Tekmira Pharmaceuticals (TKMR) Stock Showing Early Strength On Positive NY Times Report

Shares of Tekmira Pharmaceuticals Corporation (TKMR) are up almost 5% to $18.54 in pre-market trading Thursday. The gains may be attributed to a NY Times report stating that an experimental drug being developed by Tekmira Pharmaceuticals “has completely protected monkeys from lethal doses of a virus related to Ebola, bolstering confidence that a similar medicine might be effective if deployed in the current outbreak in Africa.”

Earlier this month, Tekmira Pharmaceuticals Corp. announced that the U.S. Food and Drug Administration had verbally confirmed they had modified the full clinical hold placed on the company’s TKM-Ebola Phase 1 Ebola treatment to a partial clinical hold. This action enables the potential use of TKM-Ebola in individuals that are already infected with Ebola virus.

TKM-Ebola, which is being developed by Tekmira and the U.S. Department of Defense’s Medical Countermeasure Systems BioDefense Therapeutics Joint Product Management Office, had been placed on hold on July 3 when the FDA requested additional data from the biotech company to assure the safety of volunteer subjects.

In other Ebola news; an American doctor who after contracting the Ebola virus used Mapp Biopharmaceutical’s experimental drug ZMapp will be released today from Emory University Hospital in Atlanta, with details expected on the release of a second patient who also contracted the deadly virus.

In the past 52 weeks, shares of Tekmira Corp have traded between a low of $5.08 and a high of $31.48. The stock is up a staggering 241.82% y/y, and 122.58% year-to-date.

The chart below shows where the equity has traded over the last 52 weeks, with the 50-day and 200-day MAs included.

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