First Quarter Results

POZEN reported a net loss of ($3.5) million, or ($0.12) per share on a diluted basis, for the first quarter of 2009, compared to a net loss of ($7.4) million, or ($0.25) per share on a diluted basis, for the first quarter of 2008.

For the first quarter of 2009, POZEN reported revenue of $8.8 million resulting from the amortization of upfront payments received pursuant to the collaboration agreement with AstraZeneca of $3.1 million, Treximet® royalties of $1.0 million, and revenue from development work performed under the AstraZeneca agreement of $4.7 million. Revenue for the first quarter ended March 31, 2008 totaled $7.8 million.

Operating expenses for the first quarter of 2009 totaled $12.5 million as compared to $16.0 million for the comparable period in 2008. The decrease in operating expenses was primarily due to a decrease in costs associated with the PN 400 program.

At March 31, 2009, cash, cash equivalents and short-term investments totaled $52.3 million compared to $61.7 million at December 31, 2008. The Company has an accounts receivable balance of $5.9 million from AstraZeneca and GlaxoSmithKline at March 31, 2009.

Corporate Highlights

Treximet

Treximet net sales totaled $20.3 million for GlaxoSmithKline in the first quarter of 2009, generating royalty revenue of $1.0 million for POZEN. According to IMS Health, total prescriptions of Treximet in the first quarter of 2009 were 14% higher than the fourth quarter of 2008. Total prescriptions in March 2009 were 30% higher than January 2009 and 27% higher than February 2009, reflecting success of the promotional efforts by GlaxoSmithKline.*

PN 400 Program

Upon evaluation of the PN 400 clinical program, AstraZeneca will make a final determination regarding the New Drug Application (NDA) filing with the United States Food and Drug Administration (FDA). The NDA submission is planned for mid-2009. Pursuant to the collaboration agreement, POZEN expects to receive a $10 million milestone payment from AstraZeneca upon acceptance of the NDA by the FDA.

PA Program

In February 2009, POZEN received written confirmation from the FDA that endoscopic gastric ulcer incidence was an acceptable endpoint for the Phase 3 clinical studies the Company proposed in its Special Protocol Assessment submission for PA32540. The Company is planning to begin Phase 3 studies in late summer of 2009. POZEN does not plan to seek a license partner for PA32540 until after the commercialization strategy for the PA products is finalized.

* Note: This information is an estimate derived from the use of information under license from the following IMS Health information service: NPA Plus for the period October 2008 -- March 2009. IMS expressly reserves all rights, including rights of copying, distribution and republication.

First Quarter Results Webcast

POZEN will hold a webcast to present first quarter 2009 results and management's outlook on Thursday, April 30, 2009 at 11:00 a.m. Eastern time. The webcast can be accessed live and will be available for replay at www.pozen.com.

About POZEN

POZEN is a pharmaceutical company committed to developing therapeutic advancements for diseases with unmet medical needs where it can improve efficacy, safety, and/or patient convenience.