|
|
Article: Advancis Pharmaceutical Corp. sees shares soar 46 percent in day.
- Article from:
- The Baltimore Sun (Baltimore, MD)
- Article date:
- August 11, 2006
CopyrightCOPYRIGHT 2006 The Baltimore Sun. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Tricia Bishop
Aug. 11--Shares of Advancis Pharmaceutical Corp. soared 46 percent yesterday -- the biggest gain on the Nasdaq -- after the Germantown biotech announced its once-a-day, strep-throat antibiotic had succeeded in a revamped clinical trial. The company plans to seek marketing approval for the drug, which it says could have annual sales of $400 million, by early next year.
Last summer, the treatment failed in two other trials, surprising executives and investors and sending the stock price on its way to an all-time low of 89 cents in late August. The news cost the now 7-year-old company a development partnership and forced executives to ...