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Pharmacyclics Reports Recent Developments and Financial Results for Fiscal Second Quarter 2011
Date:2/4/2011

nd we expect to receive the fourth and final research payment of $1.0 million in the second calendar quarter of 2011.

Mr. Duggan stated, "Our Btk Inhibitor, our Factor VII Inhibitor and our HDAC Inhibitor are now in Phase II. We are pleased with our progress and remain focused on building shareholder value by continuing on the regulatory pathways we have set."

Conference Call and Webcast DetailsThe Company will hold a conference call today at 1:00 p.m. EST. To participate in the conference call, please dial 1-877-407-8133 for domestic callers and 1-201-689-8040 for international callers. To access the live audio broadcast or the subsequent archived recording, log on to http://ir.pharmacyclics.com/events.cfm. The archived version of the webcast will be available for 30 days on the Investor Relations section of the company's Web site at www.pharmacyclics.com.

For further questions please contact Ramses Erdtmann, VP Finance at: 408-215-3325

Use of Non-GAAP Financial MeasuresThis press release contains non-GAAP financial measures, and includes operating and other expenses adjusted to exclude certain non-cash and non-recurring expenses. These measures are not in accordance with, or an alternative for generally accepted accounting principles, or GAAP, and may be different from non-GAAP financial measures used by other companies. The items included in GAAP presentations but excluded for purposes of determining non-GAAP financial measures that we present are: non-cash interest expense associated with the loan from an affiliate of Robert W. Duggan, pro-rata revenue related to prior services performed under the Servier Collaboration, employee related non-cash expenses, the withholding tax related to the Servier transaction, and the net amount of the therapeutic discovery project tax grant. We believe the presentation of non-GAAP financial measures
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