On January 9, 2014, NASDAQ Listing Qualifications staff (Staff) notified
Telik, Inc. (Company) that it determined to delist the Company based
on Rule 5550(b)(1).  On January 16, 2014, the Company exercised its right
to appeal the Staffs determination to the Listing Qualifications Hearings
Panel (Panel) pursuant to Rule 5815.  A Panel hearing was held on
February 20, 2014.  On February 25, 2014, the Panel issued a decision
that reversed Staffs determination to delist the Company and granted the
Company through May 31, 2014 to meet certain milestones.  On May 21, 2014,
the Panel issued a decision that provided the Company an extension to
July 8, 2014. On July 9, 2014, the Panel issued a decision to delist the
Company. On July 9, 2014, the Company exercised its right to appeal the
July 9, 2014 Panel decision to the Nasdaq Listing and Hearing Review
Council (Council) pursuant to Rule 5820(a). On September 22, 2014, the
Council issued a decision that reversed the July 9, 2014 Panel decision
to delist the Companys securities and granted the Company an extension to
September 30, 2014.  On October 1, 2014, the Company was provided notice
that it failed to meet the terms of the September 22, 2014 Council
decision.  On November 17, 2014, the Company was provided notice that the
Nasdaq Board of Directors declined to call the Council decision for review
pursuant to Rule 5825(a).