Glaucus Research Profiles Tekmira Pharmaceuticals; Shares Thee Percent Lower

Shares of

were trading lower on Monday after Glaucus Research

a “Strong Sell” recommendation with a $7 to $10 price target. “Tekmira is hugely overvalued and its share price is poised to collapse,” Glaucus Research wrote in a note. Tekmira's RNAi technology is unproven, the FDA halted TKM Ebola's Phase I trial because of safety concerns, and despite limited use it appears that the drug is unpopular among treating physicians.” Glaucus Research speculates the drug is “highly likely” to fail FDA inspections for approval. In fact, the analysts note to the best of their knowledge TKM Ebola was only administered after supplies of ZMapp, a competitive treatment, were exhausted. TKM Ebola has been administered in two patients, one in Nebraska, the other in Norway. Since the original treatment, the hospital in Nebraska has chosen a competitor's drug to treat subsequent patients. Finally, TKM Ebola is impractical for distribution in Sub-Saharan Africa because it is administered intravenously, which requires trained medical personnel and resources, both of which are lacking in the region.