Item 1.01 Entry into a Material Definitive Agreement.

On March 31, 2009, Robert W. Duggan & Associates ("RWD"), increased the amount of its unsecured loan to Pharmacyclics, Inc. (the "Registrant"), from $5,000,000 (originally loaned on December 30, 2008, the "Original Loan") to $6,400,000 (the "Loan"). Other than the increase of the principal amount of the Loan, none of the other terms and conditions of the Loan have been changed. As previously provided, under the terms of the Loan, the Registrant is to pay RWD the principal sum of $6,400,000 on the earlier of (i) July 1, 2010 or (ii) upon the closing of an equity offering or rights offering by the Registrant (provided that the Loan shall only accelerate up to the amount of net proceeds raised in the equity offering or rights offering, as the case may be). The interest rate on the Original Loan was 1.36% from December 30, 2008 until March 31, 2009, and the Loan bears interest as follows: (i) the rate of interest in effect for such day as publicly announced from time to time by Citibank N.A. as its "prime rate" from April 1, 2009 until December 31, 2009 and (ii) the prime rate plus 2% from January 1, 2010 until the expiration of the Loan. Interest is to be paid annually.

RWD is controlled by the Registrant's Chairman of the Board and Chief Executive Officer, Robert W. Duggan. Mr. Duggan is the beneficial owner of approximately 28% of the Registrant's outstanding common stock. The Loan was unanimously approved by the Registrant's Board of Directors.

The Company anticipates its cash balance at the end of March 2009 to be approximately $11.4 million.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

See the disclosure set forth under Item 1.01, which is incorporated by reference into this Item 2.03.

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