BUZZ-Tekmira Pharmaceuticals: Surges on deal to boost Hep B drugs portfolio

Mon Jan 12, 2015 11:34am EST
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** Canadian biopharmaceutical company's U.S.-listed stock up 45 pct at $22.81, on track for second-best day ever

** Canada-listed shares up 45 pct at C$27.26; still neither listing near their 52-week highs

** Tekmira to buy OnCore Biopharma Inc to focus on developing hepatitis B virus treatment by combining multiple therapeutic methods

** U.S.- and Canadian listed stock among top percentage gainers; U.S. stock, with more than 8 mln shares traded, among most active on the Nasdaq

** Implied market value of the merged company is about $750 mln, Tekmira to continue with oncology and anti-viral programs, including Ebola

** "We think this is a very good deal for Tekmira's shareholders as this could now be the leading pure-play and public Hepatitis B company," says RBC analyst Michael Yee

** Through Friday, U.S.-listed shares have halved and Canada-listed stock had fallen 46 pct since their 52-week highs in March