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UPDATE 1-Pozen swings to Q2 loss as licensing rev slumps

Tue Jul 28, 2009 9:17am EDT

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* Q2 loss/shr $0.14 vs est loss/shr $0.15

* Q2 rev $4.9 mln vs $33.1 mln a yr-ago

July 28 (Reuters) - Pharmaceutical company Pozen Inc (POZN.O) posted an 84 percent slump in its licensing revenue, as it swung to a quarterly loss that scarped in ahead of market expectations.

For the second quarter, the company reported a net loss of 4.3 million, or 14 cents a share, compared with a profit of $13.3 million, or 43 cents a share, a year ago.

Revenue for the quarter was $4.9 million, down from $33.1 million in the year-ago quarter that included a $20 million milestone for a new drug application approval of Treximet, and $8.6 million of revenue for development work.

Analysts, on average, expected the company to post a loss of 15 cents a share, excluding items, on revenue of $5.2 million, according to Reuters Estimates.

For the alerts, please double-click [ID:nWNBB3858] (Reporting by Shailesh Kuber in Bangalore; Editing by Savio D'Souza)



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