|10-02-2014, 04:14 PM||#1|
Ebola diagnosis in the U.S. rattles premarket stock trading
Biotech companies working on Ebola drugs were of the main drivers during premarket on Wednesday in the U.S, in the wake of the first diagnosis of a patient in the U.S. with Ebola.
Shares rallied in aftermarket hours on Tuesday and continued to surge early Wednesday.
U.S. shares of Canada-based Tekmira Pharmaceuticals soared nearly 30% before the opening and were among the most active in the NASDAQ.
Tekmira shares have been witnessing heavy interest and rose more than 100% in 2014 so far. Tekmira’s Ebola drug was tested in West Africa in September in a bid to go faster with the trials to cure the disease.
Shares in Sarepta Therapeutics jumped 8.3%. The Cambridg-based firm specializes on development of treatments or rare diseases. BioCryst Pharmaceuticals climbed 15%.
Lakeland Industries, a firm that makes protective wear for healthcare and first responders, jumped 11%.
The diagnosis of the Ebola case also spurred worries travel might decline. Shares of airline stocks were weaker.
Delta Air Lines dropped nearly 3%, while JetBlue Airways fell 2.6%.
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