UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
SCHEDULE 13D
Under the Securities Exchange Act of 1934
 
(Amendment No. _1_)
 
BIOCRYST PHARMACEUTICALS, INC.
(Name of Issuer)
     
Common Stock, par value $0.01 per share
(Title of Class of Securities)
     
 
09058V-10-3
 
 
(CUSIP Number)
 
     
Leo Kirby
667 Madison Avenue, 19th Floor
New York, NY 10021
(212) 521-2418
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
     
 
March 13, 2006
 
 
(Date of Event which Requires Filing of this Statement)
 
     

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. X
 
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.
 
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
 
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (the “Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
 

Page 1 of 11



SCHEDULE 13D
 
CUSIP No.       09058V-10-3            
 
Page    of   11  Pages
 
 
1
 
NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Julian C. Baker
 
2
 
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) X
 
(b) 
 
3
 
SEC USE ONLY
 
4
 
SOURCE OF FUNDS (See Instructions)
WC
5
 
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
 
 o
6
 
CITIZENSHIP OR PLACE OF ORGANIZATION
United States
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
 
7
 
SOLE VOTING POWER
0
 
8
 
SHARED VOTING POWER
1,774,838
 
9
 
SOLE DISPOSITIVE POWER
0
 
10
 
SHARED DISPOSITIVE POWER
1,774,838
 
11
 
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,774,838
 
12
 
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 o
13
 
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.1% 
 
14
 
TYPE OF REPORTING PERSON (See Instructions)
IN
 


Page 2 of 11


SCHEDULE 13D
 
CUSIP No.       09058V-10-3       
 
 
Page   3   of   11  Pages

1
 
NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Felix J. Baker
 
2
 
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 
(a) X
 
(b) 
 
3
 
SEC USE ONLY
 
4
 
SOURCE OF FUNDS (See Instructions)
WC
 
5
 
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
 
 o
6
 
CITIZENSHIP OR PLACE OF ORGANIZATION
United States
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
 
7
 
SOLE VOTING POWER
0
 
8
 
SHARED VOTING POWER
1,774,838
 
9
 
SOLE DISPOSITIVE POWER
0
 
10
 
SHARED DISPOSITIVE POWER
1,774,838
 
11
 
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,774,838
 
12
 
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 o
13
 
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.1%
 
14
 
TYPE OF REPORTING PERSON (See Instructions)
IN
 

This Amendment No.1 to Schedule 13D is being filed by Julian C. Baker and Felix J. Baker (the “Reporting Persons”) to supplement the statements on Schedule 13D previously filed by them, as heretofore amended. Except as supplemented herein, such statements, as heretofore amended and supplemented, remain in full force and effect.
 
Page 3 of 11

Item 5. Interest in Securities of the Issuer.
 
Set forth in the table below is the aggregate number of shares of Common Stock beneficially owned as of the date hereof by each of the following, together with the percentage of outstanding shares of Common Stock that such number represents based upon 28,980,228 shares outstanding as reported on the company’s SEC Form 10K filed on March 3, 2006
 
Name
Number of Shares
Percent of Class
Outstanding
Baker Bros Investments, L.P.
53,960
0.2%
Baker Bros. Investments II, L.P.
51,998
0.2%
Baker/Tisch Investments, L.P.
43,907
0.2%
Baker Biotech Fund I, L.P.
532,590
1.8%
Baker Biotech Fund II, L.P.
486,752
1.7%
Baker Biotech Fund II (Z), L.P.
67,285
0.2%
Baker Biotech Fund III, L.P.
422,168
1.5%
Baker Biotech Fund III (Z), L.P.
82,529
0.3%
14159, L.P.
33,649
0.1%
Total
1,774,838
6.1%
By virtue of their ownership of entities that have the power to control the investment decisions of the limited partnerships listed in the table above, Julian C. Baker and Felix J. Baker may each be deemed to be beneficial owners of shares owned by such entities and may be deemed to have shared power to vote or direct the vote of and shared power to dispose or direct the disposition of such securities.
 
The following transactions in Common Stock were effected by the entities noted below since the most recent filing on schedule 13D. None of the reporting Persons has effected any other transactions in Common Stock since the most recent filing on schedule 13D.
 
 
Page 4 of 11

 
Name
 
Date
 
Number of Shares
 
Transaction
 
Price/Share
 
Aggregate Amount
 
Baker Tisch Investments, LP
   
2/28/2006
   
3,754
   
Sale
   
20.19
 
$
75,793
 
Baker Bros. Investments, LP
   
2/28/2006
   
4,613
   
Sale
   
20.19
 
$
93,136
 
Baker Bros. Investments II, LP
   
2/28/2006
   
4,444
   
Sale
   
20.19
 
$
89,724
 
Baker Biotech Fund I, LP
   
2/28/2006
   
45,525
   
Sale
   
20.19
 
$
919,149
 
Baker Biotech Fund II, LP
   
2/28/2006
   
41,606
   
Sale
   
20.19
 
$
840,025
 
Baker Biotech Fund II (Z), LP
   
2/28/2006
   
5,751
   
Sale
   
20.19
 
$
116,113
 
Baker Biotech Fund III, LP
   
2/28/2006
   
36,086
   
Sale
   
20.19
 
$
728,576
 
Baker Biotech Fund III (Z), LP
   
2/28/2006
   
7,054
   
Sale
   
20.19
 
$
142,420
 
14159, LP
   
2/28/2006
   
2,876
   
Sale
   
20.19
 
$
58,066
 

 
Name
 
Date
 
Number of Shares
 
Transaction
 
Price/Share
 
Aggregate Amount
 
Baker Tisch Investments, LP
   
2/28/2006
   
356
   
Sale
   
21.15
 
$
7,529
 
Baker Bros. Investments, LP
   
2/28/2006
   
438
   
Sale
   
21.15
 
$
9,264
 
Baker Bros. Investments II, LP
   
2/28/2006
   
422
   
Sale
   
21.15
 
$
8,925
 
Baker Biotech Fund I, LP
   
2/28/2006
   
4,321
   
Sale
   
21.15
 
$
91,389
 
Baker Biotech Fund II, LP
   
2/28/2006
   
3,949
   
Sale
   
21.15
 
$
83,521
 
Baker Biotech Fund II (Z), LP
   
2/28/2006
   
546
   
Sale
   
21.15
 
$
11,548
 
Baker Biotech Fund III, LP
   
2/28/2006
   
3,425
   
Sale
   
21.15
 
$
72,439
 
Baker Biotech Fund III (Z), LP
   
2/28/2006
   
670
   
Sale
   
21.15
 
$
14,171
 
14159, LP
   
2/28/2006
   
273
   
Sale
   
21.15
 
$
5,774
 
     
 
         
 
             
Baker Tisch Investments, LP
   
3/1/2006
   
384
   
Sale
   
20.3
 
$
7,795
 
Baker Bros. Investments, LP
   
3/1/2006
   
472
   
Sale
   
20.3
 
$
9,582
 
Baker Bros. Investments II, LP
   
3/1/2006
   
455
   
Sale
   
20.3
 
$
9,237
 
Baker Biotech Fund I, LP
   
3/1/2006
   
4,661
   
Sale
   
20.3
 
$
94,618
 
Baker Biotech Fund II, LP
   
3/1/2006
   
4,259
   
Sale
   
20.3
 
$
86,458
 
Baker Biotech Fund II (Z), LP
   
3/1/2006
   
589
   
Sale
   
20.3
 
$
11,957
 
Baker Biotech Fund III, LP
   
3/1/2006
   
3,694
   
Sale
   
20.3
 
$
74,988
 
Baker Biotech Fund III (Z), LP
   
3/1/2006
   
722
   
Sale
   
20.3
 
$
14,657
 
14159, LP
   
3/1/2006
   
295
   
Sale
   
20.3
 
$
5,989
 
                                 
 
Page 5 of 11

Name
 
Date
 
Number of Shares
 
Transaction
 
Price/Share
 
Aggregate Amount
 
Baker Tisch Investments, LP
   
3/2/2006
   
618
   
Sale
   
20.57
 
$
12,712
 
Baker Bros. Investments, LP
   
3/2/2006
   
760
   
Sale
   
20.57
 
$
15,633
 
Baker Bros. Investments II, LP
   
3/2/2006
   
732
   
Sale
   
20.57
 
$
15,057
 
Baker Biotech Fund I, LP
   
3/2/2006
   
7,502
   
Sale
   
20.57
 
$
154,316
 
Baker Biotech Fund II, LP
   
3/2/2006
   
6,856
   
Sale
   
20.57
 
$
141,028
 
Baker Biotech Fund II (Z), LP
   
3/2/2006
   
948
   
Sale
   
20.57
 
$
19,500
 
Baker Biotech Fund III, LP
   
3/2/2006
   
5,947
   
Sale
   
20.57
 
$
122,330
 
Baker Biotech Fund III (Z), LP
   
3/2/2006
   
1,162
   
Sale
   
20.57
 
$
23,902
 
14159, LP
   
3/2/2006
   
475
   
Sale
   
20.57
 
$
9,771
 
     
 
         
 
             
Baker Tisch Investments, LP
   
3/3/2006
   
665
   
Sale
   
20.79
 
$
13,825
 
Baker Bros. Investments, LP
   
3/3/2006
   
818
   
Sale
   
20.79
 
$
17,006
 
Baker Bros. Investments II, LP
   
3/3/2006
   
788
   
Sale
   
20.79
 
$
16,383
 
Baker Biotech Fund I, LP
   
3/3/2006
   
8,076
   
Sale
   
20.79
 
$
167,900
 
Baker Biotech Fund II, LP
   
3/3/2006
   
7,381
   
Sale
   
20.79
 
$
153,451
 
Baker Biotech Fund II (Z), LP
   
3/3/2006
   
1,020
   
Sale
   
20.79
 
$
21,206
 
Baker Biotech Fund III, LP
   
3/3/2006
   
6,401
   
Sale
   
20.79
 
$
133,077
 
Baker Biotech Fund III (Z), LP
   
3/3/2006
   
1,251
   
Sale
   
20.79
 
$
26,008
 
14159, LP
   
3/3/2006
   
512
   
Sale
   
20.79
 
$
10,644
 
     
 
         
 
             
Baker Tisch Investments, LP
   
3/8/2006
   
131
   
Sale
   
19.04
 
$
2,494
 
Baker Bros. Investments, LP
   
3/8/2006
   
161
   
Sale
   
19.04
 
$
3,065
 
Baker Bros. Investments II, LP
   
3/8/2006
   
155
   
Sale
   
19.04
 
$
2,951
 
Baker Biotech Fund I, LP
   
3/8/2006
   
1,588
   
Sale
   
19.04
 
$
30,235
 
Baker Biotech Fund II, LP
   
3/8/2006
   
1,451
   
Sale
   
19.04
 
$
27,627
 
Baker Biotech Fund II (Z), LP
   
3/8/2006
   
201
   
Sale
   
19.04
 
$
3,827
 
Baker Biotech Fund III, LP
   
3/8/2006
   
1,259
   
Sale
   
19.04
 
$
23,971
 
Baker Biotech Fund III (Z), LP
   
3/8/2006
   
246
   
Sale
   
19.04
 
$
4,684
 
14159, LP
   
3/8/2006
   
99
   
Sale
   
19.04
 
$
1,885
 
                                 
                                 
                                 
                                 


Page 6 of 11


Name
 
Date
 
Number of Shares
 
Transaction
 
Price/Share
 
Aggregate Amount
 
Baker Tisch Investments, LP
   
3/9/2006
   
666
   
Sale
   
20.15
 
$
13,420
 
Baker Bros. Investments, LP
   
3/9/2006
   
818
   
Sale
   
20.15
 
$
16,483
 
Baker Bros. Investments II, LP
   
3/9/2006
   
788
   
Sale
   
20.15
 
$
15,878
 
Baker Biotech Fund I, LP
   
3/9/2006
   
8,072
   
Sale
   
20.15
 
$
162,650
 
Baker Biotech Fund II, LP
   
3/9/2006
   
7,377
   
Sale
   
20.15
 
$
148,647
 
Baker Biotech Fund II (Z), LP
   
3/9/2006
   
1,020
   
Sale
   
20.15
 
$
20,553
 
Baker Biotech Fund III, LP
   
3/9/2006
   
6,399
   
Sale
   
20.15
 
$
128,940
 
Baker Biotech Fund III (Z), LP
   
3/9/2006
   
1,251
   
Sale
   
20.15
 
$
25,208
 
14159, LP
   
3/9/2006
   
509
   
Sale
   
20.15
 
$
10,256
 
     
 
                         
Baker Tisch Investments, LP
   
3/13/2006
   
2,022
   
Sale
   
19.73
 
$
39,894
 
Baker Bros. Investments, LP
   
3/13/2006
   
2,483
   
Sale
   
19.73
 
$
48,990
 
Baker Bros. Investments II, LP
   
3/13/2006
   
2,393
   
Sale
   
19.73
 
$
47,214
 
Baker Biotech Fund I, LP
   
3/13/2006
   
24,509
   
Sale
   
19.73
 
$
483,562
 
Baker Biotech Fund II, LP
   
3/13/2006
   
22,401
   
Sale
   
19.73
 
$
441,972
 
Baker Biotech Fund II (Z), LP
   
3/13/2006
   
3,097
   
Sale
   
19.73
 
$
61,104
 
Baker Biotech Fund III, LP
   
3/13/2006
   
19,429
   
Sale
   
19.73
 
$
383,334
 
Baker Biotech Fund III (Z), LP
   
3/13/2006
   
3,798
   
Sale
   
19.73
 
$
74,935
 
14159, LP
   
3/13/2006
   
1,546
   
Sale
   
19.73
 
$
30,503
 
     
 
         
 
             
     
 
         
 
             
Baker Tisch Investments, LP
   
3/13/2006
   
2,155
   
Sale
   
19.69
 
$
42,431
 
Baker Bros. Investments, LP
   
3/13/2006
   
2,648
   
Sale
   
19.69
 
$
52,139
 
Baker Bros. Investments II, LP
   
3/13/2006
   
2,552
   
Sale
   
19.69
 
$
50,249
 
Baker Biotech Fund I, LP
   
3/13/2006
   
26,136
   
Sale
   
19.69
 
$
514,617
 
Baker Biotech Fund II, LP
   
3/13/2006
   
23,887
   
Sale
   
19.69
 
$
470,335
 
Baker Biotech Fund II (Z), LP
   
3/13/2006
   
3,302
   
Sale
   
19.69
 
$
65,016
 
Baker Biotech Fund III, LP
   
3/13/2006
   
20,718
   
Sale
   
19.69
 
$
407,937
 
Baker Biotech Fund III (Z), LP
   
3/13/2006
   
4,050
   
Sale
   
19.69
 
$
79,745
 
14159, LP
   
3/13/2006
   
1,652
   
Sale
   
19.69
 
$
32,528
 
     
 
                         
                                 
                                 


Page 7 of 11


Name
 
Date
 
Number of Shares
 
Transaction
 
Price/Share
 
Aggregate Amount
 
Baker Tisch Investments, LP
   
3/14/2006
   
668
   
Sale
   
19.54
 
$
13,053
 
Baker Bros. Investments, LP
   
3/14/2006
   
821
   
Sale
   
19.54
 
$
16,042
 
Baker Bros. Investments II, LP
   
3/14/2006
   
791
   
Sale
   
19.54
 
$
15,456
 
Baker Biotech Fund I, LP
   
3/14/2006
   
8,102
   
Sale
   
19.54
 
$
158,313
 
Baker Biotech Fund II, LP
   
3/14/2006
   
7,404
   
Sale
   
19.54
 
$
144,674
 
Baker Biotech Fund II (Z), LP
   
3/14/2006
   
1,024
   
Sale
   
19.54
 
$
20,009
 
Baker Biotech Fund III, LP
   
3/14/2006
   
6,422
   
Sale
   
19.54
 
$
125,486
 
Baker Biotech Fund III (Z), LP
   
3/14/2006
   
1,255
   
Sale
   
19.54
 
$
24,523
 
14159, LP
   
3/14/2006
   
511
   
Sale
   
19.54
 
$
9,985
 
     
 
         
 
             
Baker Tisch Investments, LP
   
3/14/2006
   
549
   
Sale
   
19.5
 
$
10,706
 
Baker Bros. Investments, LP
   
3/14/2006
   
674
   
Sale
   
19.5
 
$
13,143
 
Baker Bros. Investments II, LP
   
3/14/2006
   
649
   
Sale
   
19.5
 
$
12,656
 
Baker Biotech Fund I, LP
   
3/14/2006
   
6,650
   
Sale
   
19.5
 
$
129,673
 
Baker Biotech Fund II, LP
   
3/14/2006
   
6,077
   
Sale
   
19.5
 
$
118,502
 
Baker Biotech Fund II (Z), LP
   
3/14/2006
   
840
   
Sale
   
19.5
 
$
16,380
 
Baker Biotech Fund III, LP
   
3/14/2006
   
5,271
   
Sale
   
19.5
 
$
102,785
 
Baker Biotech Fund III (Z), LP
   
3/14/2006
   
1,030
   
Sale
   
19.5
 
$
20,085
 
14159, LP
   
3/14/2006
   
420
   
Sale
   
19.5
 
$
8,190
 
     
 
         
 
             
Baker Tisch Investments, LP
   
3/14/2006
   
1,187
   
Sale
   
19.49
 
$
23,135
 
Baker Bros. Investments, LP
   
3/14/2006
   
1,459
   
Sale
   
19.49
 
$
28,436
 
Baker Bros. Investments II, LP
   
3/14/2006
   
1,405
   
Sale
   
19.49
 
$
27,383
 
Baker Biotech Fund I, LP
   
3/14/2006
   
14,393
   
Sale
   
19.49
 
$
280,519
 
Baker Biotech Fund II, LP
   
3/14/2006
   
13,155
   
Sale
   
19.49
 
$
256,391
 
Baker Biotech Fund II (Z), LP
   
3/14/2006
   
1,818
   
Sale
   
19.49
 
$
35,433
 
Baker Biotech Fund III, LP
   
3/14/2006
   
11,409
   
Sale
   
19.49
 
$
222,361
 
Baker Biotech Fund III (Z), LP
   
3/14/2006
   
2,230
   
Sale
   
19.49
 
$
43,463
 
14159, LP
   
3/14/2006
   
909
   
Sale
   
19.49
 
$
17,716
 
                                 
                                 
                                 
                                 
 
Page 8 of 11

Name
 
Date
 
Number of Shares
 
Transaction
 
Price/Share
 
Aggregate Amount
 
Baker Tisch Investments, LP
   
3/15/2006
   
307
   
Sale
   
19.06
 
$
5,851
 
Baker Bros. Investments, LP
   
3/15/2006
   
377
   
Sale
   
19.06
 
$
7,186
 
Baker Bros. Investments II, LP
   
3/15/2006
   
363
   
Sale
   
19.06
 
$
6,919
 
Baker Biotech Fund I, LP
   
3/15/2006
   
3,721
   
Sale
   
19.06
 
$
70,922
 
Baker Biotech Fund II, LP
   
3/15/2006
   
3,401
   
Sale
   
19.06
 
$
64,823
 
Baker Biotech Fund II (Z), LP
   
3/15/2006
   
470
   
Sale
   
19.06
 
$
8,958
 
Baker Biotech Fund III, LP
   
3/15/2006
   
2,949
   
Sale
   
19.06
 
$
56,208
 
Baker Biotech Fund III (Z), LP
   
3/15/2006
   
577
   
Sale
   
19.06
 
$
10,998
 
14159, LP
   
3/15/2006
   
235
   
Sale
   
19.06
 
$
4,479
 
     
 
         
 
             
Baker Tisch Investments, LP
   
3/15/2006
   
388
   
Sale
   
19.25
 
$
7,469
 
Baker Bros. Investments, LP
   
3/15/2006
   
475
   
Sale
   
19.25
 
$
9,144
 
Baker Bros. Investments II, LP
   
3/15/2006
   
457
   
Sale
   
19.25
 
$
8,797
 
Baker Biotech Fund I, LP
   
3/15/2006
   
4,697
   
Sale
   
19.25
 
$
90,417
 
Baker Biotech Fund II, LP
   
3/15/2006
   
4,293
   
Sale
   
19.25
 
$
82,640
 
Baker Biotech Fund II (Z), LP
   
3/15/2006
   
593
   
Sale
   
19.25
 
$
11,415
 
Baker Biotech Fund III, LP
   
3/15/2006
   
3,723
   
Sale
   
19.25
 
$
71,668
 
Baker Biotech Fund III (Z), LP
   
3/15/2006
   
729
   
Sale
   
19.25
 
$
14,033
 
14159, LP
   
3/15/2006
   
299
   
Sale
   
19.25
 
$
5,756
 
     
 
         
 
             
Baker Tisch Investments, LP
   
3/15/2006
   
236
   
Sale
   
19.23
 
$
4,538
 
Baker Bros. Investments, LP
   
3/15/2006
   
288
   
Sale
   
19.23
 
$
5,538
 
Baker Bros. Investments II, LP
   
3/15/2006
   
279
   
Sale
   
19.23
 
$
5,365
 
Baker Biotech Fund I, LP
   
3/15/2006
   
2,851
   
Sale
   
19.23
 
$
54,824
 
Baker Biotech Fund II, LP
   
3/15/2006
   
2,605
   
Sale
   
19.23
 
$
50,094
 
Baker Biotech Fund II (Z), LP
   
3/15/2006
   
361
   
Sale
   
19.23
 
$
6,942
 
Baker Biotech Fund III, LP
   
3/15/2006
   
2,260
   
Sale
   
19.23
 
$
43,460
 
Baker Biotech Fund III (Z), LP
   
3/15/2006
   
443
   
Sale
   
19.23
 
$
8,519
 
14159, LP
   
3/15/2006
   
177
   
Sale
   
19.23
 
$
3,404
 
                                 
 
Item 7. Material to Be Filed as Exhibits.
 
Exhibit 1. Agreement regarding the joint filing of this statement.
 

Page 9 of 11


SIGNATURE
 
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
 
March 15, 2006
     
  By:   /s/ Julian C. Baker  
 
Julian C. Baker
 
     
  By:   /s/ Felix J. Baker   
 
Felix J. Baker
 
  
Page 10 of 11

 
EXHIBIT 1

AGREEMENT
 
In accordance with Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree that this Statement on Schedule 13D relating to the Common Stock, $0.01 par value, of Biocryst Pharmaceuticals, Inc. is being filed with the Securities and Exchange Commission on behalf of each of them.
 
March 15, 2006
     
  By:   /s/ Julian C. Baker  
 
Julian C. Baker
 
     
  By:   /s/ Felix J. Baker   
 
Felix J. Baker
 
  
Page 11 of 11