BIOCRYST PHARMACEUTICALS, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware

62-1413174

(State of Incorporation)

(I.R.S. Employer Identification No.)

Title of Securities
to be Registered

Amount to be
Registered (1)

Proposed Maximum
Offering Price Per Share (3)

Proposed Maximum
Aggregate Offering Price

Amount of
Registration Fee (4)

Common Stock, $0.01 par value

1,500,000

(2)

$

8.815

$

13,222,500

$

1,414.81

(1)

This Registration Statement shall also cover any additional shares of Common Stock which become issuable by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the receipt of consideration which results in an increase in the number of the Registrant’s outstanding shares of Common Stock.

(2)

Increase in authorized number of shares under the amended and restated Stock Incentive Plan above those previously covered by the 1991 Stock Option Plan.

(3)

Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(h) under the Securities Act of 1933, as amended, based upon the average of the high and low prices of the Registrant’s Common Stock on August 16, 2006, as reported on The Nasdaq National Market.

(4)

The registration fee for the securities registered hereby was calculated by multiplying the proposed maximum offering price by .000107 in accordance with Section 6(b) of the Securities Act and the related rules.