Tekmira Pharmaceuticals Corporation (TKMR) Surges on Ebola News

Updated on

Tekmira Pharmaceutical Corporation (NASDAQ:TKMR) said on Thursday that the US Food and Drug Administration (FDA) had modified its clinical hold status on Tekmira’s experimental Ebola treatment to enable its potential use in humans infected with the virus, reports Reuters.

Maxim Group analyst on Tekmira Pharmaceuticals

In a research note issued on Monday, Maxim Group analyst Jason Kolbert maintained a Buy rating on Tekmira Pharmaceuticals (TKMR) with a $23 price target, following a report that created a buzz around Ebola drug maker’s stocks. Tekmira was one of a few companies to have developed Ebola treatments advanced enough to be tested on people. In July, the U.S. FDA placed a hold on a clinical trial for a Tekmira drug in development due to safety concerns.

Kolbert commented: “Tekmira’s Ebola program has shown 100% efficacy in animal models. While efforts are underway to finalize a dosing and clear a related FDA hold (see our previous note), we believe the exceptional circumstances may result in regulators expediting the TKM-Ebola project”. He continued, “Since Ebola is highly infectious with a short incubation period of few days and has a high mortality rate, we believe that TKM-Ebola should qualify to progress through the Animal Rule pathway, similar to products approved through this pathway for the bubonic plague and anthrax”.

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a 5.1% average return and a 51.4% success rate. Kolbert has a 36.1% average return when recommending TKMR, and is ranked #784 out of 3200 analysts.

For more ratings news on TKMR click here.

Leave a Comment