Biota Announces Full Exercise of Over-Allotment Option

Biota Announces Full Exercise of Over-Allotment Option

ATLANTA, Jan. 14, 2014 (GLOBE NEWSWIRE) -- Biota Pharmaceuticals, Inc.
(Nasdaq:BOTA) ("Biota" or the "Company") today announced that Guggenheim
Securities, LLC has exercised its option to purchase an additional 872,085
common shares to cover over-allotments in connection with the Company's public
offering of its common shares. The full exercise of the over-allotment option
increases the net proceeds to the company, after underwriting discounts and
commissions and estimated offering expenses, from approximately $23.3 million
to approximately $26.9 million. The Company intends to use the net proceeds
from the offering for working capital and general corporate purposes.

Guggenheim Securities, LLC is acting as sole book-running manager. The
offering is being made pursuant to a shelf registration statement previously
filed with the Securities and Exchange Commission ("SEC") and declared
effective on October 17, 2013. A final prospectus supplement relating to the
offering was filed with the SEC on January 10, 2014. Copies of the prospectus
supplement and the accompanying prospectus relating to these securities may be
obtained from Guggenheim Securities, LLC, 330 Madison Avenue, 8^th Floor, New
York, NY 10017, Attention: Equity Syndicate Department, by telephone at (212)
518-9349 or by email to GSEquityProspectusDelivery@guggenheimpartners.com.
Electronic copies of the prospectus supplement and the accompanying prospectus
are also available on the website of the SEC at http://www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of
an offer to buy shares of common stock of Biota, nor shall there be any sale
of these securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.

About Biota

Biota Pharmaceuticals, Inc. is a biopharmaceutical company focused on the
discovery and development of products to prevent and treat serious and
potentially life-threatening infectious diseases. The Company currently has
two Phase 2 clinical-stage product candidates in development: laninamivir
octanoate, a long-acting neuraminidase inhibitor that the Company is
developing for the treatment of influenza A and B infections under an
investigational new drug application (IND) in the United States through a
contract with the U.S. Office of Biomedical Advanced Research and Development
Authority (BARDA) that is designed to provide up to $231 million in financial
support to complete its clinical development; and vapendavir, a potent, oral
broad spectrum capsid inhibitor of enteroviruses, including human rhinovirus
(HRV). In addition to these clinical-stage programs, the Company has a
preclinical program focused on developing treatments for respiratory syncytial
virus (RSV). For additional information about the Company, please visit
www.biotapharma.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 that involve known and
unknown risks and uncertainties. All statements, other than historical facts
are forward-looking statements. Various important factors could cause actual
results, performance, events or achievements to materially differ from those
expressed or implied by the forward-looking statements, including risks
relating to the completion of the public offering, including the satisfaction
of customary closing conditions and the use of anticipated proceeds, and other
cautionary statements contained elsewhere in this press release and in the
Company's Annual Report on Form 10-K for the year ended June 30, 2013, as
filed with the SEC on September 27, 2013, and in the Company's Quarterly
Report on Form 10-Q for the quarter ended September 30, 2013, as filed with
the SEC on November 12, 2013.

There may be events in the future that the Company is unable to predict, or
over which it has no control, and the Company's business, financial condition,
results of operations and prospects may change in the future. The Company may
not update these forward-looking statements more frequently than quarterly
unless it has an obligation under U.S. Federal securities laws to do so.

Biota^® is a registered trademark of Biota Holdings Limited.

CONTACT: Russell H. Plumb
         Chief Executive Officer
         (678) 221-3351
         r.plumb@biotapharma.com
        
         Lee M. Stern
         The Trout Group
         (646) 378-2922
         lstern@troutgroup.com

Biota Pharmaceuticals, Inc
 
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