DANBURY, Conn., May 7, 2009 (GLOBE NEWSWIRE) -- Penwest Pharmaceuticals Co. (Nasdaq:PPCO) today announced its financial results for the first quarter of 2009. Compared with the first quarter of 2008, revenues increased sharply, operating expenses decreased by 45% and the Company’s net loss was significantly reduced to $962,000, or $0.03 per share.
