UPDATE 1-Advanced Life says pneumonia drug meets goals

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Nov 15 (Reuters) - Advanced Life Sciences Holdings Inc ADLS.O said a second pivotal last-stage trial to assess the safety and effectiveness of its pneumonia drug cethromycin met all its goals, driving the company's shares up 16 percent.

Cethromycin, an oral antibiotic treating mild to moderate community-acquired pneumonia (CAP), cured 94 percent of patients, compared to Abbott Laboratories Inc's (ABT.N) Biaxin, a current standard of treatment for CAP that cured 93.8 percent of studied patients, the company said in a statement.

The company said cethromycin also demonstrated favorable safety results, with reported side effects similar to or less than those seen with Biaxin.

The late-stage pivotal development program comprised two trials -- one enrolling patients from clinics in Europe, South America and Israel and the other enrolling patients from the United States, Canada and South Africa.

In June, Advanced Life reported that the first pivotal trial met its primary goal.

Shares of the company were up 30 cents at $2.20 in late morning trade on the Nasdaq. (Reporting by Neetha Mahadevan, Esha Dey in Bangalore; Editing by Vinu Pilakkott)