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Pharmasset, Inc. (Pharmasset) is a clinical-stage pharmaceutical company committed to discovering, developing and commercializing novel drugs to treat viral infections. The Company's primary focus is on the development of oral therapeutics for the treatment of human immunodeficiency virus (HIV), hepatitis B virus (HBV) and hepatitis C virus (HCV). Its research and development efforts focus on a class of compounds known as nucleoside analogs, which act to inhibit the natural enzymes required for viral replication. Pharmasset has three product candidates, two of which the Company is developing, and one of which it is developing with a partner. The three product candidates include clevudine, in Phase III registration clinical trials for the treatment of HBV; R7128, a pro-drug of PSI-6130, in a Phase I clinical trial for the treatment of HCV, and Racivir, which has completed a Phase II clinical trial for the treatment of HIV.(Source: 10-K)