Pharmacyclics' (NASDAQ: PCYC) share price has tripled in the last 12 months, and its shares saw another 7% jump today after the company's flagship drug, Ibrutinib, was given the Breakthrough Therapy Designation from the FDA. This is also positive news for the company's partner, Johnson & Johnson, which has already paid Pharmacyclics $300 million and could give another $675 million if Ibrutinib meets its remaining milestones. In this video, health care analyst Max Macaluso discusses today's news.
Good news from the FDA for Pharmacyclics.
About the Author
Max is the Technology, Biopharma & Health Care Bureau Chief at Fool.com. Prior to joining the Fool, he completed a PhD in chemistry at the University of Cambridge and an MBA at the College des Ingenieurs.
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