Boston, MA 06/13/2013 (wallstreetpr) – The share prices of Telik Inc. (NASDAQ:TELK) had declined by 10.60 percent to close at $1.35 per share for the end of last trading session on Wednesday. The shares of the company had been trading in the range of $1.30 to $1.45 per share for the day, after opening at $1.45 per share on Wednesday. The shares of Telik Inc. (NASDAQ:TELK) had recorded 52 week low price level of $1.09 per share and 52 week high price level of $3.66 per share.
Telik Inc. (NASDAQ:TELK) is involved in the discovery and development of small molecule drugs in the field of oncology. The principal product candidate of the company, TELINTRA is presently in the clinical development and is basically a small molecule glutathione analog inhibitor of the enzyme glutathione S-transferase P1-1. Further, the other product candidate of Telik Inc. (NASDAQ:TELK), TELCYTA is a small molecule cancer drug designed to be activated in cancer cells.
The drug development company with primary focus on small molecule drugs for the treatment of cancer had recently been declining in share prices owing to weak fundamentals in the market environment. This decline in share prices is further coupled with heavy trading volumes at nearly twice the average levels.
Telik Inc. (NASDAQ:TELK) had witnessed the trade of 76,301 shares on Wednesday, while the average trading volume of the company is at 37,336 shares per day. The oncology based drug development company presently holds 4.56 million shares outstanding in the market with an institutional ownership of 7 percent of its holdings.
