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Pharmacyclics Receives Nasdaq Notification
Date:2/24/2009

SUNNYVALE, Calif., Feb. 24 /PRNewswire-FirstCall/ -- Pharmacyclics, Inc. (Nasdaq: PCYC) today announced that it received a notice from The Nasdaq Stock Market dated February 18, 2009, about Nasdaq's equity requirements. The notice has no immediate effect on the listing of the Company's common stock. In its letter, Nasdaq requested that the Company provide a plan to achieve and sustain compliance with the continued listing requirements of the Nasdaq Global Market, including the minimum stockholders equity requirement, before March 5, 2009. The stockholders equity of the Company on December 31, 2008 was less than the $10 million in stockholders equity required for continued listing on the Nasdaq Global Market under marketplace Rule 4450 (a)(3). Pharmacyclics, Inc. is considering various possibilities to address this issue, including but not limited to a rights offering. The stockholders equity on December 31, 2008 was 8,032,000 million, this does not include the loan the Company has received from Mr. Duggan, CEO and Chairman, of $5,000,000 and the recently completed sale of stock of $1,400,000, which when combined total $6,400,000.

The Company will submit its plan to Nasdaq by February 25, 2009.

About Pharmacyclics

Pharmacyclics(R) is committed to creating and developing novel pharmaceutical products that treat serious unmet medical needs in oncology and autoimmune diseases. Its deep and broad pipeline includes four innovative drug candidates that are currently under clinical development. The Company is headquartered in Sunnyvale, California and is listed on NASDAQ under the symbol PCYC. To learn more about how Pharmacyclics advances science to improve human healthcare visit us at http://www.pharmacyclics.com. Pharmacyclics(R) and the "pentad
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SOURCE Pharmacyclics, Inc.
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