Biotech is a dynamic industry that is driving scientific advancements and innovation in healthcare. In Canada, the biotech industry is home to companies pursuing cutting-edge therapies and medical technologies.
Here, the Investing News Network profiles the five best-performing Canadian biotech stocks based on their year-on-year gains.
Year-on-year gain: 2,131 percent
Market cap: C$391.38 million
Share price: C$56.00
Bright Minds Biosciences is focused on developing novel treatments for neuropsychiatric disorders and pain. Its portfolio consists of serotonin agonists designed to target neurocircuit abnormalities that make disorders like epilepsy, post-traumatic stress disorder and depression difficult to treat.
The company’s drugs have been designed to potentially retain the powerful therapeutic aspects of psychedelic and other serotonergic compounds, while minimizing the side effects, thereby creating superior drugs to first-generation compounds such as psilocybin.
Bright Minds is in Phase 2 clinical trials of its candidate BMB-101 in patients with classic absence epilepsy and developmental epileptic encephalopathy.
Year-on-year gain: 369.42 percent
Market cap: C$95.72 million
Share price: C$5.68
Year-on-year gain: 217.07 percent
Market cap: C$104.81 million
Share price: C$1.30
Medicenna is a clinical-stage immuno-oncology company specializing in the development of innovative therapies for patients with challenging unmet needs. Its focus is on creating novel, highly selective versions of cytokines — small proteins that play a crucial role in regulating immune responses — such as IL-2, IL-4 and IL-13, which it refers to as “Superkines” and “empowered superkines.”
Medicenna’s lead candidate, MDNA11, has demonstrated therapeutic activity and an acceptable safety profile during clinical trials of monotherapy dose escalation in treating patients with advanced solid tumors.
Year-on-year gain: 27.86 percent
Market cap: C$149.33 million
Share price: C$1.79
Cardiol Therapeutics is a biopharma company developing innovative treatments for inflammation and fibrosis in cardiovascular conditions. Its research is concentrated on pericarditis, which is inflammation of the membrane surrounding the heart; myocarditis, or inflammation of the heart muscle; and heart failure.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Cardiol Therapeutics is a client of the Investing News Network. This article is not paid-for content.
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