Pharmacyclics (PCYC +1.7%
) gets a bump higher this morning after announcing its Phase III clinical trial using Ibrutinib versus Chlorambucil to treat chronic lymphocytic leukemia and small lymphocyctic lymphoma has enrolled its fifth patient. The enrollment subsequently triggers a fourth
$50M milestone payment obligation from JNJ
's Janssen Biotech, who is collaborating with PCYC
on Ibrutinib in oncology. On Monday, the drug was granted a 3rd
"Breakthrough Therapy Designation" by the FDA.