Reuters: Regulatory News: UPDATE 1-Pozen posts wider loss, to review forecast

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UPDATE 1-Pozen posts wider loss, to review forecast May 1st 2012, 13:58 Tue May 1, 2012 9:58am EDT * Q1 loss/share $0.28 vs est view $0.26 * Says in talks with potential partners on lower dose of stomach ulcer drug * Shares fall as much as 10 pct May 1 (Reuters) - Pozen Inc posted a wider-than-expected quarterly loss and said it was re-evaluating its full-year outlook after U.S. health regulators suggested dosage changes for its experimental stomach ulcer drug, sending its shares down 10 percent. The drugmaker's decision comes days after the U.S. Food and Drug Administration suggested that the company seek approval for a lower version of its drug, PA32540, indicating the need for more trials. The company, which said it would not conduct further late-stage studies of a lower dose, did not give an estimate of related costs at the time. The company posted a first-quarter net loss of $8.4 million, or 28 cents a share, compared with $5.7 million, or 19 cents a share, a year ago. Analysts, on an average, expected the company to post a loss of 26 cents a share, on revenue of $1.3 million, according to Thomson Reuters I/B/E/S. Pozen also said on Tuesday that it was on track to sign a partnership on its stomach ulcer drug by the end of the year. It added that it was in discussions with potential partners on the U.S. Food and Drug Administration's request for data on a lower dose of the stomach ulcer drug. The Chapel Hill, North Carolina-based company's shares were down 7 percent at $6.19 on Tuesday on the Nasdaq. They have fallen 14 percent since the FDA request for additional data last week. Link this Share this Digg this Email Reprints

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