Business Briefs

May. 08, 2013 @ 07:39 PM

Pozen narrows 1Q loss

CHAPEL HILL – Chapel Hill-based Pozen reported a narrower net loss of $5.8 million in the first quarter compared to the same quarter last year.

The company’s revenues were $1.4 million in the quarter from royalties on the sale of the drug Vimovo, which is marketed by AstraZeneca through an agreement with the company.

The company’s expenses were down to $7.2 million in the quarter, primarily due to lower pre-commercialization drugs for aspirin drug candidates it has been developing, according to a news release.

The company announced that it has submitted a new drug application to the U.S. Food and Drug Administration for PA32540 and PA8140, which are tablets targeted for the secondary prevention of cardiovascular disease in patients at risk for aspirin-induced gastric ulcers.