Tekmira Pharmaceuticals Corporation (TKMR) is spiking in early trading today after the company announced that the U.S. Food and Drug Administration has verbally confirmed they have 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.
“We are pleased that the FDA has considered the risk-reward of TKM-Ebola for infected patients…We are focused on an expedient resolution of this so that we can advance our TKM-Ebola to evaluate the multiple ascending dose regimen,” Tekmira Chief Executive Mark Murray said in a statement.
TKM-Ebola, which is being developed by Tekmira Pharmaceuticals 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.
Earlier this week, analysts at Maxim Group maintained their ‘Buy’ rating and $23.00 price target on the shares of Tekmira Pharmaceuticals Corp, noting in a research note to clients that the exceptional circumstances of the two U.S. aid workers infected with Ebola, which has killed over 800 people in six months, may result in regulators expediting Tekmira’s drug.
TKMR is currently changing hands at $17.22, up 20.67 percent. The stock is up a staggering 200% y/y, and 111% year-to-date.