Maxim Group Reiterates Buy Rating and $23 PT on Tekmira Pharma (TKMR) as FDA Partially Lifts Hold

Maxim Group analyst Jason Kolbert reiterated a Buy rating and $23 price target on Tekmira Pharma (NASDAQ: TKMR) after the FDA partially lifts the hold on TKM-Ebola.

Kolbert highlights:

• Tekmira announced that the FDA has verbally communicated that it will downgrade the full clinical hold on TKM-Ebola to a partial hold. This would pave the way for emergency use authorization (if needed) in the U.S.
• The ensuing Ebola outbreak and the danger that it poses to the United States and the rest of the world set the stage for regulatory action, along with the lack of adequate therapeutic agents against Ebola and the potential viability of TKM-Ebola as a treatment option.
• We are also aware of early-stage programs at Bavarian Nordic (BAVA.KO-107DKK-NR), MediVector (private), and Mapp Biopharmaceuticals (private), which has developed ZMapp. We understand this has been used to treat the two high-profile patients highlighted in the media.
• We also highlight two unrelated biodefense companies: SIGA (SIGA-$2.71-NR), which has developed ST-246 for smallpox as a medical counter measure (MCM), and Cytori (CYTX) for burns as a result of radiation. We believe that "biodefense" has varied investor interest until a crisis occurs. However, the procurement contracts and stockpiles can be substantial and impactful to the bottom lines of these companies,
• Tekmira will hold a conference call and webcast on Wednesday, August 13, 2014 at 5 p.m. EST to provide a corporate update and report financial results for the second quarter ended June 30, 2014

For an analyst ratings summary and ratings history on Tekmira Pharma click here. For more ratings news on Tekmira Pharma click here.

Shares of Tekmira Pharma closed at $14.27 yesterday.

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