UPDATE 1-Tekmira delays cholesterol drug trial

* Says delay not to impact other drug programs

* To start cancer drug early-stage trial in Q4

* Shares fall

Sept 10 (BestGrowthStock) – Tekmira Pharmaceuticals Corp (TKM.TO: )
said it will delay the next trial of its experimental
cholesterol drug after a formulation used in the drug failed to
meet the company’s expectations, sending its shares down as
much as 12 percent.
Tekmira had planned to start the early-to mid-phase trial of
the product, TKM-ApoB, by the end of this year.

The company added that the delay will have no impact on any
of its other programs or those with its collaboration partners.

Tekmira is also evaluating opportunities to expand the
development of its cancer drug, TKM-PLK1, including a clinical
trial in collaboration with the U.S. National Cancer Institute.

The company said it plans to start an early-stage trial of
the cancer drug in the fourth quarter.

It also plans to file an investigational new drug
application for TKM-Ebola, its treatment for Ebola, in the
second half of 2011.

The company said it formally initiated the development of
its treatment for Ebola under the $140 million contract which
was awarded by the U.S. Department of Defense in July.

Shares of the company, which have gained about 17 percent
in value over the past three months, were down 7 percent at
C$1.53 Thursday morning on the Toronto Stock Exchange. They
earlier touched a low of C$1.45.
(Reporting by Isheeta Sanghi in Bangalore; Editing by Vyas

UPDATE 1-Tekmira delays cholesterol drug trial