Radford drugmaker New River Pharmaceuticals posted a $13 million quarterly loss Thursday as production and marketing expenses rose for the launch of its first product this spring.

The company expects to begin selling a once-a-day pill for children with attention-deficit hyperactivity disorder between April 1 and July 1. But the company told shareholders it might lose more money in the short term.

New River has a history of losses, which is common for a drug developer which discovers products in the laboratory and conducts tests involving animal and human subjects and has yet to put anything on the market. Accumulated losses stood at nearly $80 million Oct. 1, the company said.

Still, New River has cash and cash equivalents of $162 million. Shire, an English drugmaker which is helping with the first drug's launch, has paid New River $100 million in return for a partnership deal.

The partners have tentative Food and Drug Administration approval for the release.

Meanwhile, New River is testing its first pain medication in anticipation of asking the FDA to approve it as well. A hormone replacement therapy is also in the works.

Shares of New River closed Thursday at $49.39, down $2.52 cents.

-- Jeff Sturgeon