Under the terms of the loan, Pharmacyclics is to pay RWD the principal sum
of
Mr. Duggan commented, "While the global economy is in unchartered waters and forecasts concerning the future are all over the map, it is important to keep in mind that companies like Pharmacyclics continue to discover and develop innovative medicines to treat serious, unmet worldwide medical needs. As a practical matter almost every country, company, organization and individual that make up this economy of ours is presently very engaged in plotting a course of action that creates prosperity and forward progress for their shareholders, for their employees, and in the case of Pharmacyclics, for cancer patients.
"We take full responsibility for what we know and know the work we are engaged in is work worth doing. Our resolve has never been stronger. I am pleased to be in a position to continue investing in what I feel is a bright future in the making at Pharmacyclics."
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
NOTE: Other than statements of historical fact, the statements made in
this press release about future plans for and the timing of initiation of our
clinical trials, progress of and reports of results from preclinical and
clinical studies, expected effect of our products under development, clinical
development plans and product development and corporate partnering activities
are forward-looking statements, as defined in the Private Securities
Litigation Reform Act of 1995. The words "project," "believe," "will," "may,"
"continue," "plan," "expect," "intend," "anticipate," variations of such
words, and similar expressions also identify forward-looking statements, but
their absence does not mean that the statement is not forward-looking. The
forward-looking statements are not guarantees of future performance and are
subject to risks and uncertainties that may cause actual results to differ
materially from those in the forward-looking statements. Factors that could
affect actual results include risks associated with unexpected delays in
clinical trials and preclinical studies and the timing for making related
regulatory filings; the fact that data from preclinical studies and Phase 1 or
Phase 2 clinical trials may not necessarily be indicative of future clinical
trial results; our ability to obtain future financing and fund the product
development of our pipeline; the initiation, timing, design, enrollment and
cost of clinical trials and preclinical studies; our ability to establish
successful partnerships and collaborations with third parties; the regulatory
approval process in
SOURCE Pharmacyclics, Inc.