Updated from 2:29 p.m. EDTShares of Advancis Pharmaceutical (AVNC) plummeted 59% after a drug it's working on with Par Pharmaceutical (PRX) failed a late-stage clinical trial. The companies said a phase III trial for the Amoxicillin Pulsys drug used to treat adults and adolescents with pharyngitis/tonsillitis failed to reach its end point. "We will further investigate these results and look to the results of our pediatric phase III trial that we anticipate receiving next month before deciding upon the next steps for our amoxicillin program," said CEO Edward Rudnic. Advancis closed down $2.96 to $2.03; Par finished down $1.94, or 5.8%, to $31.57.
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