Function of the Committee

The role of the Audit Committee (the "Committee"), acting on behalf of the Board of Directors (the "Board") is to (a) assist the Board in its oversight of (i) the integrity of the financial statements of BioCryst Pharmaceuticals, Inc. (the "Company"), (ii) the Company's compliance with legal and regulatory requirements, (iii) the outside auditor's qualifications and independence, and (iv) the performance of the outside auditors; and (b) prepare such reports and filings with respect to the Committee as the Securities and Exchange Commission ("SEC") may require from time to time be included in the Company's annual proxy statement. The Committee may also have such other duties as may from time to time be specifically delegated to the Committee by the Board.

While the Committee has the powers and responsibilities set forth in this Charter and the Company's Certificate of Incorporation, it is not the responsibility of the Committee to plan or conduct audits or to determine that the Company's financial statements are complete and accurate or are in compliance with generally accepted accounting principles. These activities are the responsibility of management and the outside auditor.

In its oversight role, the Committee may investigate any matter brought to its attention concerning accounting, financial reporting, internal control and audit practices of the Company and shall have full access to Company books, records and personnel.