Pozen Inc. (POZN)

[surf1944]

7:33AM POZEN beats by $0.04, misses on revs (POZN) 5.93 : Reports Q1 (Mar) loss of $0.19 per share, $0.04 better than the Thomson Reuters consensus of ($0.23); revenues rose 9.8% year/year to $4.5 mln vs the $4.6 mln consensus. At March 31, 2011, cash, cash equivalents and short-term investments totaled $56.8 mln compared to $64.1 mln at December 31, 2010. The co had an accounts receivable balance of $4.5 mln from GlaxoSmithKline and AstraZeneca at March 31, 2011. Co expects that patent litigation costs will be substantially less than the $9.4 mln spent in 2010. Co states that given that the final verdict on the Treximet patent litigation has not been issued, and the VIMOVO launch is still in its early stages, the co will not provide annual financial guidance at this time.