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Biotech / Medical : Pharmacyclics (PCYC)

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To: keokalani'nui who wrote (638)	8/28/2001 10:11:11 PM
From: IRWIN JAMES FRANKEL	Read Replies (1) of 717

I don't know if this had anything to do with it. Perhaps there is more to the report than reported. Friday August 24, 12:00 pm Eastern Time RESEARCH ALERT-J.P. Morgan sees wider '02 loss at Pharmacyclics NEW YORK, Aug 24 (Reuters) - J.P. Morgan said Friday it expects Pharmacyclics Inc. (NasdaqNM:PCYC - news) to lose more money than previously expected in fiscal 2002. Analyst Corey Davis, in a research note, estimated the company will lose $3.26 a share in the fiscal year ending in June 2002, instead of $2.46. The Sunnyvale, California-based company lost $1.92 a share in fiscal 2001. Davis said he increased his estimate of research and development and administrative expenses for next year. He also removed a $3.5 million license fee for the company's Xcytrin, a radiation sensitizer for brain tumors. He said the next major event for the company will be results from the ongoing Xcytrin Phase III brain metastases trial, still on track for year-end. Pharmacyclics has been expected to lose $3.00 to $3.26 in fiscal 2002, according to a survey of three analysts by market researcher Thomson Financial/First Call. Its stock rose 3 cents to $18.50 in early trading on the Nasdaq market.

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