Pozen cuts loss 53%, attracts Zacks interest

Pozen, a North Carolina, USA-based drug developer, has posted a 53% reduction in loss, year-on-year, on increasing revenue, slightly ahead  of Zachs Investment analysts' forecasts, causing the latter to describe  the firm's shares as undervalued.

The firm's net loss was cut to $3.5 million, or $0.12 per share, versus  a loss of $7.4 million, or $0.25 per share. Sales were up 13% to $8.8  million, comprising $4.1 million from licensing and $4.7 million from  development revenue. R&D expenses were $8.0 million, down 39%. However,  as of March 31, the firm had $22.1 million in cash and cash equivalents,  down 15% on the end of last year.