Cubist Shares Up On Antibiotic Trial Results
Cubist Pharmaceuticals Inc. shares jumped Monday after the drug company said that its latest trial for an antibiotic met its goal for treatment of complicated intra-abdominal infections.
The company said the drug ceftolozane/tazobactam, in combination with antibiotic metronidazole, met the U.S. Food and Drug Administration and the European Medicines Agency thresholds for showing that it is equally effective as existing antibiotic meropenem.
Cubist also said that the treatment's side effects, which include nausea, diarrhea, fever, insomnia and vomiting, are similar to those seen with comparable antibiotics.
Monday's announcement follows last month's positive clinical trial results for the same drug for the treatment of complicated urinary tract infections.
Based on the success of these trials, Cubist said it plans to submit a new drug application to the FDA in the first half of 2014 for approval for use of both of these conditions. It plans to submit a marketing authorization application to European regulators in the second half of 2014.
Cubist is also studying the drug for treatment of other types of complicated infections, such as types of pneumonia acquired in hospitals.
The Lexington, Mass.-based company develops antibiotics to treat serious and life-threatening infections caused by a broad range of increasingly resistant bacteria.
Shares jumped $3.74, or 6 percent to $66.52 in late afternoon trading. Its stock price was up more than 49 percent for 2013 as of Friday's close.