Tekmira Pharmaceuticals’ (TKMR) Treatment Used in First American Ebola Cases
Shares of Tekmira Pharmaceuticals Corp. (TKMR) were down -1.86 or -6.30 percent to $27.67 per share in premarket trading this morning. The stock is trading correctively after the shares surged on Friday as news that medical facilities will be using its TKM-Ebola treatment on the first U.S. Ebola cases. Tekmira Pharmaceuticals stock closed at $29.53 per share, up +4.06 or +15.94 percent in Friday's regular trading session.
This morning, a photojournalist, working in Liberia will be the fifth American to contract the Ebola virus. Ashoka Mukpo is expected to travel to Omaha, Nebraska today to receive treatment for the disease. and will be the second patient to be treated at the Nebraska Medical Center's specialized isolation unit. Mukpo was on assignment for NBC News when he contracted the virus last week.
The first person treated with Tekmira Pharmaceuticals' drug TKM-Ebola at the Nebraska Medical Center's isolation unit was American aid worker Rick Sacra, who was successfully treated last month and was allowed to go back to his Massachusetts home on September 25th after being treated for three weeks.
The TKM-Ebola treatment is still in Phase 1 tests, nevertheless, some analysts believe that the company's work with the U.S. FDA will expand to include a consortium on a planned controlled clinical trial. Tests will probably be conducted in Africa where the Ebola outbreak begun and has reportedly claimed as many as 3,400 lives.
Last month, Tekmira announced it had already reached a tentative agreement with the FDA, in a press release, Dr. Mark J. Murray Tekmira's President and Chief Executive Officer said that, "Tekmira is reporting that an appropriate regulatory and clinical framework is now in place to allow the use of TKM-Ebola in patients. We have worked with the FDA and Health Canada to establish this framework and a treatment protocol allowing us to do what we can to help these patients".
The FDA has already granted Tekmira with "potential use of its TKM-Ebola treatment "for investigational use for patients in the U.S. that have contracted Ebola. The company has yet to formulate a plan for creating a U.S. stockpile order to monetize its treatment. According to some analysts, recurring orders between $75 million and $100 million are possible.
Tekmira stock has risen sharply since trading at $7.22 per share in mid December of 2013. Despite this morning's selloff, the stock is still up sharply for the year. As more Ebola cases appear in the United States, Tekmira stock could easily make a new all-time high in the coming weeks.
Other News About Tekmira Pharmaceuticals
Tekmira to Present at BIO Investor Forum
CEO Dr. Mark J. Murray will make a presentation in San Francisco on October 7th.
Analyst downgrades rating from Outperform to Market Perform.
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