FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 0R 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) October 20, 2003

BIOCRYST PHARMACEUTICALS, INC.
(Exact Name of Registrant as Specified in Its Charter)

DELAWARE
(State or Other Jurisdiction of Incorporation or Organization)

000-23186		62-1413174
(Commission File Number)		(I.R.S. Employer Identification No.)

2190 Parkway Lake Drive; Birmingham, Alabama 35244
(Address and Zip Code of Principal Executive Offices)

(205) 444-4600
(Registrant’s Telephone Number, Including Area Code)

NONE
(Former Name or Former Address, if Changed Since Last Report)

Item 7. Financial Statements and Exhibits

	Exhibit Number		Description
	99.1		Press release dated October 20, 2003 entitled “BIOCRYST REPORTS THIRD QUARTER 2003 FINANCIAL RESULTS.”
	99.1

Item 12. Results of Operations and Financial Condition:

On October 20, 2003, BioCryst Pharmaceuticals, Inc. issued a news release announcing its financial results for the quarter ended September 30, 2003. A copy of the news release is attached hereto as exhibit 99.1 and is incorporated by reference into Item 12 of Form 8-K.

SIGNATURE

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 thereunto duly authorized.

Date: October 20, 2003

BIOCRYST PHARMACEUTICALS, INC.

/s/ Michael A. Darwin
——————————————
Michael A. Darwin
Chief Financial Officer and
Chief Accounting Officer

INDEX TO EXHIBITS

	Exhibit Number		Description		Sequentially Numbered Page
	99.1		Press release dated October 20, 2003 entitled “BIOCRYST REPORTS THIRD QUARTER 2003 FINANCIAL RESULTS”.		3