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BioCryst Reports Third Quarter 2008 Financial Results and Provides Corporate Update
Date:10/31/2008

"As a result of prudent cash control, we reconfirm that the cash burn for the year ended December 31, 2008 will remain at the lower end of $25 to $30 million guidance provided earlier this year," said Stuart Grant, BioCryst's Chief Financial Officer. "We have implemented strategic initiatives, including a recent 20 percent reduction in our workforce, to focus the Company's resources on the execution of our late-stage clinical trials and the development of our most promising pre-clinical compounds. We have full funding of our peramivir program through Phase 2 clinical trials from HHS and a strong cash position that will allow us to execute on our plan without depending on the capital markets."

"We have recently made significant advancements in our clinical programs and are encouraged by the positive peramivir efficacy data reported in the Phase 2 study we conducted in subjects with influenza requiring hospitalization, and the Phase 2 study in subjects with acute uncomplicated influenza conducted by our partner, Shionogi & Co., Ltd.," said Jon Stonehouse, President and Chief Executive Officer of BioCryst. "Over the next year, we have several key value-driving milestones for both our peramivir and PNP programs and remain committed to advancing our products towards market."

Corporate Update

-- A poster entitled "A Double-Blind, Placebo-Controlled Study of

Intravenous Peramivir in Acute Influenza Patients" was presented at

the 48th Annual Interscience Conference on Antimicrobial Agents and

Chemotherapy (ICAAC), detailing the results of a Shionogi & Co.,

Ltd.-sponsored, placebo-controlled, Phase 2 study of intravenous (i.v.)

peramivir, a neuraminidase inhibitor, in outpatients with acute,

uncomplicated influenza. The study met its primary endpoint of time to

alleviation of symptoms for both the 300 mg dose (p=0.0046) and 600 mg

dose (p=0.0046) (hazard ratios we
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SOURCE BioCryst Pharmaceuticals, Inc.
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