Tekmira Pharmaceuticals Corporation (NASDAQ:TKMR) (TSE:TKM), a stock ValueWalk highlighted on Thursday for its Ebola treatments, is now trading down on the day after seeing significant gains Friday and Monday.
Tekmira’s stock down on on FDA’s restrictions on its Ebola treatments
Tekmira Pharmaceuticals Corporation (NASDAQ:TKMR) (TSE:TKM) is down $4.80 today, trading near $19 per share, after taking off on news regarding its Ebola treatments. After closing at $14.37 on Thursday, the stock rocketed to $20.70 on Friday and $23.80 on Monday. The stock took off Thursday after the close of trading on an FDA announcement that released restrictions on the firm’s Ebola treatments.
ValueWalk noted in the Thursday morning report Tekmira’s Ebola treatment is the only one successfully tested on a handful of healthy humans – other Ebola drugs have only been administered on animals, citing a research report from the Royal Bank of Canada. Outside the current issue, the bigger benefit could be potential government stock piling of the drug just in case, the report noted.
Tekmira Pharmaceuticals Corporation (NASDAQ:TKMR) (TSE:TKM) has seen the biggest individual swing in stock price but is not alone in Ebola treatment field, a report in Business Insider notes.
NewLink Genetics, BioCryst Pharmaceuticals receive government funding for Ebola treatment
Although their treatments have not received FDA approval, publicly-traded NewLink Genetics Corp (NASDAQ:NLNK) and BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) have received government funding for Ebola treatment candidates.
The report noted that on August 5 BioProtection Systems Corporation (BPS), a subsidiary of the NewLink Genetics, announced a $1 million letter contract with the U.S. Defense Threat Reduction Agency.
“There is an urgent need for a medical countermeasure against the deadly Ebola virus,” commented Dr. Charles Link, Chairman and Chief Executive Officer of NewLink. “This Ebola vaccine has been 100% effective in preventing lethal infection when given to non-human primates before they are infected with the virus. The vaccine also acts rapidly enough to have significant efficacy even when given to animals that have recently received a typically lethal dose of Ebola virus.”
NewLink Genetics Corp (NASDAQ:NLNK) is down $1.53 today, trading at $23.24. The stock was trading at $21 and then saw a rise moving into the Ebola scare, off its yearly high of $50 per share earlier in the year.
BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) did not get the same bump off the Ebola crisis as did Newlink or Tekmira Pharmaceuticals Corporation (NASDAQ:TKMR) (TSE:TKM). On Thursday shares of BioCryst closed at $12.90, moved to $13.96 on Friday and closed the day today at $13.39.
WHO’s take on Ebola
Over 1,000 people have died from Ebola, where a cure had not previously been available. In deciding to bring forth a treatment that had not been tested on humans, the World Health Organization took a moral angle.
When the WHO was making its decision, it “convened a consultation to consider and assess the ethical implications for clinical decision-making of the potential use of unregistered interventions,” a WHO statement said. “In order to understand the safety and efficacy of these interventions, the group advised that, if and when they are used to treat patients, there is a moral obligation to collect and share all data generated, including from treatments provided for ‘compassionate use’ (access to an unapproved drug outside of a clinical trial).”