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Pharmacyclics Reports Fourth Quarter and Fiscal 2008 Financial Results
Date:8/14/2008

strative expenses of approximately $4 million. Including share-based compensation expense, Pharmacyclics projects total operating expenses of between $16 and $17 million for fiscal year 2009, including general and administrative expenses of approximately $5 million. Financial projections involve a high level of uncertainty due to, among other factors, the variability involved in predicting requirements of early stage research programs and clinical trials, the potential for entering into partnering arrangements or strategic collaborations, the timing of U.S. Food and Drug Administration (FDA) decisions and share-based compensation expense.

"We continue to advance our pipeline of novel product candidates with our HDAC inhibitor moving into a Phase 2 trial for treatment of lymphomas and the filing of an IND for our Factor VIIa inhibitor," said Richard A. Miller, M.D., president and chief executive officer of Pharmacyclics. "Enrollment in two Phase 2 trials with motexafin gadolinium for adult brain tumors and childhood gliomas also continues under sponsorship of the National Cancer Institute and we are planning to conduct a pivotal Phase 3 trial with motexafin gadolinium in patients with brain metastases from lung cancer. Our strategy is to build value in these multiple products as we progress with their development."

Recent and Upcoming Milestones

* Initiated a multicenter Phase 2 trial evaluating oral HDAC

inhibitor, PCI-24781, in hematologic malignancies.

* Announced final data from a Phase 1/2 study showing a 46 percent

complete response rate and a 57 percent overall response rate in 28

patients with multiply recurrent non-Hodgkin's lymphoma (NHL) who

were treated with motexafin gadolinium (MGd, Xcytrin(R)) in

combination with Yttrium-90 Ibritumomab Tiuxetan (Zevalin(TM)), an

approved antibody-targeted radiation therapy.

* Announced results fro
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SOURCE Pharmacyclics, Inc.
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