BIOCRYST PHARMACEUTICALS INC — Director's Dealing 2011

May 16, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BIOCRYST PHARMACEUTICALS INC (BCRX)
CIK: 0000882796
Period of Report: 2011-05-12

Reporting Person: SANDERS CHARLES A (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-12	Non-Qualified Stock Option	$3.56	A	15000	Acquired	2021-05-12	Common Stock (15000)	Direct

Footnotes

F1: Automatic non-employee director grant pursuant to the BioCryst Pharmaceuticals, Inc. Stock Incentive Plan.

F2: The option vests 1/12 per month for a period of 12 months, beginning on June 13, 2011.