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March 5, 2014
07:40 EDTPOZN, SNYPOZEN says reduced R&D staff, other costs as part of controlling expenses
POZEN (POZN) said, "For FY14, the company’s areas of strategic focus are obtaining FDA approval for PA8140/PA32540, transitioning all licensed know-how relating to PA8140/PA32540 in the U.S. and fulfilling all contractual obligations to Sanofi (SNY) U.S., completing study PA10040-102, an additional Phase 1 pharmacodynamics study, preparing the regulatory filing document for PA product candidates in the European Union, finding partners for the PA asset in ex-U.S. territories, and controlling expenses. As part of controlling expenses, we have reduced our R&D staff and other costs and in the future will continue to reduce staff not required to support our ongoing business activities. Our board of directors and management team continue to explore potential ways to return value to our shareholders, including future cash distributions when we accumulate surplus cash as a result of receiving milestones and royalties from our commercial partners."
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