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Pharmasset, Inc. (VRUS) Prices Initial Public Offering


4/27/2007 9:33:42 AM

PRINCETON, N.J., April 26 /PRNewswire-FirstCall/ -- Pharmasset, Inc. (Nasdaq: VRUS - News) announced today that it has priced its initial public offering of 5,000,000 shares of common stock at $9.00 per share. All of the common stock is being offered by Pharmasset, and the common stock will trade on the NASDAQ Global Market under the symbol "VRUS."

Pharmasset has granted the underwriters an option to purchase up to an additional 750,000 shares to cover over-allotments, if any. The joint book- running managers of the offering are Banc of America Securities LLC and UBS Investment Bank, and JMP Securities is acting as co-manager.

Copies of the final prospectus relating to the offering may be obtained from Banc of America Securities LLC, Prospectus Fulfillment, 100 West 33rd Street, Third Floor, New York, New York 10001 or by e-mail at dg.prospectus_distribution@bofasecurities.com, or from UBS Investment Bank, Prospectus Department, 299 Park Avenue, New York, New York, 10171 or by telephone at (212) 821-3300.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on April 26, 2007. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering of these securities will be made by means of a prospectus.

About Pharmasset

Pharmasset 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 B virus (HBV), hepatitis C virus (HCV) and human immunodeficiency virus (HIV).

Contact: Alan S. Roemer alan.roemer@pharmasset.com Office: (609) 613-4125

Source: Pharmasset, Inc.

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