Shares of Tekmira Pharmaceuticals and other drugmakers involved in Ebola treatments rose Wednesday after officials disclosed the first case of Ebola initially diagnosed on U.S. soil late Tuesday.
Tekmira Pharmaceuticals (NASDAQ:TKMR) shares jumped 20.8% to 25.50 by midafternoon trading in the stock market today.
In August, Tekmira said that the U.S. Food and Drug Administration had moved its TKM-Ebola drug to a partial clinical hold status from a full clinical hold. With this approval, the drug can be used in patients infected with the deadly virus. Tekmira is developing the drug along with the Department of Defense's Medical Countermeasure Systems BioDefense Therapeutics Joint Product Management Office.
Even before the massive outbreak in West Africa, the DOD was concerned that the virus might be used in a bioterrorist attack.
BioCryst Pharmaceuticals (NASDAQ:BCRX) shares climbed 5.5% to 10.32. The company, which specializes in orphan diseases, has an Ebola medication in its pipeline; but in September, the World Health Organization said that the drug shouldn't be used in human trials until more safety tests were run.
NewLink Genetics (NASDAQ:NLNK) shares jumped 8.4% but eased off to a 6.7% gain at 22.85. The company's experimental Ebola vaccine recently got FDA approval for Phase 1 clinical trials.
Hemispherx Biopharma (AMEX:HEB) shares rose 10% to 0.35 after announcing Monday that it had expanded research collaborations to develop a drug to fight Ebola.
GlaxoSmithKline (NYSE:GSK) started trials of its Ebola vaccine in September, but shares were flat.
Shares of Lakeland Industries (NASDAQ:LAKE), maker of protective medical equipment, jumped 8% to 7.51.
Ebola has killed more than 3,000 people in West Africa. The U.S. case is the first to be initially diagnosed outside the continent. While the virus has an extremely high mortality rate, the CDC says that it's not typically spread via the air — only via contact with bodily fluids — and only people who are showing symptoms are contagious.
"But there's all the difference in the world between the U.S. and parts of Africa where Ebola is spreading," CDC Director Tom Frieden said. "While it is not impossible that there could be additional cases associated with this patient in the coming weeks, I have no doubt that we will contain this."
Follow Gillian Rich on Twitter at @IBD_GRich.
Read More At Investor's Business Daily: http://news.investors.com/technology/100114-719781-ebola-drugmakers-soar-on-first-american-
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