August 8, 2014 / 2:23 PM / 5 years ago

Tekmira shares jump 25 percent after FDA eases Ebola drug restrictions

Tekmira Pharmaceuticals Corporation's head office is pictured in Burnaby, British Columbia August 5, 2014. REUTERS/Ben Nelms

(Reuters) - Shares of Canada’s Tekmira Pharmaceutical Corp TKM.TO jumped as much as 25 percent in early trading on Friday, after a regulator cleared its experimental Ebola drug for potential use in humans infected with the virus.

The U.S. Food and Drug Administration told Burnaby, British Columbia-based Tekmira that it had modified the full clinical hold on the drug to a partial clinical hold, the company said in a statement after markets closed on Thursday.

Tekmira’s Ebola treatment is one of three worldwide that have shown especially promising results in monkeys, but it is unproven in humans.

The stock jumped as much as 24.9 percent to C$19.49 on the Toronto Stock Exchange, touching a nearly four-month high before paring gains. Shares have climbed about 88 percent during the past three weeks.

Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Tom Brown

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