BioCryst Reports Second Quarter 2009 Financial Results And Provides Corpor...( BIRMINGHAM Ala. July 30 /- BioC...),Health

BIRMINGHAM, Ala., July 30 /PRNewswire-FirstCall/ -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced financial results for the quarter and six months ended June 30, 2009 and provided a corporate update regarding clinical programs and potential emergency use of intravenous (i.v.) peramivir in the U.S.

"Our efforts at BioCryst remain focused on moving our leading peramivir and forodesine clinical development programs forward," said Jon P. Stonehouse, President and Chief Executive Officer of BioCryst Pharmaceuticals. "BioCryst continues to work diligently with government agencies to provide i.v. peramivir as a potential treatment option for an influenza emergency, as well as working to complete the U.S. development of peramivir through the traditional regulatory pathway. The successful Phase 3 studies conducted by our partner Shionogi add to the growing body of data characterizing the efficacy and safety of peramivir as a potential treatment for influenza."

Second Quarter Financial Results

For the three months ended June 30, 2009, collaborative and other research and development revenues were $4.8 million compared to $2.7 million for the three months ended June 30, 2008. Revenues related to the Company's contract with the U.S. Department of Health and Human Services (HHS) for the development of peramivir were higher in this year's quarter compared to the prior year period due to a $4.9 million reserve recorded against revenue in 2008 for amounts BioCryst had previously expected to receive from HHS. The increase in peramivir related revenues was offset by a reduction in revenue from the Company's collaborations with Mundipharma, as well as lower amortization of deferred revenue from our collaboration arrangements.

Research and development (R&D) expenses
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