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BioCryst Reports Fourth Quarter and Full Year 2009 Financial Results and Provides Corporate Update
Date:2/4/2010

S for the development of peramivir for patients hospitalized with influenza also increased as two global Phase 3 studies were initiated.  These increases in revenues were offset by lower amortization of deferred revenue from collaborations.  Specifically, $26.5 million of previously deferred revenue related to the termination of the Company's collaboration with Roche was recognized during the fourth quarter of 2008.

Research and development (R&D) expenses increased to $31.6 million for the fourth quarter of 2009 from $22.1 million in the prior year period.  The higher R&D expenses resulted from an increase in clinical development costs associated with our peramivir program and an increase in manufacturing costs as the Company completed the production of approximately 130,000 courses of peramivir.  In addition, clinical development costs increased during the current quarter as the Company initiated a Phase 2 study of BCX4208 for the treatment of gout.  These increases were offset by reductions in clinical development and manufacturing costs for the forodesine program.  During the fourth quarter 2008, the Company recognized $8.2 million of previously deferred expense from the termination of its collaboration with Roche.

General and administrative (G&A) expenses increased to $3.6 million for the fourth quarter of 2009 from $2.4 million for the fourth quarter of 2008, primarily due to increases in legal and consulting fees.

Interest income for the three months ended December 31, 2009 was $0.1 million as compared to $0.3 million for the same period of last year.  The decrease was driven by a lower average cash and secur
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SOURCE BioCryst Pharmaceuticals, Inc.
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