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Pharmasset Reports Financial Results for Quarter Ended March 31, 2008
Date:5/15/2008

$464,292 $5,464,291

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COSTS AND EXPENSES:

Research and development 8,990,469 5,109,224

General and administrative 3,809,073 2,197,014

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Total costs and expenses 12,799,542 7,306,238

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OPERATING (LOSS) INCOME (12,335,250) (1,841,947)

INVESTMENT INCOME 585,048 390,093

INTEREST EXPENSE (386,161) (5,092)

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(LOSS) INCOME BEFORE INCOME TAXES (12,136,363) (1,456,946)

PROVISION FOR INCOME TAXES - -

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NET (LOSS) INCOME (12,136,363) (1,456,946)

REDEEMABLE PREFERRED STOCK ACCRETION - 286,834

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NET (LOSS) INCOME ATTRIBUTABLE TO

COMMON STOCKHOLDERS $(12,136,363) $(1,743,780)

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COMPREHENSIVE NET (LOSS) INCOME:

NET (LOSS) INCOME $(12,136,363) $(1,456,946)

UNREALIZED GAIN (LOSS) ON AVAILABLE-

FOR-SALE INVESTMENTS (29,572) 230

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COMPREHENSIVE NET (LOSS) INCOME: $(12,165,935) $(1,456,716)

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NET (LOSS) INCOME
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SOURCE Pharmasset, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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