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Pharmasset Reports Fiscal Second Quarter 2009 Financial Results
Date:5/11/2009

of the ongoing or planned clinical trials and/or our development of our product candidates, the risk that the results of previously conducted studies involving our product candidates will not be repeated or observed in ongoing or future studies involving our product candidates, the risk that our collaboration with Roche will not continue or will not be successful and the risk that any one or more of our product candidates will not be successfully developed and commercialized. For a discussion of these risks and uncertainties, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the section of our Annual Report on Form 10-K for the fiscal year ended September 30, 2008 and our Quarterly Report on Form 10-Q for the period ended March 31, 2009 filed with the Securities and Exchange Commission entitled "Risk Factors" and discussions of potential risks and uncertainties in our subsequent filings with the Securities and Exchange Commission.


                                  PHARMASSET, INC.
            CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE NET LOSS
                                     (UNAUDITED)

                           Three Months Ended           Six Months Ended
                               March 31,                   March 31,
                               ---------                   ---------
                           2009          2008          2009          2008
                           ----          ----          ----          ----

    REVENUES            $1,902,679      $464,292    $2,366,970      $928,583
                        ----------      --------    ----------      --------

    COSTS AND EXPENSES:
      Research and
       development      13,694,247     8,990,469    27,717,177    19,540,840
      General and
       administrative    2,893,504     3,809,073     6,962,874     6,428,818
                         ---------     
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SOURCE Pharmasset, Inc.
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