-- Continued building our antiviral clinical development team by adding
experienced senior leadership, including Dr. Michelle Berrey, Chief
Medical Officer and Dr. Michael Rogers, Chief Development Officer.
-- Completed an initial public offering (IPO) of 5,050,000 shares of
common stock at a price of $9.00 per share and began trading on the
NASDAQ Global Market under the symbol "VRUS." Net cash proceeds from
the IPO were $40.7 million.
-- Earned $20.0 million in milestone payments from Roche as part of a
collaboration for the development of R7128 for the treatment of chronic
-- Closed a $30 million working capital loan agreement.
Calendar Year 2008 Anticipated Milestones
-- Release preliminary safety and efficacy data from a Phase 1, Part 3
multiple ascending dose study of R7128 following 4 weeks of combination
therapy with Pegasys plus Copegus in the first calendar quarter of
-- Report final safety and efficacy data from a Phase 1, Part 3 multiple
ascending dose study of R7128 following 4 weeks of combination therapy
with Pegasys plus Copegus in the second calendar quarter of 2008.
-- Complete patient enrollment for clevudine Phase 3 registration clinical
trials in the second calendar half of 2008.
-- Initiate a Phase 2b combination study of R7128 with Pegasys plus
Copegus in the second calendar half of 2008, assuming the successful
completion of the on-going R7128 Phase 1 study and the timely
completion of all required Phase 2b study preparation activities.
Pharmasset is a clinical stage pharmaceutical company committed to
discovering, developing and commercializing novel drugs to treat viral
infections. Pharmasset's primary focus is on the development of oral
therapeutics for the treatment of hepatitis B
|SOURCE Pharmasset, Inc.|
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