Advancis cutting workforce by one-third

Advancis Pharmaceutical is on a cost-cutting spree that involves cutting its workforce by one-third and eliminating all nonessential temporary workers. A total of 33 jobs will be cut, including six corporate officer jobs. The company hopes to reduce annual spending by $4.1 million. The changes come on the heels of failures in a second final-stage trial of the company's lead product, a once-a-day amoxicillin formulation.

- read this story from the Baltimore Business Journal for more