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

0 -------- -------- ------- Operating loss (52,624) (54,428) (7,521) Investment income 221 1,986 2,471 Interest expense (3,190) (2,216) (15) -------- -------- ------- Loss before income taxes (55,593) (54,658) (5,065) Provision for income taxes - - - -------- -------- ------- Net loss (55,593) (54,658) (5,065) Redeemable preferred stock accretion - - 1,776 -------- -------- ------- Net loss attributable to common stockholders $(55,593) $(54,658) $(6,841) ======== ======== ======= COMPREHENSIVE NET LOSS: Net loss $(55,593) $(54,658) $(5,065) Unrealized gain (loss) on available-for-sale investments - (7) 2 -------- -------- ------- Comprehensive net loss $(55,593) $(54,665) $(5,063) ======== ======== ======= NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS PER SHARE: Basic $(2.10) $(2.51) $(0.46) Diluted $(2.10) $(2.51) $(0.46) WEIGHTED AVERAGE SHARES OUTSTANDING: Basic 26,479,532 21,808,283 14,990,472 Diluted 26,479,532 21,808,283 14,990,472

                             PHARMASSET, INC.
                              BALANCE SHEETS
      (in thousands, except par value, share and per share amounts)

                      
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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
11. Pharmasset to Present at the UBS Global Life Sciences Conference on Wednesday, September 24th
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