Pozen (Nasdaq: POZN) reported a $7.9 million loss for the third quarter on Wednesday, a total that exceeded Wall Street expectations.

Financial analysts had forecast a 21-cent per share loss. Pozen said losses reached 26 cents per share.

Pozen shares still traded up 33 cents, or 5.8 percent, to $5.90 in late afternoon trading.

A year ago, Pozen posted a $7.9 million quarterly profit thanks to a $20 million milestone payment from drug development partner AstraZeneca.

The company reported revenues of $11.1 million, boosted by growth in its new migraine drug Treximet that it developed in partnership with GlaxoSmithKline. Pozen reported Treximet won 4.3 percent of the migraine drug market, up from 2.8 percent the previous quarter. In migraine drugs delivered orally, Treximet sales reached 7 percent, up from 4.8 percent.

Operating expenses also increased, with research and development costs for new pain reliever development helping drive up expenditures to $19.5 million from $11.9 million a year ago.