General and administrative (G&A) expenses increased to $3.1 million for the third quarter of 2009 from $2.5 million for last year's third quarter, primarily due to increases in legal and consulting fees.

Interest income for the third quarter 2009 was $0.1 million as compared to $0.6 million for the same period last year. The decrease was driven by a lower average cash and securities balance as well as a significantly lower yield earned on interest-bearing assets.

The net loss for the third quarter of 2009 was $10.6 million, or $0.28 per share, compared to a net loss of $9.0 million, or $0.24 per share for the third quarter of 2008.

As of September 30, 2009, the Company held cash, cash equivalents and investments of $38.5 million, a decrease of $3.8 million during the third quarter of 2009. This reduction is net of $5.0 million that was returned by HHS relative to the purchase of excess active pharmaceutical ingredient (API). In July 2009, BioCryst indicated that it was in the process of purchasing excess peramivir API from HHS as permitted under the development contract. HHS is completing its review of this excess in light of the peramivir clinical development plan, as well as the calculation for the acquisition cost for the purchase. Pending completion of that review, HHS has returned the payment to BioCryst. HHS acknowledges that at least half of the API is excess. When HHS has completed its review, we will determine the final acquisition process for the API.

SOURCE BioCryst Pharmaceuticals, Inc.