Pharmasset Reports Financial Results for Quarter Ended Jun...(uct candidates will not besuccessfully d...),Health

Date:8/14/2008

uct candidates will not be successfully developed and commercialized. For a discussion of these risks and uncertainties, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the section of our Annual Report on Form 10-K for the fiscal year ended September 30, 2007 filed with the Securities and Exchange Commission entitled "Risk Factors" and discussions of potential risks and uncertainties in our subsequent filings with the Securities and Exchange Commission.

PHARMASSET, INC.

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE NET LOSS

(UNAUDITED)

Three Months Ended

June 30,

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2008 2007

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REVENUES: $464,291 $464,291

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COSTS AND EXPENSES:

Research and development 11,499,843 4,426,252

General and administrative 3,473,635 2,640,655

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Total costs and expenses 14,973,478 7,066,907

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OPERATING LOSS (14,509,187) (6,602,616)

INVESTMENT INCOME 216,287 744,938

INTEREST EXPENSE (735,543) (4,435)

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SOURCE Pharmasset, Inc. Copyright©2008 PR Newswire. All rights reserved

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