POZEN Inc. (NASDAQ: POZN), a pharmaceutical company committed to transforming medicine that transforms lives, today announced that the Board of Directors has declared a special cash distribution of $1.75 per share to all stockholders of record as of the close of business on December 11, 2013, with an expected payment date of December 30, 2013. This distribution represents a surplus of corporate cash and is expected to be treated as a return of capital to stockholders. POZEN is committed to return as much cash to our stockholders as is prudent. POZEN remains committed to obtaining U.S. Food and Drug Administration (FDA) approval of PA8140/PA32540 and transitioning all know-how to Sanofi US, completing the remaining Phase 1 study and EU MAA filing for PA10040, trying to partner all un-partnered assets and reducing staff and costs as activities are completed.
POZEN Inc. is a small pharmaceutical company that specializes in developing novel therapeutics for unmet medical needs and licensing those products to other pharmaceutical companies for commercialization. By utilizing a unique in-source model and focusing on integrated therapies, POZEN has successfully developed and obtained FDA approval of two self-invented products in two years. Funded by these milestones/royalty streams, POZEN has created a portfolio of cost-effective, evidence-based integrated aspirin therapies designed to enable the full power of aspirin by reducing its GI damage.
POZEN is currently seeking strategic partners to help maximize the opportunities for its portfolio assets.The Company's common stock is traded under the symbol “POZN” on The NASDAQ Global Market. For more detailed company information, including copies of this and other press releases, please visit www.pozen.com. About PA POZEN has created a portfolio of investigational integrated aspirin therapies - the PA product platform. The products in the PA portfolio are being developed with the goal of significantly reducing GI ulcers and other GI complications compared to taking enteric-coated or plain aspirin alone.