UPDATE 1-SkyePharma: asthma drug meets goal; EU filing on track

* Says European regulatory filing likely in Q1 2010

* Says higher dose strength well tolerated in study

* Says analysis of secondary targets underway

* Shares rise 22 pct (Adds details)

Nov 2 (Reuters) - SkyePharma Plc's (SKP.L) asthma drug Flutiform met the main goals in a late-stage trial and the company said it was on track to apply for European regulatory approval in the first quarter of 2010, sending its shares up as much as 22 percent.

The higher dose strength of the drug was well tolerated by patients in an eight-week trial and produced similar results when compared with the simultaneous administration of GlaxoSmithKline Plc's (GSK.L) Flixotide and Novartis AG's (NOVN.VX) Foradil.

The analysis of multiple secondary goals for Flutiform was currently underway, the British drug delivery specialist said on Monday.

In September, the company had said it would need to conduct more tests on Flutiform, which would delay the expected U.S. approval to late 2011.

SkyePharma had also forecast a few months' delay in the filing of the European marketing authorisation application, earlier this year.

Shares of the company, which is developing its potential billion-dollar flagship product with partner Mundipharma in Europe, were trading at 103 pence at 1106 GMT on the London Stock Exchange. (Reporting by Aditi Samajpati in Bangalore; Editing by Aradhana Aravindan)