A Company That Makes an Ebola Drug Just Saw Its Stock Surge

TIME

Shares of Tekmira Pharmaceuticals shot up by 45% to $20.70 Friday afternoon and closed at $23 after the Canadian firm announced the FDA approved limited use of its Ebola drug.

The drug company’s shares had soared 18% in pre-market trading to $16.84 after Tekmira announced Thursday the FDA had verbally confirmed that it modified the full clinical hold on the drug TKM-Ebola to a partial clinical hold. The switch could allow potential use of the drug on Ebola-infected patients for what the World Health Organization has said is a global public health emergency.

“We are pleased that the FDA has considered the risk-reward of TKM-Ebola for infected patients. We have been closely watching the Ebola virus outbreak and its consequences, and we are willing to assist with any responsible use of TKM-Ebola,” Tekmira CEO and President Dr. Mark Murray said. “The foresight shown by the FDA removes one potential…

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