Advancis looks to cut costs following trial failure

Days after its lead product failed a second Phase III trial, the CEO of Advancis told analysts that he was looking at cutting costs, including possible layoffs. Advancis had been developing a new form of the antibiotic amoxicillin, but it has now failed pivotal trials for adults and children. The biotech has about $40 million in cash on hand.

- read this report from Washington Business Journal for more