Pharmacyclics, Inc. Announces Proposed Public Offering of Common Stock

    Pharmacyclics, Inc. Announces Proposed Public Offering of Common Stock

PR Newswire

SUNNYVALE, Calif., March 7, 2013

SUNNYVALE, Calif., March 7, 2013 /PRNewswire/ --Pharmacyclics, Inc. (NASDAQ:
PCYC), a clinical-stage biopharmaceutical company focused on developing and
commercializing innovative small-molecule drugs for the treatment of cancer
and immune mediated diseases, today announced that it has commenced an
underwritten registered public offering of 2,200,000 shares of its common
stock, representing approximately 3.1% of the shares of common stock currently
outstanding. All of the shares are being sold by Pharmacyclics.

J.P. Morgan Securities LLC is acting as sole manager for the proposed
offering. Pharmacyclics intends to grant the underwriter a 30-day option to
purchase up to an additional 330,000 shares of common stock to cover
over-allotments, if any.The offering is subject to market conditions, and
there can be no assurance as to whether or when the offering may be completed,
or as to the final size or terms of the offering.

Pharmacyclics intends to use the net proceeds from this offering to accelerate
commercial readiness for Ibrutinib post Breakthrough Therapy Designation, to
advance its clinical pipeline, including expanding clinical development of
Ibrutinib in additional indications, to evaluate strategic opportunities to
potentially add synergistic assets, and for general corporate purposes.

The shares will be issued pursuant to an effective shelf registration
statement on Form S-3 filed today with the Securities and Exchange Commission.
Pharmacyclics has filed with the Securities and Exchange Commission a
preliminary prospectus supplement with respect to the offering.

This announcement shall not constitute an offer to sell or the solicitation of
an offer to buy any securities of Pharmacyclics, nor shall there be any offer
or sale of securities in any state or jurisdiction in which an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction. Copies of the
preliminary prospectus supplement and accompanying prospectus may be obtained
from J.P. Morgan Securities LLC via Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, New York, 11717 or by calling toll-free (866)
803-9204.

About Pharmacyclics

Pharmacyclics, Inc., headquartered in Sunnyvale, California, is a
clinical-stage biopharmaceutical company focused on developing and
commercializing innovative small-molecule drugs for the treatment of cancer
and immune mediated diseases. Its corporate mission and goal is to build a
viable biopharmaceutical company that designs, develops and commercializes
novel therapies intended to improve quality of life, increase duration of life
and resolve serious medical healthcare needs; and to identify promising
product candidates based on scientific and administrational development
expertise, develop our product candidates in a rapid, cost-efficient manner
and pursue commercialization and/or development partners when and where
appropriate.

Presently, Pharmacyclics has three product candidates in clinical development
and several research molecules in lead optimization. The Company is committed
to high standards of ethics, scientific rigor, and operational efficiency as
it moves each of these programs toward viable commercialization.

Pharmacyclics, Inc. Contacts:

Joshua T. Brumm
Executive Vice President, Finance
Phone: 408-215-3311

Ramses Erdtmann
Senior Vice President of Investor Relations
Phone: 408-215-3325





SOURCE Pharmacyclics, Inc.
 
Press spacebar to pause and continue. Press esc to stop.