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Pharmasset Reports First Fiscal Quarter 2008 Financial Results
Date:2/14/2008

s with the Securities and Exchange Commission.

PHARMASSET, INC.

STATEMENTS OF OPERATIONS AND COMPREHENSIVE NET INCOME (LOSS)

(UNAUDITED)

Three Months Ended

December 31,

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2007 2006

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REVENUES $464,291 $8,116,584

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COSTS AND EXPENSES:

Research and development 10,550,371 2,561,485

General and administrative 2,619,745 2,055,038

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Total costs and expenses 13,170,116 4,616,523

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OPERATING INCOME (LOSS) (12,705,825) 3,500,061

INVESTMENT INCOME 896,402 408,986

INTEREST EXPENSE (363,176) (1,841)

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INCOME (LOSS) BEFORE INCOME TAXES (12,172,599) 3,907,206

PROVISION FOR INCOME TAXES - -

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NET INCOME (LOSS) (12,172,599) 3,907,206

REDEEMABLE PREFERRED STOCK

ACCRETION - 284,197

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SOURCE Pharmasset, Inc.
Copyright©2008 PR Newswire.
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