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  <p align="center"><font size="2" face="Times New Roman"><b>As filed with the Securities and Exchange Commission on August 17, 2006</b></font></p>
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  <font size="2" face="Times New Roman"><b>Registration No. 333-_______</b></font></p>
  
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  <font size="5" face="Times New Roman"><b>SECURITIES AND EXCHANGE COMMISSION<br> </b></font>
  <font size="3"><b>Washington, D.C. 20549</b></font></p>
  
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  <font size="5" face="Times New Roman"><b>FORM S-8<br> </b></font>
  <font size="3"><b>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</b></font></p>
  
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    <p  align="center">
  <font size="6" face="Times New Roman"><b>BIOCRYST   PHARMACEUTICALS, INC.</b></font></p>  </td>
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  <font size="1" face="Times New Roman"><b>(Exact   Name of Registrant as Specified in its Charter)</b></font></p>  </td>
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    <td width="49%" valign="top">
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  <font size="2" face="Times New Roman"><b>Delaware</b></font></p>  </td>
    <td width="2%" valign="top">
    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
    <td width="49%" valign="top">
    <p  align="center">
  <font size="2" face="Times New Roman"><b>62-1413174</b></font></p>  </td>
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  <font size="1" face="Times New Roman"><b>(State of   Incorporation)</b></font></p>  </td>
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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    <p  align="center">
  <font size="1" face="Times New Roman"><b>(I.R.S.   Employer Identification No.)</b></font></p>  </td>
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  <p  align="center"><font size="2" face="Times New Roman"><b>2190 Parkway Lake Drive<br> Birmingham, Alabama 35244<br> </b></font>
  <font size="1" face="Times New Roman"><b>(Address of Principal Executive Offices)</b></font></p>
  <p  align="center">
  <font size="2" face="Times New Roman"><b>Stock Incentive Plan<br> (Amendment and Restatement of 1991 Stock Option Plan)<br> </b></font>
  <font size="1" face="Times New Roman"><b>(Full Title of the Plan)</b></font></p>
  <p  align="center">
  <font size="2" face="Times New Roman"><b>Charles E. Bugg, Ph.D.<br> Chairman and Chief Executive Officer<br> BioCryst Pharmaceuticals, Inc.<br> 2190 Parkway Lake Drive<br> Birmingham, Alabama&#160; 35244<br> (205) 444-4600<br> </b></font>
  <font size="1" face="Times New Roman"><b>(Name, Address and Telephone Number, Including Area Code, of Agent for Service)</b></font></p>
  <p  align="center">
  <font size="2" face="Times New Roman"><i>Copies to:<br> </i><b>Richard R. Plumridge, Esq.<br> Jennifer A. D&#146;Alessandro, Esq.<br> Holme Roberts &amp; Owen LLP<br> 1700 Lincoln Street, Suite 4100<br> Denver, CO&#160;&#160; 80203<br> (303) 861-7000</b></font></p>
  
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  <font size="2" face="Times New Roman"><b>CALCULATION OF REGISTRATION FEE</b></font></p>
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    <p align="center">
  <font size="1" face="Times New Roman"><b>Title of   Securities<br>   to be Registered</b></font></p>  </td>
    <td width="2%" valign="top">
    <p style="margin-left:1em; text-indent:-1em"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
    <td colspan="2" valign="top">
    <p  align="center"><font size="1" face="Times New Roman"><b>Amount to   be<br>
      Registered (1)</b></font></p>
    </td>
    <td width="3%" valign="top">
    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
    <td colspan="2" valign="top">
    <p  align="center"><font size="1" face="Times New Roman"><b>Proposed   Maximum<br>
      Offering Price Per Share (3)</b></font></p>
    </td>
    <td width="2%" valign="top">
    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
    <td colspan="2" valign="top">
    <p  align="center"><font size="1" face="Times New Roman"><b>Proposed   Maximum<br>
      Aggregate Offering Price</b></font></p>
    </td>
    <td width="2%" valign="top">
    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
    <td colspan="2" valign="top">
    <p  align="center"><font size="1" face="Times New Roman"><b>Amount of<br>
      Registration Fee (4)</b></font></p>
    </td>
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    </td>
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    <p style="margin-left:1em; text-indent:-1em"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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    </td>
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
    <td  colspan="2" valign="top">
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    </td>
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
    <td  colspan="2" valign="top">
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    </td>
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    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em"><font size="2" face="Times New Roman">Common Stock, $0.01 par value</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
    <td width="1%"  valign="bottom">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td width="12%"  valign="bottom">
    <p  align=right>
  <font size="2" face="Times New Roman">1,500,000 </font></p>  </td>
    <td  valign="bottom">
    <p  align=left>
  <font size="2" face="Times New Roman">(2)</font></p>  </td>
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  <font size="2" face="Times New Roman">$</font></p>  </td>
    <td width="17%"  valign="bottom">
    <p  align=right>
  <font size="2" face="Times New Roman">8.815</font></p>  </td>
    <td  valign="bottom">
    <p  align=right><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
    <td width="1%"  valign="bottom">
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  <font size="2" face="Times New Roman">$</font></p>  </td>
    <td width="15%"  valign="bottom">
    <p  align=right>
  <font size="2" face="Times New Roman">13,222,500</font></p>  </td>
    <td  valign="bottom">
    <p  align=right><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
    <td width="1%"  valign="bottom">
    <p  align=left>
  <font size="2" face="Times New Roman">$</font></p>  </td>
    <td width="15%"  valign="bottom">
    <p  align=right>
  <font size="2" face="Times New Roman">1,414.81</font></p>  </td>
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     <td colspan="2" valign="top"><hr align="left" width="25%" size="3" noshade color=black></td>
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    <td width="5%" valign="top">
    <p>
  <font size="2" face="Times New Roman">(1)</font></p>  </td>
    <td width="95%" valign="top">
    <p>
  <font size="2" face="Times New Roman">This   Registration Statement shall also cover any additional shares of Common Stock   which become issuable by reason of any stock dividend, stock split,   recapitalization or other similar transaction effected without the receipt of   consideration which results in an increase in the number of the Registrant&#146;s   outstanding shares of Common Stock.</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="2" face="Times New Roman">(2)</font></p>  </td>
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    <p>
  <font size="2" face="Times New Roman">Increase in authorized   number of shares under the amended and restated Stock Incentive Plan above   those previously covered by the 1991 Stock Option Plan.</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="2" face="Times New Roman">(3)</font></p>  </td>
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    <p>
  <font size="2" face="Times New Roman">Estimated solely for the   purpose of calculating the amount of the registration fee pursuant to Rule   457(h) under the Securities Act of 1933, as amended, based upon the average   of the high and low prices of the Registrant&#146;s Common Stock on August 16,   2006, as reported on The Nasdaq National Market.</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="2" face="Times New Roman">(4)</font></p>  </td>
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    <p>
  <font size="2" face="Times New Roman">The registration fee for   the securities registered hereby was calculated by multiplying the proposed   maximum offering price by .000107 in accordance with Section 6(b) of the   Securities Act and the related rules.</font></p>  </td>
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    <p><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="2" face="Times New Roman"><b>FORM S-8 PURSUANT TO GENERAL INSTRUCTION E</b></font></p>
  <p>
  <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Form S-8 is filed with the Securities and Exchange Commission (the &#147;Commission&#148;) pursuant to General Instruction E to Form S-8. The contents of the earlier Registration Statements on Form S-8, Registration Nos. 333-120345, 333-39484 and 333-30751 are hereby incorporated by reference into this Form S-8.&#160; All capitalized terms not defined herein shall have the same meaning as set forth in the Form S-8.</font></p>
  <p  align="center">
  <font size="2" face="Times New Roman"><b>EXHIBITS</b></font></p>
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    <p>
  <font size="2" face="Times New Roman"><b>Exhibit<u><br>   </u>Number</b></font></p>  </td>
    <td width="3%"  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td width="91%"  valign="bottom">
    <p>
  <font size="2" face="Times New Roman"><b>Description</b></font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p  align=right><font size="2" face="Times New Roman">5.1&nbsp;&nbsp;</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="2" face="Times New Roman">Opinion of Holme Roberts   &amp; Owen LLP (filed herewith).</font></p>  </td>
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    <p  align=right><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p  align=right>
  <font size="2" face="Times New Roman">10.1&nbsp;&nbsp;</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="2" face="Times New Roman">Stock Incentive Plan   (incorporated by reference to Exhibit 10.1 to the Registrant&#146;s Quarterly   Report on Form 10-Q for the quarter ended June 30, 2006 (File No.   000-23186)).</font></p>  </td>
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    <p  align=right><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p  align=right>
  <font size="2" face="Times New Roman">23.1&nbsp;&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="2" face="Times New Roman">Consent of Ernst &amp;   Young LLP, Independent Registered Public Accounting Firm.&#160; (filed herewith)</font></p>  </td>
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    <td  valign="top">
    <p  align=right><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p  align=right>
  <font size="2" face="Times New Roman">23.2&nbsp;&nbsp;</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="2" face="Times New Roman">Consent of Holme Roberts   &amp; Owen LLP (included in Exhibit 5.1).</font></p>  </td>
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    <td  valign="top">
    <p  align=right><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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    <p><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p  align=right>
  <font size="2" face="Times New Roman">24.1&nbsp;&nbsp;</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="2" face="Times New Roman">Power of Attorney   (included on signature page).</font></p>  </td>
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  <div style="page-break-before:always"></div>
  <PAGE>
  <br>
  
  <p  align="center">
  <font size="2" face="Times New Roman"><b>SIGNATURES</b></font></p>
  <p>
  <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Birmingham, State of Alabama, on the 17th day of August, 2006.</font></p>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
    <font size="2" face="Times New Roman">BIOCRYST PHARMACEUTICALS,   INC.</font></p></td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <p>
  <font size="2" face="Times New Roman">By:</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="2" face="Times New Roman">/s/ Charles E. Bugg, Ph.D.</font></p>  </td>
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    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <hr size="1" width="100%" noshade color=black>
  
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    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="2" face="Times New Roman">Chairman and Chief   Executive Officer</font></p>  </td>
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  <div style="page-break-before:always"></div>
  <PAGE>
  <br>
  
  <p  align="center">
  <font size="2" face="Times New Roman"><b>POWER OF ATTORNEY</b></font></p>
  <p>
  <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We, the undersigned officers and directors of BIOCRYST PHARMACEUTICALS, INC. hereby constitute and appoint Charles E. Bugg, Ph.D. and Michael A. Darwin, and each of them, as our true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for us and in our name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto, and all documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as we might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any
  of them, or their or his substitutes or substitute, may lawfully do or cause to be done by virtue hereof.</font></p>
  <p>
  <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.</font></p>
  
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    <p align="center"><font size="1" face="Times New Roman"><b>Signature</b></font></p>  </td>
    <td width="3%" valign="top">
    <p style="margin-left:1em; text-indent:-1em"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
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    <p  align="center">
  <font size="1" face="Times New Roman"><b>Title</b></font></p>  </td>
    <td width="3%" valign="top">
    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
    <td width="24%" valign="top">
    <p  align="center">
  <font size="1" face="Times New Roman"><b>Date</b></font></p>  </td>
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  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
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    <hr size="1" width="100%" noshade color=black>
  
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    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <hr size="1" width="100%" noshade color=black>  </td>
   </tr>
  
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
   </tr>
   <tr valign="bottom">
    <td>
    <p style="margin-left:1em; text-indent:-1em">
  <font size="2" face="Times New Roman">/s/ Charles E. Bugg</font></p>  </td>
    <td>
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td rowspan="3"  valign="top">
    <p>
  <font size="2" face="Times New Roman">Chairman, Chief Executive   Officer and Director<br> (Principal Executive Officer)</font></p>
    </td>
    <td>
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td rowspan="3"  valign="top">
    <p  align="center">
  <font size="2" face="Times New Roman">August   17, 2006</font></p>
    </td>
   </tr>
   <tr>
    <td  valign="top">
    <hr size="1" width="100%" noshade color=black>
  
    </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em"><font size="2" face="Times New Roman">Charles E. Bugg, Ph.D..</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="2" face="Times New Roman">/s/ J. Claude Bennett</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td rowspan="3"  valign="top">
    <p>
  <font size="2" face="Times New Roman">President, Chief Operating   Officer,<br> Medical Director and Director</font></p>
   </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td rowspan="3"  valign="top">
    <p  align="center">
  <font size="2" face="Times New Roman">August   17, 2006</font></p>
    </td>
   </tr>
   <tr>
    <td  valign="top">
    <hr size="1" width="100%" noshade color=black>
  
    </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="2" face="Times New Roman">J. Claude Bennett, M.D.</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
   </tr>
   <tr>
    <td  valign="bottom">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="2" face="Times New Roman">/s/ Michael A. Darwin</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td rowspan="3"  valign="top">
    <p>
  <font size="2" face="Times New Roman">Chief Financial Officer,   Secretary and Treasurer<br>
  (Principal Financial and Accounting Officer)</font></p>
  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td rowspan="3"  valign="top">
    <p  align="center">
  <font size="2" face="Times New Roman">August   17, 2006</font></p></td>
   </tr>
   <tr>
     <td  valign="top"><hr size="1" width="100%" noshade color=black></td>
     <td  valign="top"><p> <font size="1" face="Times New Roman">&nbsp;</font></p></td>
     <td  valign="top"><p> <font size="1" face="Times New Roman">&nbsp;</font></p></td>
    </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="2" face="Times New Roman">Michael A. Darwin</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
   </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="2" face="Times New Roman">/s/ Stephen R. Biggar</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td rowspan="3"  valign="top">
    <p>
  <font size="2" face="Times New Roman">Director</font></p>
    </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td rowspan="3"  valign="top">
    <p  align="center">
  <font size="2" face="Times New Roman">August   17, 2006</font></p>
   </td>
   </tr>
   <tr>
    <td  valign="top">
    <hr size="1" width="100%" noshade color=black>
  
    </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="2" face="Times New Roman">Stephen R. Biggar, M.D.,   Ph.D.</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
   </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="2" face="Times New Roman">/s/ William W.   Featheringill</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td rowspan="3"  valign="top">
    <p>
  <font size="2" face="Times New Roman">Director</font></p>
    </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td rowspan="3"  valign="top">
    <p  align="center">
  <font size="2" face="Times New Roman">August   17, 2006</font></p>
   </td>
   </tr>
   <tr>
    <td  valign="top">
    <hr size="1" width="100%" noshade color=black>
  
    </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em"><font size="2" face="Times New Roman">William W. Featheringill</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
   </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="2" face="Times New Roman">/s/ Carl L. Gordon</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td rowspan="3"  valign="top">
    <p>
  <font size="2" face="Times New Roman">Director</font></p>
    </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td rowspan="3"  valign="top">
    <p  align="center">
  <font size="2" face="Times New Roman">August   17, 2006</font></p>
   </td>
   </tr>
   <tr>
    <td  valign="top">
    <hr size="1" width="100%" noshade color=black>
  
    </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="2" face="Times New Roman">Carl L. Gordon, CFA, Ph.D.</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
   </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="2" face="Times New Roman">/s/ John L. Higgins</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td rowspan="3"  valign="top">
    <p>
  <font size="2" face="Times New Roman">Director</font></p>
    </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td rowspan="3"  valign="top">
    <p  align="center">
  <font size="2" face="Times New Roman">August   17, 2006</font></p>
    </td>
   </tr>
   <tr>
    <td  valign="top">
    <hr size="1" width="100%" noshade color=black>
  
    </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="2" face="Times New Roman">John L. Higgins</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
   </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em"><font size="2" face="Times New Roman">/s/ Zola P. Horovitz</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td rowspan="3"  valign="top">
    <p>
  <font size="2" face="Times New Roman">Director</font></p>
   </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td rowspan="3"  valign="top">
    <p  align="center">
  <font size="2" face="Times New Roman">August   17, 2006</font></p>
    </td>
   </tr>
   <tr>
    <td  valign="top">
    <hr size="1" width="100%" noshade color=black>
  
    </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="2" face="Times New Roman">Zola P. Horovitz, Ph.D.</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
   </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="2" face="Times New Roman">/s/ Joseph H. Sherrill,   Jr.</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td rowspan="3"  valign="top">
    <p>
  <font size="2" face="Times New Roman">Director</font></p>
    </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td rowspan="3"  valign="top">
    <p  align="center">
  <font size="2" face="Times New Roman">August   17, 2006</font></p>
   </td>
   </tr>
   <tr>
    <td  valign="top">
    <hr size="1" width="100%" noshade color=black>
  
    </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em"><font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="2" face="Times New Roman">Joseph H. Sherrill, Jr.</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p>
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td  valign="top">
    <p  align="center"><font size=1 face="Times New Roman">&nbsp;</font></p> </td>
   </tr>
   <tr>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="2" face="Times New Roman">/s/ Beth C. Seidenberg</font></p>  </td>
    <td  valign="top">
    <p style="margin-left:1em; text-indent:-1em">
  <font size="1" face="Times New Roman">&nbsp;</font></p>  </td>
    <td rowspan="3"  valign="top">
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  <font size="2" face="Times New Roman">Director</font></p>
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metadata_documents: [{"type": "S-8", "sequence": "1", "filename": "bp71907.htm", "description": "FORM S-8", "secsgml_size_bytes": 42929}]
metadata_filer: {"company-data": {"conformed-name": "BIOCRYST PHARMACEUTICALS INC", "cik": "0000882796", "assigned-sic": "2836", "irs-number": "621413174", "state-of-incorporation": "DE", "fiscal-year-end": "1220"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-136703", "film-number": "061041045"}, "business-address": {"street1": "2190 PARKWAY LAKE DR", "city": "BIRMINGHAM", "state": "AL", "zip": "35244", "phone": "2054444600"}, "mail-address": {"street1": "2190 PARKWAY LAKE DR", "city": "BIRMINGHAM", "state": "AL", "zip": "35244"}}
text: As filed with the Securities and Exchange Commission on August 17, 2006
  Registration No. 333-_______
  SECURITIES AND EXCHANGE COMMISSION
  Washington, D.C. 20549
  FORM S-8
  REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
  BIOCRYST   PHARMACEUTICALS, INC.
  (Exact   Name of Registrant as Specified in its Charter)
  Delaware
  62-1413174
  (State of   Incorporation)
  (I.R.S.   Employer Identification No.)
  2190 Parkway Lake Drive
  Birmingham, Alabama 35244
  (Address of Principal Executive Offices)
  Stock Incentive Plan
  (Amendment and Restatement of 1991 Stock Option Plan)
  (Full Title of the Plan)
  Charles E. Bugg, Ph.D.
  Chairman and Chief Executive Officer
  BioCryst Pharmaceuticals, Inc.
  2190 Parkway Lake Drive
  Birmingham, Alabama  35244
  (205) 444-4600
  (Name, Address and Telephone Number, Including Area Code, of Agent for Service)
  Copies to:
  Richard R. Plumridge, Esq.
  Jennifer A. D'Alessandro, Esq.
  Holme Roberts & Owen LLP
  1700 Lincoln Street, Suite 4100
  Denver, CO   80203
  (303) 861-7000
  CALCULATION OF REGISTRATION FEE
  Title of   Securities
  to be Registered
  Amount to   be
  Registered (1)
  Proposed   Maximum
  Offering Price Per Share (3)
  Proposed   Maximum
  Aggregate Offering Price
  Amount of
  Registration Fee (4)
  Common Stock, $0.01 par value
  1,500,000
  (2)
  $
  8.815
  $
  13,222,500
  $
  1,414.81
  (1)
  This   Registration Statement shall also cover any additional shares of Common Stock   which become issuable by reason of any stock dividend, stock split,   recapitalization or other similar transaction effected without the receipt of   consideration which results in an increase in the number of the Registrant's   outstanding shares of Common Stock.
  (2)
  Increase in authorized   number of shares under the amended and restated Stock Incentive Plan above   those previously covered by the 1991 Stock Option Plan.
  (3)
  Estimated solely for the   purpose of calculating the amount of the registration fee pursuant to Rule   457(h) under the Securities Act of 1933, as amended, based upon the average   of the high and low prices of the Registrant's Common Stock on August 16,   2006, as reported on The Nasdaq National Market.
  (4)
  The registration fee for   the securities registered hereby was calculated by multiplying the proposed   maximum offering price by .000107 in accordance with Section 6(b) of the   Securities Act and the related rules.
  FORM S-8 PURSUANT TO GENERAL INSTRUCTION E
  This Form S-8 is filed with the Securities and Exchange Commission (the "Commission") pursuant to General Instruction E to Form S-8. The contents of the earlier Registration Statements on Form S-8, Registration Nos. 333-120345, 333-39484 and 333-30751 are hereby incorporated by reference into this Form S-8.  All capitalized terms not defined herein shall have the same meaning as set forth in the Form S-8.
  EXHIBITS
  Exhibit
  Number
  Description
  5.1
  Opinion of Holme Roberts   & Owen LLP (filed herewith).
  10.1
  Stock Incentive Plan   (incorporated by reference to Exhibit 10.1 to the Registrant's Quarterly   Report on Form 10-Q for the quarter ended June 30, 2006 (File No.   000-23186)).
  23.1
  Consent of Ernst &   Young LLP, Independent Registered Public Accounting Firm.  (filed herewith)
  23.2
  Consent of Holme Roberts   & Owen LLP (included in Exhibit 5.1).
  24.1
  Power of Attorney   (included on signature page).
  SIGNATURES
  Pursuant to the requirements of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Birmingham, State of Alabama, on the 17th day of August, 2006.
  BIOCRYST PHARMACEUTICALS,   INC.
  By:
  /s/ Charles E. Bugg, Ph.D.
  Chairman and Chief   Executive Officer
  POWER OF ATTORNEY
  We, the undersigned officers and directors of BIOCRYST PHARMACEUTICALS, INC. hereby constitute and appoint Charles E. Bugg, Ph.D. and Michael A. Darwin, and each of them, as our true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for us and in our name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto, and all documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as we might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any
  of them, or their or his substitutes or substitute, may lawfully do or cause to be done by virtue hereof.
  Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.
  Signature
  Title
  Date
  /s/ Charles E. Bugg
  Chairman, Chief Executive   Officer and Director
  (Principal Executive Officer)
  August   17, 2006
  Charles E. Bugg, Ph.D..
  /s/ J. Claude Bennett
  President, Chief Operating   Officer,
  Medical Director and Director
  August   17, 2006
  J. Claude Bennett, M.D.
  /s/ Michael A. Darwin
  Chief Financial Officer,   Secretary and Treasurer
  (Principal Financial and Accounting Officer)
  August   17, 2006
  Michael A. Darwin
  /s/ Stephen R. Biggar
  Director
  August   17, 2006
  Stephen R. Biggar, M.D.,   Ph.D.
  /s/ William W.   Featheringill
  Director
  August   17, 2006
  William W. Featheringill
  /s/ Carl L. Gordon
  Director
  August   17, 2006
  Carl L. Gordon, CFA, Ph.D.
  /s/ John L. Higgins
  Director
  August   17, 2006
  John L. Higgins
  /s/ Zola P. Horovitz
  Director
  August   17, 2006
  Zola P. Horovitz, Ph.D.
  /s/ Joseph H. Sherrill,   Jr.
  Director
  August   17, 2006
  Joseph H. Sherrill, Jr.
  /s/ Beth C. Seidenberg
  Director
  August   17, 2006
  Beth C. Seidenberg, M.D.
  /s/ William M. Spencer,   III
  Director
  August   17, 2006
  William M. Spencer, III
  /s/ Randolph C. Steer
  Director
  August   17, 2006
  Randolph C. Steer, M.D.,   Ph.D.