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Pharmacyclics Reports Second Quarter Fiscal 2009 Financial Results
Date:2/13/2009

SUNNYVALE, Calif., Feb. 13 /PRNewswire-FirstCall/ -- Pharmacyclics, Inc. (Nasdaq: PCYC) today reported financial results for its second fiscal quarter ended December 31, 2008. The net loss for the second quarter of fiscal 2009 was $4.8 million, or $0.19 per share, compared to a net loss of $5.9 million, or $0.23 per share, in the second quarter of fiscal 2008.

Total operating expenses were $4.9 million in the second quarter of fiscal 2009, including $0.4 million of severance related share-based compensation expense and $0.2 million of cash severance expense. Excluding the $0.6 million of severance related expenses, total expenses were $4.3 million in the second quarter of fiscal 2009 compared to $6.2 million for the second quarter of fiscal 2008, a decrease of $1.9 million. Excluding $0.4 million in severance related share-based compensation expense, share-based compensation expense was $0.2 million in the second quarter of fiscal 2009 compared to $0.6 million in the second quarter of fiscal 2008. The decrease of $1.9 million in total operating expenses, after excluding the severance related expenses, in the second quarter of fiscal 2009 was primarily due to reduced personnel expenses due to lower headcount and reduced manufacturing costs and outside preclinical expenses associated with the company's HDAC, Btk and Factor VIIa inhibitor programs.

Pharmacyclics also reported its financial results for the six months ended December 31, 2008. The net loss for the six months ended December 31, 2008 was $11.4 million, or $0.44 per share, compared to a net loss of $12.7 million, or $0.49 per share, for the six months ended December 31, 2007. The net loss for the six months ended December 31, 2008 included $2.5 million of severance related expenses.

As of December 31, 2008, the Company's cash, cash equ
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SOURCE Pharmacyclics, Inc.
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