We covered
Advancis Pharmaceuticals Corporation (NDAQ:AVNC) in
an article back on August 18th. We noted that the company had successfully successfully achieved its Phase III PULSYS trials, which demonstrated that it's drug distribution technique was effective. Moreover, we noted a
13G filing (a more passive version of the 13D) which indicated a 17% ownership stake by Deerfield Capital Management - a fund that invests in "special opportunities".
New developments at Advancis make the situation more promising. On September 13th, the company announced that "it has received correspondence from the U.S. Food and Drug Administration
(FDA), confirming that the Company's recent successful Phase III clinical
trial, along with other data, would be considered adequate for filing a New
Drug Application (NDA) via the 505(b)(2) regulatory pathway." The company anticipates filing the Amoxicillin
PULSYS NDA in December 2006 or January 2007.
The stock is currently trading around $5.13 per share, up over 20% since our first mention of the company.
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