Pharmacyclics, Inc. (PCYC)

[surf1944]

6:36AM Pharmacyclics misses by $0.01, beats on revs (PCYC) 57.37 : Reports Q1 (Sep) earnings of $1.14 per share, $0.01 worse than the Capital IQ Consensus Estimate of $1.15; revenues rose 256,650.0% year/year to $102.7 mln vs the $99.74 mln consensus. Revenue for the fiscal quarter ended September 30, 2012 consisted primarily of $100 mln of license and milestone revenue due to the co's achievement of two clinical milestones in connection with the co's collaboration and license agreement with Janssen Biotech. At September 30, 2012, the co had cash, cash equivalents and marketable securities of $286.1 mln, which compares with $203.6 mln at June 30, 2012. To date, the Company has received three milestone payments from Janssen of $50 mln each under the Agreement. The co may receive up to an additional $675 mln in development and regulatory milestone payments, however clinical development entails risks and the Company has no assurance as to whether or when the milestone targets might be achieved.