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Pharmasset Reports Fiscal Year End 2008 Financial Results
Date:12/11/2008

led 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.
             STATEMENTS OF OPERATIONS AND COMPREHENSIVE NET LOSS


                                             Years Ended September 30,
                                           2008        2007          2006

          REVENUES                      $1,857,166  $22,009,458    $5,424,614

          COSTS AND EXPENSES:
            Research and development    42,995,459   20,318,910    10,497,703
            General and
             administrative             13,289,321    9,210,623     7,911,545

                     Total costs and
                      expenses          56,284,780   29,529,533    18,409,248

          OPERATING LOSS               (54,427,614)  (7,520,075)  (12,984,634)

          INVESTMENT INCOME              1,986,276    2,470,563     1,658,977
          INTEREST EXPENSE              (2,216,373)     (15,136)          -

          LOSS BEFORE INCOME TAXES     (54,657,711)  (5,064,648)  (11,325,657)
          PROVISION FOR INCOME TAXES           -            -             -

          NET LOSS                     (54,657,711)  (5,064,648)  (11,325,657)
          REDEEMABLE PREFERRED STOCK
           ACCRETION                           -      1,775,684     1,110,973

          NET LOSS ATTRIBUTABLE TO
           COMMON STOCKHOLDERS        $(54,657,711) $(6,840,332) $(12,436,630)

          COMPREHENSIVE NET LOSS:
          NET LOSS                    $(54,657,711) $(5,064,648) $(11,325,657)
          UNREALIZED GAIN (LOSS) ON
           AVAILABLE-FOR-SALE
           INVESTMENTS                      (7,009)       2,100       (56,465)
          COMPREHENSIVE NET LOSS      $(54,664,720) $(5,062,548) $(11,382,122)


          NET LOSS ATTRIBUTABLE TO

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

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