Advancis Loses Partner
Par Pharmaceutical ended its partnership with Advancis Pharmaceutical of Germantown to develop a new version of the antibiotic amoxicillin. The proposed drug failed recently in final testing of adults and children.
Par, based in New York, said it made a required $4.75 million payment to fulfill its obligation for the third quarter but will not be required to pay the final installment of $4.75 million for the fourth quarter. The firm invested more than $20 million in the project.
AOL Unit Settles Adware Case
Advertising.com, a unit of America Online, settled Federal Trade Commission charges that the company offered free security software without adequately disclosing that it came with adware.
Advertising.com will be required to "clearly and prominently" disclose that people who install the program, SpyBlast, will receive pop-up ads based on their Internet browsing habits.
Yahoo to Test Blog Advertising
Yahoo will offer bloggers and other online publishers a chance to make money from their sites by displaying advertising, matching a product offered by Google. The program will be made available to about 2,000 Web publishers on a trial basis, Yahoo said. Yahoo and the bloggers will share revenue generated by Web users who click on the ads.
Maximus Revenue, Profit Up
Maximus, a Reston company that provides technology and consulting services to the government, earned $10.1 million (47 cents per share) in its third quarter, up from $9.9 million (45 cents). Revenue in the quarter ended June 30 was to $173.7 million, up 8.4 percent.
GenVec, a Gaithersburg biotechnology firm, reported a second-quarter loss of $3 million (5 cents a share) on $7.3 million in revenue. The company, which is working on treatments for cancer and heart disease, lost $4.8 million (9 cents) on $3.2 million in revenue in the second quarter last year.
Compiled from staff and news service reports.