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BioCryst Reports Fourth Quarter and Year End 2007 Financial Results and Corporate Update
Date:3/4/2008

duct candidates.

General and administrative ("G&A") expenses were $2.5 million for the fourth quarter of 2007, compared to $1.6 million for the fourth quarter of 2006. The increase in G&A expenses is primarily due to an increase in personnel related costs as a result of increased headcount, including an increase in the non-cash share-based compensation expense for the quarter and an increase in professional fees.

Year End 2007 Financial Results

The Company reported revenues of $71.2 million for the year ended December 31, 2007, compared to $6.2 million in 2006. The increase in revenues is primarily due to revenue from the contract with HHS for the development of peramivir, a $7 million milestone payment received from Shionogi, and the continuing amortization of deferred revenue from our collaborative agreements.

Net loss applicable to common stockholders for the year ended December 31, 2007 was $29.1 million, or $0.89 per share, as compared to $43.6 million, or $1.50 per share for the year ended December 31, 2006. The net loss for the year ended December 31, 2007 includes non-cash charges of $1.4 million, or $0.04 per share, and stock-based compensation of $5.7 million, or $0.17 per share.

R&D expenses were $94.1 million for the year ended December 31, 2007, compared to $47.1 million for the same period in 2006. The increase in R&D expenses is primarily attributable to an increase in clinical trial related expenses, manufacturing costs for our lead product candidates and costs related to an increase in the personnel supporting the advanced development of our product candidates.

G&A expenses were $9.5 million for the year ended December 31, 2007, compared to $6.1 million for the same period in 2006. The increase in G&A expenses is primarily due to personnel related costs, including an increase of $1.2 million in the non-cash share-based compensation expense for the period, and an increase in professional fees.

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SOURCE BioCryst Pharmaceuticals, Inc.
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