Why Tekmira Pharmaceuticals (TKMR) Stock Is Soaring Today (Update)

Update (4:40 p.m.): Updated with Friday closing price.

NEW YORK (TheStreet) -- Tekmira Pharmaceuticals  (TKMR) soared Friday after the company announced Thursday afternoon the Food & Drug Administration had loosened its clinical hold on the company's developmental ebola drug, TKM-Ebola.

The company announced it had received a verbal commitment from the FDA to ease its hold from a full clinical hold to a partial clinical hold, which "enables the potential use of TKM-Ebola in individuals infected with Ebola virus," according to the Tekmira's statement.

The stock closed up 45.06% to $20.70. More than 28 million shares had changed hands, compared to the average volume of 612,942.

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TKMR Chart TKMR data by YCharts

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