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Pharmasset Reports Fiscal Second Quarter 2011 Financial Results
Date:4/25/2011

a very successful start to 2011, highlighted by the encouraging clinical data we presented at the EASL meeting in Berlin," stated Schaefer Price, President and Chief Executive Officer. "Recent data from our peers have demonstrated that an all oral combination of DAAs can lead to SVR in patients, as long as the combination has potent antiviral activity, a good safety profile and a high barrier to resistance. The promising early results from the Nuclear study have shown that a combination of 7977 and 938 could potentially meet all these requirements and we now look forward to exploring the potential for SVR with this combination in the QUANTUM study, planned to start later this year. We are rapidly developing PSI-7977 and PSI-938 and anticipate conducting at least four clinical trials in the second half that should help guide the future development path(s) of our nucleotide analogs."

Calendar Year 2011 Anticipated Milestones:-- Bristol-Myers Squibb plans on initiating a combination trial with BMS-790052 and PSI-7977 in the first half 2011

-- Roche expects to initiate a Phase 2 study with RG7128 in HCV genotype 2/3 patients in the first half of 2011

-- Report SVR data from PROTON trial with PSI-7977 in genotype 1 patients in second half 2011

-- Complete enrollment of ELECTRON with PSI-7977 in second quarter 2011

-- Initiate QUANTUM trial with PSI-7977 and PSI-938 in third quarter 2011.

-- Roche expects to initiate a Phase 3 program with RG7128 in 2011 and file for marketing approval in 2013

About PharmassetPharmasset is a clinical-stage pharmaceutical company committed to discovering, developing, and commercializing novel drugs to treat viral infections. Pharmasset's primary focus is on the development of oral therapeutics for the treatment of hepatitis C virus (HCV). Our research and development efforts focus on nucleoside/tide analogs, a class of compounds which act as alternative substrates for the viral poly
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SOURCE Pharmasset, Inc.
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