UPDATE 1-Pozen posts narrower-then-expected quarterly loss

Wed Mar 3, 2010 8:36am EST

* Q4 loss/shr $0.19 vs est loss/shr $0.22

* Q4 rev $4.2 mln vs est $4.3 mln

March 3 (Reuters) - Pharmaceutical company Pozen Inc (POZN.O), which focuses on developing pain drugs, posted a narrower-then-expected quarterly loss, helped by a 42 percent drop in operating expenses.

For the fourth quarter, the company posted a net loss of $5.8 million, or 19 cents a share, compared with a net loss of $4.1 million, or 14 cents a share, in the year-ago period.

Revenue for the quarter was $4.2 million.

Analysts on average had expected a loss of 22 cents, on revenue of $4.3 million, according to Thomson Reuters I/B/E/S.

Operating expenses fell to $10.7 million from $18.5 million, primarily due to a decrease in costs associated with the development program for its pain drug Vimovo.

The company said it expects to hear from U.S. health regulators regarding the marketing application for Vimovo in the second quarter.

Shares of Pozen closed at $6.38 Tuesday on Nasdaq.

For the alerts, please click on [ID:nWNAB4582] (Reporting by Jennifer Robin Raj in Bangalore; Editing by Aradhana Aravindan)

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