The shares of the Canadian pharmaceutical company Tekmira increased by approximately 25 percent in Friday's trading after federal regulators cleared the use of the Ebola trial drug.

The Federal Health Authorities put a hold on the experimental drugs developed by Tekmira earlier this month, which caused the company's shares to plummet.

Like Us on Facebook

However, after the FDA removed safety restrictions regarding the use of the trial drug, the company's shares increased by a total of 58 percent since the ban took effect.

Tekmira Pharmaceuticals said that the U.S. FDA modified a suspension placed on the company after human testing revealed possible safety concerns.

The Vancouver-based company has a US$140 million contract with the U.S. government to develop the TKM-Ebola, a drug that can combat the virus by attacking its genetic makeup.

Maxim Group analyst Jason Kolbert told the New York Post that the release of the ban can possibly lead to the authorized use of the drug "if needed" in the United States.

"The ensuing Ebola outbreak and the danger that is poses to the United states and the rest of the world set the stage for [the latest FDA action], along with the lack of adequate therapeutic agents against Ebola and the potential viability of TKM-Ebola as a treatment option," Kolbert said in an interview on Friday.

Meanwhile, the World Health Organization has already announced on Friday that the Ebola outbreak is now an international public health emergency.

The West Africa Ebola outbreak is the largest WHO has ever encountered. It has now taken the lives of more than 1,700 people with 1,070 who are still sick.

Tagstrial drug