Boston, MA 08/13/2014 (wallstreetpr) – Tekmira Pharmaceuticals Corporation (NASDAQ:TKMR) on August 12, 2014 lost approximately 22% of the overall value, in the backdrop of treatment for Ebola virus, which continues to haunt the world at present.
Drug Makers Scrambling to hunt Ebola Virus Treatment
It must also be noted that Tekmira Pharmaceuticals Corporation (NASDAQ:TKMR) is among those few companies which are struggling and scrambling to search for the right treatment of Ebola virus. The company also made some biggies in the previous week when it announced that the regulators had given a green signal to TKM-Ebola concoction which could be used on patients who have already been attacked by Ebola.
Shares Showed Positive Results Previous Week on Ebola Development
The shares in both, Canada as well as the U.S. climbed higher last week in context with the aforementioned news. Quite interestingly, these shares also touched a cumulative 82% mark intraday from the Thursday closing. The Vancouver, British Columbia-based Tekmira Pharmaceuticals Corporation U.S. shares reached $26 level, while as far as the Canadian shares were concerned, they tickled and touched past the boundary mark of $28.
However, just like the market gave too much to the company last week, it also stretched back its hand yesterday, as the shares witnessed a downward trend. The U.S. shares ended on $18.61 mark, while the Canadian shares finished the day at $20.25.
In the meanwhile, analysts in the previous week said that Tekmira Pharmaceuticals Corporation (NASDAQ:TKMR) would soon witness upside or an upward trend, but the investors, it felt, did not get the message straight and until Tuesday, the company remained low.
The Fear of Ebola
Deadly Ebola virus has continued to haunt everyone across the length and breadth of world through its negative and dangerous side effects. Also, any announcement from a company, in such a scenario, to mend or curtail effects of Ebola tends to give an upward shift to shares. But, it seems that the frenzy over deadly virus has taken a cooler note, thereby giving a downward shift to the virus.
