Shares of Tekmira Pharmaceuticals Corp. (TSX: TKM), a biopharmaceutical
company, saw a significant rise in its share price following encouraging news
from the FDA concerning the company’s Ebola candidate, TKM-Ebola. The stock gained momentum after gaining more than 12% in each of the past two consecutive trading days with significant number of shares exchanging hands. During the last trading session, TKM was among the top performer in the Canadian healthcare sector after rising 12.3% and closed at C$25.84 while recording significant volumes of 1.7 million shares. During the past 5-trading sessions, TKM rallied 66.7% while recording daily average trading volumes of 760,383 shares, while the stock has accumulated gains of 133% in the past one month with daily average trading volume of 218,494 shares. We note that the stock is up 205% year-to-date.
The stock rallied after the U.S. Food and Drug Administration provided verbal assurance to TKM that it is converting the full clinical hold on TKM-Ebola to a partial clinical hold. The FDA’s move allows the potential use of TKM Ebola to treat Ebola infected patients. In Jul 2014, the U.S. regulatory body had placed Tekmira’s phase I study on the Ebola candidate on clinical hold due to safety concerns. TKM-Ebola was being developed by Tekmira under a contract worth $140 million from the U.S. Department of Defense.
Company Description:
Tekmira Pharmaceuticals Corp (TSX: TKM) is a biopharmaceutical company. The Company is focused on advancing RNAi therapeutics and providing its lipid nanoparticle delivery technology to its pharmaceutical partners.
1-Year Stock Chart:
Source: Bloomberg
