SUNNYVALE, Calif., May 30, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Pharmacyclics, Inc. (Nasdaq: PCYC) today announced that it has received notice from The Nasdaq Stock Market that the company has regained compliance with Marketplace Rule 4450(a)(5) (the "Rule") relating to the maintenance of a minimum $1.00 bid price of the Company's common stock. Nasdaq had previously notified the company on April 17, 2008 that its common stock had failed to maintain a minimum bid price of at least $1.00 per share over the previous 30 consecutive business days as required by the Rule, and that the Company had 180 calendar days to regain compliance. Since then, the closing bid price of the company's common stock has been at $1.00 per share or greater for at least 10 consecutive business days. Accordingly, Nasdaq has determined that the Company has regained compliance with the Rule.
Pharmacyclics is a pharmaceutical company developing innovative products to treat cancer and immune mediated diseases. The company is leveraging its small-molecule drug development expertise to build a pipeline in oncology and other diseases based on a wide range of targets, pathways and mechanisms. More information about the company, its technology, and products can be found at http://www.pharmacyclics.com. Pharmacyclics(R), and the "pentadentate" logo(R) are registered trademarks of Pharmacyclics, Inc.
SOURCE Pharmacyclics, Inc.
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