reported a $4.1 million loss for its most recent quarter, but the amount was much less than expected by Wall Street analysts.
Boosted by much higher than expected revenues of $14 million, the pharmaceutical firm said its quarterly losses were 14 cents per share, or $4.1 million. Analysts polled by Thomson Reuters had forecast a loss of 25 cents based on a revenue projection of $10.4. million.
Revenues more than doubled those posted in the same quarter in 2008. Pozen reported $5.2 million in licensing revenue and $8.8 million for research done in partnership with AstraZeneca.
For all 2008, Pozen finished in the red with a net loss of $6 million. It reported a $4.7 million profit in 2007.