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Pharmacyclics Reports Fourth Quarter and Full Year Fiscal 2012 Financial Results and Recent Developments
Date:9/5/2012

ies of $203.6 million, which compares with $112.3 million at June 30, 2011. Additionally, the Company had $5.8 million due from Janssen Biotech, Inc. at June 30, 2012 in connection with its cost sharing arrangement. As announced on August 1, 2012 and August 20, 2012, we triggered two milestone payment obligations of $50 million each from Janssen under the collaboration and license agreement. 

"Since partnering with Janssen in December of last year, we have made good progress, clinically and organizationally. As reported, we initiated the first set of Phase III trials for ibrutinib (32765) and continue to broadly and quickly develop this compound across a variety of B-cell malignancies. Importantly, we continue to attract and hire highly competent professionals with excellent track records in the disciplines of science and administration from within the healthcare field. Our Executive Team is pleased with our progress and we thank each of our hard working employees for their dedication and continued commitment to truly make a significant difference for the betterment of healthcare patients in need," said Bob Duggan, Chairman & CEO of Pharmacyclics.

Recent Developments & HighlightsBusiness UpdateDuring the past six months, we have complemented our management team with exceptional managers overseeing key functional areas within the company. This executive team will be capable of building out the organization to complete the development of ibrutinib (PCI-32765) and set up the commercialization structures. The most recent hires and organizational changes are described briefly in this release:

Maky Zanganeh was promoted to Chief Operating Officer. Dr. Zanganeh was hired at Pharmacyclics as Vice President, Business Development in August 2008. Within the first nine months, she established the collaboration with Les Laboratoires Servier, the leading French independent pharmaceutical company, which provided Pharmacyclics immediate up-
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