Advancis Pharmaceutical Corp.'s stock was pounded severely, losing more than 60 percent of its value, on news that GlaxoSmithKline plc has decided to break off the deal to use Pulsys technology with Augmentin - a project that had been aimed for Phase III trials next year and could have meant $49 million in development milestones eventually, plus $50 million in sales milestones apart from royalties. (BioWorld Today)

In a long-standing war between an East Coast and a West Coast firm over erythropoietin (EPO) patents, Transkaryotic Therapies Inc. lost a battle on its home turf to Amgen Inc. when a federal judge upheld four of Amgen's claims, ruling that the company's patents are valid and have been infringed by TKT. (BioWorld Today)

SAN FRANCISCO - Biotechnology is no stranger to protest and picketing, and attendees of the Biotechnology Industry Organization's "Emerging Company Investor Forum" found more of the same at the door of the Palace Hotel here. (BioWorld Financial Watch)