After the bell on Thursday Tekmira Pharmaceuticals Corporation (TKMR) (TKM.TO) announced that the FDA has verbally confirmed they have modified the full clinical hold placed on TKM-Ebola in early July to a partial clinical hold (the ascending dose portion of the study does remain on clinical hold). According to the company, the shift enables the use of TKM-Ebola in individuals infected with the Ebola virus. This in tandem with a continued torrent of headlines on the worsening Ebola outbreak in west Africa had traders in a tizzy for TKMR; the stock topped $25 in the Monday trading session as traders trying to short the hype get squeezed further.
Don’t confuse the current Ebola situation with a major fundamental development for Tekmira. The market opportunity for TKM-Ebola lies in government stockpiling, which isn’t likely to materialize in short order.
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