Tomahawk, WI 09/24/2014 (Basicsmedia) – Tekmira Pharmaceuticals Corporation (NASDAQ:TKMR) has announced that it will be participating in a consortium of clinical trials in West Africa as it seeks to bring the Ebola menace under control. CNBC’s Meg Tirrell reports that the FDA has approved the use of its drug in an expedited access program.
Sarepta Therapeutics Inc. (NASDAQ:SRPT) and MAP Pharmaceuticals Inc. (NASDAQ:MAPP) will also participate in the trials as they seek to evaluate whether their drugs can be used in humans. Tekmira stock is the only one that has responded positively to the news in the market.
“If you look at all the companies that are in the Ebola space, which includes Tekmira, Sarepta, BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) and NewLink Genetics Corp (NASDAQ:NLNK), which is working on a vaccine. Tekmira is really-really the one that is up the most; the others are not getting positive bumps from this news quite so much,” said Mrs. Tirrell.
The efforts of the pharmaceutical companies in combating the Ebola menace through drug development and vaccines has already received financial backing from the Wellcome Trust, which is believed to have donated £3.2 million. It is still unclear the effects that Tekmira Pharmaceuticals Corporation (NASDAQ:TKMR) stands to face should its drug fail in trials on humans.
The trials to be carried out will try to ascertain the efficacy and safety levels of the therapeutics as well as vaccines. Tekmira Pharmaceuticals Corporation (NASDAQ:TKMR)’s stock has remained volatile over the past two months having surged by 117% since July when Ebola erupted. The Stock could rally further in the market should there be positive news from the forthcoming trials.
“It doesn’t feel like the story is going away anytime soon, unfortunately, which to me means the stock continues high. The stock traded at $30 in March I think you could see it back to those levels just on the news flow alone doesn’t mean the stock is viable,” said CNBC’s Guy Adami.