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Pharmasset Reports Fiscal Year End 2009 Financial Results
Date:11/25/2009

sks and uncertainties, including, without limitation, the risk that adverse events could cause the cessation or delay of any of the ongoing or planned clinical trials and/or our development of our product candidates, the risk that the results of previously conducted studies involving our product candidates will not be repeated or observed in ongoing or future studies involving our product candidates, the risk that our collaboration with Roche will not continue or will not be successful and the risk that any one or more of our product 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, 2009 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.
            STATEMENTS OF OPERATIONS AND COMPREHENSIVE NET LOSS
            (in thousands, expect share and per share amounts)



                                              Years Ended September 30,
                                              -------------------------
                                            2009        2008        2007
                                            ----        ----        ----

Revenues                                 $13,293      $1,857     $22,009
                                        --------    --------     -------

COSTS AND EXPENSES:
  Research and development                52,552      42,996      20,319
  General and administrative              13,365      13,289       9,211
                                        --------    --------     -------

           Total costs and expenses       65,917      56,285      29,53
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1. Pharmasset Announces the Continued Enrollment of the Phase 2b Clinical Trial of RG7128 for the Treatment of Hepatitis C
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5. Roche and Pharmasset Initiate Phase IIb Clinical Trial of R7128, Most Advanced Nucleoside Polymerase Inhibitor in Development for Chronic Hepatitis C
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10. Richard E.T. Smith, Ph.D. Joins Pharmasset as Vice President of Investor Relations and Corporate Communications
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