30, 2020 - Tikcro Technologies Ltd. (OTCQB: TIKRF) today reported its financial results for the second quarter ended June 30, 2020.

"We reduced our operating expenses and continue to consider businesses for a reverse merger and other corporate alternatives, said Aviv Boim, CEO of Tikcro.

Financial Results for the Second Quarter Ended June 30, 2020

Net loss for the second quarter of 2020 was $96,000, or $0.01 per diluted share, compared to a net loss of $248,000, or $0.03 per diluted share, for the same period last year.

As of June 30, 2020, the company reported $4.2 million in cash, cash equivalents and short-term bank deposits.

Net loss for the six months ended June 30, 2020 was $192,000, or $0.02 per diluted share, compared to a net loss of $519,000, or $0.05 per diluted share, for the six months ended June 30, 2019.

About Tikcro Technologies

Tikcro Technologies Ltd. (OTCQB: TIKRF) has developed certain antibodies selected and verified in pre-clinical trials with a focus on antibodies targeting immune modulator pathways for cancer treatment. For more information, visit Tikcro’s website at www.tikcro.com.

Safe Harbor Statement

Certain of the statements contained herein may be considered forward-looking statements that involve risks and uncertainties including, but not limited to, risks related to our ability to sell or license the rights to our CTLA-4 antibody on reasonable terms or at all, our ability to identify an attractive business for a reverse merger and, if we do, our ability to consummate the merger on reasonable terms. Such risks and uncertainties are set forth in the Company's SEC reports, including the Company's Form 20-F. Actual results may materially differ. Results of operations in any past period should not be considered indicative of the results to be expected for future periods. We undertake no duty to update any forward-looking information.

For more information, please contact:

Investor Contact

Allison Soss
KCSA Strategic Communications
Phone: 212-896-1267
Email: asoss@kcsa.com

Tikcro Technologies Ltd. Condensed Balance Sheets (US dollars in thousands)
	June 30, 2020		December 31, 2019
	Unaudited		Audited

Assets
Current assets
Cash, cash equivalents and short-term bank deposits	$	4,077	$	4,273
Restricted cash		83		83
Receivables and other financial asset		28		40
Total current assets		4,188		4,396

Property and equipment, net		-		26

Total assets	$	4,188	$	4,422

Liabilities and Shareholders' Equity

Current liabilities:
Other current liabilities	$	157	$	200
		157		200

Shareholders' equity		4,031		4,222

Total liabilities and shareholders' equity	$	4,188	$	4,422

Tikcro Technologies Ltd.
Statements of Operations
(US dollars in thousands, except per share data)

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019

Research and development expenses	$	-		$	128		$	-		$	265

General and administrative expenses, net		110			141			221			287

Total operating expenses		110			269			221			552

Operating loss		(110	)		(269	)		(221	)		(552	)

Financial income, net		14			21			29			33

Net loss	$	(96	)	$	(248	)	$	(192	)	$	(519	)

Basic and diluted net loss per share	$	(0.01	)	$	(0.03	)	$	(0.02	)	$	(0.05	)

Weighted average number of shares used computing basic and diluted loss per share		9,879			9,879			9,879			9,879

TIKCRO TECHNOLOGIES LTD 6-K