|POZEN Announces Resignation of Chief Financial Officer|
CHAPEL HILL, N.C.--(BUSINESS WIRE)--Jan. 20, 2004--POZEN Inc. (NASDAQ: POZN), announced today that the company's chief financial officer, Matthew E. Czajkowski, has resigned for personal and family reasons. John E. Barnhardt, the Company's vice president of finance and administration, will assume the interim responsibilities of chief financial officer. Mr. Barnhardt joined POZEN in March 1997, having previously served as the chief financial officer or principal accounting officer at two public companies.
"Matt has been instrumental in POZEN's transition from a private to a publicly held company and he has made a number of important contributions to our progress since joining the company. We are all appreciative of Matt's hard work on behalf of the company and we wish Matt and his family the best," said John R. Plachetka, Pharm.D., chairman, president and chief executive officer of POZEN. "John Barnhardt has been with the company since its beginning and is a very accomplished and able financial officer who will serve the company well during the interim. We will begin a search immediately for a new chief financial officer."
POZEN is a pharmaceutical company developing therapeutic advancements in a cost effective manner. Product development efforts are focused on diseases with unmet medical needs where POZEN can improve efficacy, safety, and/or patient convenience. Since its inception, POZEN has developed the largest and most advanced product pipeline in the field of migraine. POZEN has development and commercial alliances with GlaxoSmithKline, Xcel Pharmaceuticals, and Nycomed. The company's common stock is traded on The Nasdaq Stock Market under the symbol "POZN". For detailed company information, including copies of this and other press releases, see POZEN's website: www.pozen.com.
Statements included in this press release that are not historical in nature are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. You should be aware that our actual results could differ materially from those contained in the forward-looking statements, which are based on management's current expectations and are subject to a number of risks and uncertainties, including, but not limited to, our failure to successfully commercialize our product candidates; costs and delays in the development and/or FDA approval, or the failure to obtain such approval of our product candidates; uncertainties in clinical trial results, resulting in, among other things, our failure to achieve milestones that would have provided us with revenue; our inability to maintain or enter into, and the risks resulting from our dependence upon, collaboration or contractual arrangements necessary for the development, manufacture, commercialization, marketing, sales and distribution of any products; competitive factors; our inability to protect our patents or proprietary rights and obtain necessary rights to third party patents and intellectual property to operate our business; our inability to operate our business without infringing the patents and proprietary rights of others; general economic conditions; the failure of any products to gain market acceptance; our inability to obtain any additional required financing; technological changes; government regulation; changes in industry practice; and one-time events, including those discussed herein and in our Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2003 under "Management's Discussion and Analysis of Financial Condition and Results of Operations." We do not intend to update any of these factors or to publicly announce the results of any revisions to these forward-looking statements.