Pharmasset, Inc. Files Registration Statement For $75 Million IPO

PRINCETON, N.J., May 9 /PRNewswire/ -- Pharmasset announced yesterday that it filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of common stock. The number of shares to be offered for sale and the price per share range have not yet been determined. Pharmasset will issue all new shares of common stock for the proposed initial public offering.

The underwriters of the proposed offering will be Banc of America Securities LLC and UBS Investment Bank, acting as joint book-running managers, and JMP Securities serving as co-manager. The proposed offering will be made only by means of a prospectus. Once available, a copy of the preliminary prospectus relating to the proposed offering may be obtained from Banc of America Securities LLC, Prospectus Department, 100 West 33rd Street, New York, New York 10001. The Prospectus Department's telephone number is (646) 733-4166.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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

Contact: Alan Roemer, Vice President Finance & Investor Relations (609) 613-4125

Pharmasset, Inc.

CONTACT: Alan Roemer, Vice President, Finance & Investor Relations ofPharmasset, +1-609-613-4125, or

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