Oncor to sell cancer test
Oncor Inc. of Gaithersburg said yesterday that it has acquired an exclusive license to sell a new method for detecting tiny bits of cancer.
The genetic test, developed by the Johns Hopkins University School of Medicine, is years away from widespread use. But yesterday's edition of the New England Journal of Medicine described experiments showing that the technique could help to alert surgeons when they miss even a few cells of a cancerous tumor.
Oncor said it will initially market the technique through its affiliate, OncorMed.
Dollar dives vs. mark, yen
The dollar plunged yesterday to the weakest level against the German mark in nearly four months and hit a 3 1/2 -month low vs. the Japanese yen in a sell-off blamed on investor uncertainty about the U.S. economy and new fears about Mexico's financial crisis.
In New York trading, the dollar ended at 1.4893 marks, down from 1.5090 Wednesday and off more than 2 percent for the week. The dollar was at 97.45 yen, down from 98.35.
FCC acts against license bidder
The Federal Communications Commission said yesterday that has notified Commercial Realty St. Pete, the successful bidder for interactive television licenses in Baltimore and 19 other markets in an auction last July, that it faces forfeiture of $390,000 and other penalties of $1.2 million for multiple violations of the auction rules.
The FCC accused Florida-based Commercial Realty of collusion with other bidders, failing to make required down payments, falsely claiming to be qualified to fulfill its obligations and misrepresenting itself as a woman-owned business.
Airline commissions questioned
The Justice Department's antitrust division is examining recent moves by major airlines to cut the commissions they pay to travel agents.
While the department hasn't yet started a formal probe, investigators are monitoring the airline industry's recent cost-cutting move, said an antitrust division spokeswoman.
On Wednesday, a national chain of travel agents sued five major airlines, alleging that the carriers violated antitrust and price-fixing laws when they moved last week to cut commissions.
Prime Retail posts gains
Prime Retail Inc. yesterday reported its funds from operations increased 34 percent, to $7.7 million, and 96 percent, to $29.4 million, for the fourth quarter and the year ended Dec. 31, respectively, before allocations to preferred shareholders.
The Baltimore-based company's revenue jumped by 42 percent and 70 percent, to $17 million and $56.5 million, respectively.
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