Pozen, which hopes to win approval of a new migraine drug later this year and is gearing up for its launch along with partner GlaxoSmithKline, reported an increase in revenues — and losses — on Monday.

Pozen (Nasdaq: POZN) said it increased revenues to $2.4 million in the fourth quarter of 2004, up from $1.8 million the previous year. Revenues reflected upfront payments for three drugs in the Pozen pipeline, including Trexima. Costs increased to $11.1 million for the quarter, up from $3.6 million in 2003, due in part to clinical trials for Trexima, which is being developed along with GSK.

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