Pharmacyclics Sets Record Date for Rights Offering

SUNNYVALE, Calif., July 7 /PRNewswire-FirstCall/ -- Pharmacyclics, Inc.
(Nasdaq: PCYC) announced today that it has set the close of trading on July
15, 2009 as the record date for its upcoming Rights Offering. To participate
in the rights offering, shares of Pharmacyclics would have to be purchased on
or before July 10, 2009, assuming a three day settlement period.

The rights offering will be made through the distribution of non-transferable
subscription rights to purchase shares of Pharmacyclics' common stock at a
subscription price to be determined. Assuming the rights offering is fully
subscribed, the Company will receive gross proceeds of approximately $24
million, less expenses of the rights offering. The rights offering includes an
oversubscription privilege which permits each rights holder that exercises its
rights in full to purchase additional shares of common stock that remain
unsubscribed at the expiration of the offering.

The definitive terms of the Offering, including the subscription price, will
be contained in the prospectus. It is anticipated that the prospectus along
with the rights certificates will be mailed to eligible shareholders on or
about July 16, 2009. Shareholders wishing to exercise their rights must return
their completed certificate along with the applicable funds as directed, on or
before the expiration date, which is scheduled to be July 31, 2009 at 5:00 pm
Eastern Daylight Time, unless extended by the Company.

A registration statement relating to these securities has been filed with the
SEC but has not yet become effective. The securities may not be sold nor may
offers to buy be accepted prior to the time the registration statement becomes
effective. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the securities laws
of any such state.

About Pharmacyclics
Pharmacyclics(R) is a clinical-stage biopharmaceutical company focused on
developing and commercializing innovative small-molecule drugs for the
treatment of immune mediated disease and cancer. The purpose of the Company is
to create a profitable business by generating income from products it
develops, licenses and commercializes, either with one or several potential
partners or alone as may best forward the economic interest of its
stakeholders. Pharmacyclics strives to generate collaborations that allow it
to retain valuable territorial rights and simultaneously fast forward the
clinical development and commercialization of its products. Presently,
Pharmacyclics has four product candidates in clinical development and two
product candidates in pre-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.

NOTE: This announcement may contain forward-looking statements made in
reliance upon the safe harbor provisions of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended, including statements regarding our expectations and beliefs
regarding our future results or performance. Because these statements apply to
future events, they are subject to risks and uncertainties. When used in this
announcement, the words "anticipate", "believe", "estimate", "expect",
"expectation", "should", "would", "project", "plan", "predict", "intend" and
similar expressions are intended to identify such forward-looking statements.
Our actual results could differ materially from those projected in the
forward-looking statements. Additionally, you should not consider past results
to be an indication of our future performance. For a discussion of the risk
factors and other factors that may affect our results, please see the Risk
Factors section of our filings with the Securities and Exchange Commission,
including our annual report on Form 10-K and quarterly reports on Form 10-Q.
We do not intend to update any of the forward-looking statements after the
date of this announcement to conform these statements to actual results, to
changes in management's expectations or otherwise, except as may be required
by law.

SOURCE Pharmacyclics, Inc.

Ramses Erdtmann, Vice President of Finance of Pharmacyclics, Inc.,
+1-408-215-3325