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BioCryst Reports Fourth Quarter and Year End 2008 Financial Results and Provides Corporate Update
Date:2/6/2009

n of the Company's collaboration with Roche, and increases in personnel related costs, professional fees and operating costs.

G&A expenses were $10.4 million for the year ended December 31, 2008, compared to $9.5 million for the year ended December 31, 2007. The higher expenses were primarily due to increases in professional fees and operating costs.

The net loss for the year ended December 31, 2008, was $24.7 million, or $0.65 per share, compared to a net loss for the year ended December 31, 2007, of $29.1 million, or $0.89 per share.

As of December 31, 2008, the Company held cash, cash equivalents and investments of $63.3 million, which is in-line with the Company's 2008 guidance. BioCryst expects the Company's net cash use in 2009 will be between $30.0 and $38.0 million, dependent on the achievement of certain clinical milestones.

"We made significant headway in our clinical programs in 2008 and have a cash position that will enable us to fund our clinical programs well into 2010," stated Jon Stonehouse, President and Chief Executive Officer of BioCryst. "We were pleased to report positive data, from both our internal and partnered peramivir programs, and look forward to evaluating the data from our ongoing peramivir trials. In 2009, we hope to report top-line data from our Phase 2 trial of peramivir in outpatient influenza and subsequently initiate a Phase 3 program in this indication, and will continue to progress our PNP programs."

Recent Clinical and Corporate Highlights

Peramivir Program

  • BioCryst's Phase 2 study of i.m. peramivir in the outpatient setting continues to enroll patients in the Northern Hemisphere. The Company expects to report top-line data from this study in the second quarter of 2009.

  • BioCryst's partner, Shionogi, has initiate
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SOURCE BioCryst Pharmaceuticals, Inc.
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