SEC FORM 4 SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
 
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Nugent Jonathan M

(Last) (First) (Middle)
2190 PARKWAY LAKE DRIVE

(Street)
BIRMINGHAM AL 35244-

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
BIOCRYST PHARMACEUTICALS INC [ BCRX ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
VP Corp Communications
3. Date of Earliest Transaction (Month/Day/Year)
06/22/2006
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options (Right to buy) $13.44 06/22/2006 06/22/2006 A 20,999(1) 06/22/2007(2) 06/22/2016 Common Stock 20,999 $13.44 20,999 D
Explanation of Responses:
1. Of the 20,999 stock options granted to Mr. Nugent, 16,687 are incentive stock options and 4,312 are non-qualified stock options.
2. Options become exercisable at the rate of 25% after 1 year and then 1/48 per month thereafter until fully vested and exercisable after 48 months.
Michael Richardson By POA 06/26/2006
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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POWER OF ATTORNEY

Know all men by these presents, that the undersigned director whose signature
 appears below hereby constitutes and appoints Michael A. Darwin and Michael
Richardson, and each of them, his true and lawful attorneys-in-fact and agents,
 with full power of substitution and resubstitution, for him and in his name,
place and stead, in any and all capacities:

To execute for and on behalf of the undersigned Forms 3, 4, 5, Schedule 13D
and amendments thereto in accordance with Sections 13(d) and 16(a) of the
Securities Exchange Act of 1934 and the rules thereunder;

i)	To do and perform any and all acts for and on behalf of the
undersigned which may be necessary or desirable to complete the execution of
any such Form 3, 4, 5 or Schedule 13D and the timely filing of such form with
 the United States Securities and Exchange Commission and any other authority;
 and

ii)	To take any other action of any type whatsoever in connection with
 the foregoing which, in the opinion of such attorneys-in-fact, may be of
benefit to, in the best interest of, or legally required by, the undersigned,
 it being understood that the documents executed by such attorneys-in-fact on
behalf of the undersigned pursuant to this Power of Attorney shall be in such
 form and shall contain such terms and conditions as such attorneys-in-fact may
 approve in his discretion.

The undersigned hereby grants to such attorneys-in-fact and agents full power
and authority to do and perform all and every act and thing whatsoever
requisite, necessary and proper to be done in the exercise of any of the
rights and powers herein granted, as fully to all intents and purposes as
the undersigned might or could do if personally present, with full power of
substitution or revocation, hereby ratifying and confirming all that such
attorney-in-fact, or his substitute or substitutes, shall lawfully do or
cause to be done by virtue of this Power of Attorney and the rights and
powers herein granted.  The undersigned acknowledges that the foregoing
attorneys-in-fact, in serving in such capacity at the request of the
undersigned, is not assuming any of the undersigned's responsibilities to
comply with Sections 13(d) and 16 of the Securities Exchange Act of 1934.

IN WITNESS WHEREOF, the undersigned has executed this Power of Attorney as
of this _____ day of _______________, 2006.



Johnathan M. Nugent