Back to top

Analyst Blog

Pharmacyclics, Inc. (PCYC - Analyst Report) recently announced the enrollment of the fifth patient in a phase II study that is being conducted with ibrutinib in patients suffering from relapsed or refractory mantle cell lymphoma (MCL). With the enrollment of the fifth patient, Pharmacyclics is eligible to receive a $50 milestone payment from partner, Janssen Biotech, Inc., a Johnson & Johnson (JNJ - Analyst Report) company.

The single-arm, multi-center phase II study, SPARK (MCL2001), is being conducted in MCL patients who have been treated with at least one prior rituximab-containing chemotherapy regimen and who progressed after treatment with bortezomib. While overall response rate is the primary endpoint, secondary endpoints include overall survival rate, progression-free survival rate, and pharmacokinetic data.

Pharmacyclics and Janssen’s agreement dates back to December 2011. The companies are collaborating for the global development and commercialization of ibrutinib. Besides receiving a $150 million upfront payment from Janssen, Pharmacyclics is entitled to receive another $825 million on the achievement of development and regulatory milestones.

With the triggering of the $50 million milestone payment for the SPARK study, Pharmacyclics has already earned $100 million in the form of development milestones. This includes a $50 million milestone payment that was triggered earlier this month with the enrollment of the fifth patient in another study (RESONATE (PCYC-1112)) with ibrutinib.

The international phase III randomized, multicenter, open-label RESONATE study is being conducted in patients with relapsed or refractory chronic lymphocytic leukemia or small lymphocytic lymphoma (CLL/SLL).

We currently have a Neutral recommendation on Pharmacyclics, which carries a Zacks #2 Rank (short-term ‘Buy’ rating). We are positive on the company’s collaboration with Janssen for ibrutinib. Janssen is a suitable partner for Pharmacyclics. Janssen’s strong global presence bodes well for the commercialization of ibrutinib, once it is approved.

Please login to or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research


Are you a new Zacks Member or a visitor to

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
UNITED THER… UTHR 117.83 +28.51%
TRIQUINT SE… TQNT 20.67 +6.52%
RF MICRO DE… RFMD 12.47 +6.04%
VASCO DATA… VDSI 14.77 +4.68%
BANCO DO BR… BDORY 15.53 +3.95%