Pharmasset Reports Financial Results for Quarter Ended Jun...(echnology Index and the broad-market Rus...),Health

Index.

Highlights since the Quarter Ended June 30, 2008

-- Announced preliminary safety and efficacy results of Cohort 3 of a 4-

week Phase 1 study of R7128 1000mg twice daily (BID) in combination

with Pegasys(R) plus Copegus(R) for the treatment of HCV, in which

patients achieved a mean 5.0 log10 IU/mL decrease in HCV RNA and 88%

(22 of 25) of patients achieved undetectable HCV RNA levels following

4 weeks of treatment with blinded safety and tolerability similar to

the safety profile observed with the standard of care alone (Pegasys(R)

and Copegus(R)).

-- Raised $24.2 million in net proceeds after deducting placement agent

fees and estimated offering expenses by selling 1,450,000 shares of

common stock to a select group of institutional investors in a

"registered direct" public offering. The net proceeds from this

offering will be used for general corporate purposes.

-- Announced initiation of a combination study of clevudine and Viread(R)

for HBV by the French National Agency for Research on AIDS and Viral

Hepatitis (ANRS).

Anticipated Highlights

-- Announcing preliminary results of a 4-week combination study of R7128

1500 mg BID with Pegasys(R) plus Copegus(R) in treatment-experienced

patients with HCV genotypes 2 and 3 by the end of the third calendar

quarter of 2008.

-- Completing HBV patient enrollment for clevudine Phase 3 registration

studies in the second calendar half of 2008.

-- Submitting the draft protocol and supporting documentation for our 12-

week Phase 2b combination study of R7128 with Pegasys(R) plus

Copegus(R) to the FDA during November 2008.

About Pharmasset

Pharmasset is a clinical-stage pharmaceutical company committed to discovering, developing
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