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Pharmacyclics, Inc. Announces Proposed Public Offering of Common Stock
Date:3/7/2013

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, solici
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SOURCE Pharmacyclics, Inc.
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