Tekmira shares skyrocket as Ebola outbreak intensifies in Africa

Shares of Canada’s Tekmira Pharmaceutical Corp , which has ambitions of producing the first treatment for the deadly Ebola virus, have skyrocketed as the worst-ever outbreak of the virus intensified in West Africa. While human tests of the company’s treatment, TKM-Ebola, were put on hold last month due to safety concerns, investors scrambled to buy its stock, sending shares up 1.5 percent to $13 in midday Nasdaq trading, and up more than 50 percent over the past fortnight. “The recent outbreak in West Africa is as profound as any we have seen in recent decades,” said Euro Pacific Canada analyst Douglas Loe. “We have solid pre-clinical evidence showing that TKM-Ebola is effective at eradicating Ebola symptoms, giving us confidence that its development activities could resume,” he said.