Pharmacyclics, Inc. (NASDAQ: PCYC)’s shares soared more than 12 percent, trading up at $122.12 (2:07 PM EDT) after the company announced yesterday of its FDA approved IMBRUVICA (ibrutinib) for the treatment of chronic lymphocytic leukemia (CLL) with prior therapy and deletion of the short arm chromosome 17 CLL (del 17p CLL). Chronic lymphocytic leukemia (CLL) is a slow-growing blood cancer of the white blood cells.

Per the phase III Resonate study, patients received Imbruvica demonstrated a statistically significant improvement in progression-free survival, overall survival and overall response rate as compared to ofatumumab treatment alone. Imbruvica is being jointly developed and commercialized by Pharmacyclics, Inc. and Janssen Biotech, Inc. (NYSE:JNJ). The approval of Imbruvica, thus, triggers $60 million in milestone payments to Pharmacyclics under its collaboration agreement with its partner.

Source: Pharmacyclics, Inc.

Share of Pharmacyclics are trading in a range of $101.69 to $102.51. The 52-week range of the stock is $85.50 to $106.74 PS. The company has a market cap of $289.36B with a P/E ratio of 18.91.

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