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Pharmacyclics Reports Financial Results and Recent Developments for Fiscal Year and Fourth Quarter 2011 - Conference Call Set for Today at 4:30 PM EDT
Date:9/12/2011

SUNNYVALE, Calif., Sept. 12, 2011 /PRNewswire/ -- Pharmacyclics, Inc. (Nasdaq: PCYC) today reported financial results and recent developments for its fiscal year and fourth quarter ended June 30, 2011.

Financial Results for Year and Fourth Quarter Ended June 30, 2011 The non-GAAP (Generally Accepted Accounting Principles) net loss reported for the fiscal year ended June 30, 2011 was $28.0 million, or $0.47 per share. This compares with a non-GAAP net loss of $13.6 million, or $0.28 per share, for the year ended June 30, 2010. For the quarter ended June 30, 2011 the non-GAAP net loss was $9.1 million, or $0.15 per share, which compares with a non-GAAP net loss of $4.9 million, or $0.10 per share for the 2010 quarter.  See "Use of Non-GAAP Financial Measures" below for a description of our non-GAAP measures.  Reconciliation between certain GAAP and non-GAAP measures is provided at the end of this press release.

The GAAP net loss for the fiscal year ended June 30, 2011 was $35.2 million, or $0.59 per share. This compares with a GAAP net loss of $15.0 million, or $0.31 per share for the year ended June 30, 2010.  For the quarter ended June 30, 2011, the GAAP net loss was $11.0 million or $0.18 per share, which compares with a GAAP net loss of $6.8 million, or $0.13 per share for the 2010 quarter.

At June 30, 2011, the company had cash, cash equivalents and marketable securities of $112.3 million, which compares with  $74.1 million at June 30, 2010.  During the quarter ended June 30, 2011 we raised a net of $56.0 million from the sale of approximately 6.4 million common shares and also received a $7.0 million advance development milestone payment from Les Laboratoires Servier under our collaboration agreement.

"Fiscal 2011 was a year to remember for Pharmacyclics. Our efforts to create a coming era of patient friendly, medicinal sol
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SOURCE Pharmacyclics, Inc.
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