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

ities balance, as well as significantly lower yield earned on interest-bearing assets.

Net income for the fourth quarter of 2009 was $15.2 million, or $0.37 per basic share and $0.35 per diluted share, compared to net income of $10.1 million, or $0.26 per share for the fourth quarter of 2008.

As of December 31, 2009, the Company held cash, cash equivalents and investments of $94.3 million, an increase of $55.8 million during the fourth quarter of 2009.  The higher cash position was driven primarily by receipt of $45.7 million in net proceeds from the public offering of BioCryst common stock, as well as $22.5 million of peramivir product sales to HHS.  

The sale of 5,000,000 shares of BioCryst common stock was priced at $9.75 per share and the offering closed as planned on November 25, 2009.

Full Year 2009 Financial Results

Total revenues increased to $74.6 million for the year ended December 31, 2009 as compared to $56.6 million for the year ended December 31, 2008.  This change was driven by product sales to HHS and the milestone payment from Shionogi during the fourth quarter 2009, as well as higher revenues related to the contract with HHS for the development of peramivir.  These increases were offset by lower amortization of deferred revenue from our collaboration arrangements.  2008 revenue included the deferred revenue related to the termination of its collaboration with Roche mentioned above.
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SOURCE BioCryst Pharmaceuticals, Inc.
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10. BioCryst Provides Peramivir Update and Reports First Quarter 2009 Financial Results
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