BioCryst Reports Third Quarter 2008 Financial Results and Provides Corpor... ( BIRMINGHAM Ala. Oct. 31 /- BioCry...)

BioCryst Reports Third Quarter 2008 Financial Results and Provides Corporate Update

Date:10/31/2008

BIRMINGHAM, Ala., Oct. 31 /PRNewswire-FirstCall/ -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced financial results for the quarter ended September 30, 2008.

Third Quarter 2008 Financial Results

For the three months ended September 30, 2008, the Company reported collaborative and other research and development revenues of $8.9 million compared to $20.5 million for the three months ended September 30, 2007. This decrease is driven by a reduction in peramivir clinical development costs and associated revenue from the contract with the U.S. Department of Health and Human Services (HHS) for the development of peramivir. Currently, the majority of the Company's revenues are derived from the reimbursement of costs under the contract with HHS.

Research and development (R&D) expenses were $16.0 million for the three months ended September 30, 2008, compared to $29.7 million for the three months ended September 30, 2007. The decrease in R&D expenses is primarily attributable to a reduction in clinical development costs associated with the peramivir program, a reduction in manufacturing costs associated with both the peramivir and forodesine HCl program and a reduction in costs incurred related to the Company's preclinical programs. These reductions were partially offset by an increase in BioCryst's clinical development costs in the forodesine HCl program.

General and administrative (G&A) expenses were $2.5 million for the three months ended September 30, 2008, compared to $2.6 million for the three months ended September 30, 2007.

The net loss for the quarter ended September 30, 2008 was $9.0 million, or $0.24 per share, compared to a net loss for the quarter ended September 30, 2007 of $11.0 mill
'/>"/>

0

GOOD

Page: 1 2 3 4 5 6 7 8 9
Related biology technology :

1. BioCryst Reports Results From the First-Ever Completed Active-Controlled Phase 2 Study in Hospitalized Influenza
2. BioCryst Pharmaceuticals To Announce Third Quarter 2008 Financial Results On October 31, 2008
3. BioCryst to Present at the JMP Healthcare Focus Conference
4. BioCryst to Present at UBS 2008 Global Life Sciences Conference
5. BioCryst Pharmaceuticals To Announce Second Quarter 2008 Financial Results on August 7, 2008
6. William P. Sheridan Appointed Chief Medical Officer of BioCryst Pharmaceuticals
7. BioCryst Reports First Quarter 2008 Financial Results and Clinical Update
8. BioCryst Reports Fourth Quarter and Year End 2007 Financial Results and Corporate Update
9. BioCryst Pharmaceuticals to Announce Fourth Quarter and Fiscal Year 2007 Financial Results on March 4, 2008
10. BioCryst Strengthens Its Expertise in Clinical Development By Adding Thomas J. Simon, M.D. as Interim Chief Medical Officer To Meet Growing Product Development and Commercial Opportunities
11. BioCryst to Present at UBS 2007 Global Life Sciences Conference

Post Your Comments:

BioCryst Reports Third Quarter 2008 Financial Results and Provides Corpor...( BIRMINGHAM Ala. Oct. 31 /- BioCry...)