Shares of Cubist Pharmaceuticals ($CBST) surged this morning after the Lexington, MA-based company announced that it had reaped promising data from its Phase III of its antibiotic candidate ceftolozane/tazobactam in complicated urinary tract infections. Ceftolozane/tazobactam met its primary endpoint of statistical noninferiority compared to levofloxacin. And the adverse event rate appeared almost identical in both arms of the study. Another Phase III study for complicated intra-abdominal infections is underway and due to read out next month, offering the final piece of a Phase III puzzle that Cubist plans to take to the FDA in search of an approval. Release