BIOCRYST PHARMACEUTICALS INC — Director's Dealing 2011

May 5, 2011

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: BIOCRYST PHARMACEUTICALS INC (BCRX)
CIK: 0000882796
Period of Report: 2011-05-03

Reporting Person: Jensen Peder (Director)

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Automatic Stock Option Grant	$3.62	2021-05-03	Common Stock (2083)		Direct

Footnotes

F1: Automatic grant pursuant to the BioCryst Pharmaceuticals, Inc. Stock Incentive Plan (the "Plan").

F2: Pursuant to the Plan, this grant will fully vest on the date of the BioCryst Pharmaceuticals, Inc. annual meeting of stockholders.