SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report: October 20, 2004

BioCryst Pharmaceuticals, Inc.

(Exact Name of Registrant as Specified in Charter)

Delaware
(State or other jurisdiction
of incorporation)
   000-23186
(Commission
File Number)
   62-1413174
(IRS Employer
Identification #)  

2190 Parkway Lake Drive, Birmingham, Alabama 35244
(Address of Principal Executive Office)

(205) 444-4600
(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

|_|   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13a-4(c))


Item 2.02. Results of Operations and Financial Condition:

        On October 20, 2004, the Company issued a news release announcing its financial results for the quarter ended September 30, 2004. A copy of the news release is furnished as exhibit 99.1 hereto and is incorporated by reference into Item 9.01 of Form 8-K.

Item 9.01. Financial Statements and Exhibits:

Exhibit No.   Description                                                         
  99.1   Press release dated October 20, 2004 entitled “BioCryst Reports Third Quarter 2004 Financial Results”



SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: October 20, 2004      BioCryst Pharmaceuticals, Inc.
      By: /s/ Michael A. Darwin
    
        Michael A. Darwin
Chief Financial Officer and Chief
Accounting Officer
 

EXHIBIT INDEX

Item   Description                                                                                  
99.1   Press release dated October 20, 2004 entitled “BioCryst Reports Third Quarter 2004 Financial Results”