BIOCRYST PHARMACEUTICALS INC — Director's Dealing 2014

Dec 31, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BIOCRYST PHARMACEUTICALS INC (BCRX)
CIK: 0000882796
Period of Report: 2014-12-29

Reporting Person: Sheridan William P (Senior VP - CMO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-12-29	Common Stock	M	17000	$5.45	Acquired	166417	Direct
2014-12-29	Common Stock	M	17000	$5.45	Acquired	183417	Direct
2014-12-29	Common Stock	M	14396	$1.42	Acquired	197813	Direct
2014-12-29	Common Stock	S	105295	$12.43	Disposed	92518	Direct
2014-12-30	Common Stock	M	23104	$1.42	Acquired	115622	Direct
2014-12-30	Common Stock	S	23104	$12.06	Disposed	92518	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-12-29	Emp. Stock Option (Right to Buy)	$5.45	M	17000	Disposed	2023-08-08	Common Stock (17000)	Direct
2014-12-29	Emp. Stock Option (Right to Buy)	$5.45	M	17000	Disposed	2023-08-08	Common Stock (17000)	Direct
2014-12-29	Emp. Stock Option (Right to Buy)	$1.42	M	14396	Disposed	2023-01-01	Common Stock (14396)	Direct
2014-12-30	Emp. Stock Option (Right to Buy)	$1.42	M	23104	Disposed	2023-01-01	Common Stock (23104)	Direct

Footnotes

F1: The price in column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $12.33 to $12.54. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding
the number of shares sold at each price within the range set forth in this footnote.

F2: The price in column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $11.77 to $12.40. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding
the number of shares sold at each price within the range set forth in this footnote.