Tekmira Pharmaceuticals Says FDA Modifies Hold On Ebola Application

Tekmira Pharmaceuticals TKMR shares jumped seven percent after-hours Thursday when the company said a Food and Drug Administration action may enable the use of the company's TKM-Ebola drug for individuals infected with Ebola virus.

The FDA modified its full clinical hold on the company's Investigational New Drug Application for the treatment to a partial clinical hold, according to Tekmira, which said it received "verbal confirmation" from the agency.

"We are carefully evaluating options for use of the drug within accepted clinical and regulatory protocols," Tekmira Chief Executive Mark Murray said.

The hold had been placed July 3 when the FDA sought additional data as well as protocol changes to assure the safety of volunteer subjects.

Published preclinical studies looked promising for the treatment, which is being developed under a $140 million contract with the U.S. Department of Defense.

Tekmira changed hands recently in Friday's pre-market session at $16.52, up 15.7 percent.