Pharmasset Reports Financial Results for Quarter Ended Jun...(------------- LOSS BEFORE INCOME TAXE...),Health

LOSS BEFORE INCOME TAXES (15,028,443) (5,862,113)

PROVISION FOR INCOME TAXES - -

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NET LOSS (15,028,443) (5,862,113)

REDEEMABLE PREFERRED STOCK ACCRETION - 1,204,653

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NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS $(15,028,443) $(7,066,766)

==========================

COMPREHENSIVE NET LOSS:

NET LOSS $(15,028,443) $(5,862,113)

UNREALIZED GAIN (LOSS) ON AVAILABLE-FOR-SALE

INVESTMENTS 12,503 -

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COMPREHENSIVE NET LOSS $(15,015,940) $(5,862,113)

==========================

NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS

PER SHARE:

BASIC $(0.69) $(0.40)

DILUTED $(0.69) $(0.40)

WEIGHTED AVERAGE SHARES OUTSTANDING:

BASIC 21,635,205 17,558,466

DILUTED 21,635,205 17,558,466

PHARMASSET, INC.

CONDENSED BALANCE SHEETS

As of

June 30, As of

2008 September 30,

(unaudited) 2007'/>"/>