Canada’s biotech sector is residence to firms pursuing cutting-edge therapies and medical applied sciences.
Wanting forward into 2024, some market individuals anticipate to see extra investor curiosity in biotech as a number of traits take maintain — these embrace a higher concentrate on personalised medication, most cancers immunotherapies and extra.
Towards that backdrop, which Canadian biotech shares are performing the most effective? Under the Investing Information Community outlines the three TSX-listed biotech shares have seen the largest beneficial properties year-on-year. Knowledge was gathered on January 18, 2024, utilizing TradingView’s inventory screener, and firms listed had market caps above C$50 million at the moment.
Each TSX and TSXV shares had been thought of, however no TSXV firms made the listing this time.
1. Antibe Therapeutics (TSX:ATE)
Yr-on-year achieve: 41.79 p.c; market cap: C$53.69 million; share worth: C$0.95
Antibe Therapeutics is targeted on growing remedies for persistent ache and irritation. Its flagship product, otenaproxesul, is a substitute for opioids and has confirmed to be gentler on the gastrointestinal (GI) tract than different non-addictive, non-steroidal anti-inflammatory medicine, which have been proven to trigger ulcers and GI bleeding after lengthy use.
Antibe’s first scientific examine on a brand new formulation of otenaproxesul concluded in November 2023. The corporate plans to expedite the drug improvement course of by conducting a Section II post-operative trial on sufferers recovering from surgical bunionectomies (removing of a bunion), after which it’ll meet with the US Meals and Drug Administration (FDA) to put the groundwork for a Section III trial. Antibe has not but launched dates for these trials.
One other drug in Antibe’s pipeline is a non-addictive analgesic derived from ketoprofen. The corporate is additionally at present researching a therapeutic answer for inflammatory bowel illness.
2. Cardiol Therapeutics (TSX:CRDL)
Yr-on-year achieve: 40.2 p.c; market cap: C$91.81 million; share worth: C$1.43
Cardiol Therapeutics is a biopharma firm that’s growing progressive remedies for irritation and fibrosis in cardiovascular circumstances. Its analysis efforts are concentrated in three key areas: pericarditis, which is irritation of the membrane surrounding the center; myocarditis, which is irritation of the center muscle; and coronary heart failure.
Cardiol is at present growing two therapies. Its lead candidate, CardiolRX, is geared at treating uncommon coronary heart ailments. The corporate introduced in early January that it has exceeded 50 p.c of the enrollments required to proceed with Section II ARCHER trials of CardiolRX for the therapy of acute myocarditis.
CRD-38, a drug formulation of cannabidiol, is at present being researched by the corporate for its efficacy in treating coronary heart circumstances subcutaneously.
3. Knight Therapeutics (TSX:GUD)
Yr-on-year achieve: 7.39 p.c; market cap: C$587.55 million; share worth:C$5.67
Knight Therapeutics is a specialty pharmaceutical firm that’s concerned within the licensing, advertising and commercialization of medicine in Latin America, Europe and the Commonwealth of Unbiased States.
In December 2023, the corporate entered right into a licensing settlement with Supernus Prescription drugs (NASDAQ:SUPN) to convey ADHD remedy Qelbree to Canada. The drug was authorized by the FDA in 2021 and is at present present process extra Section IV trials, with extra set to start in 2024. In an announcement saying the partnership, Knight CEO Samira Sakhia expressed her need to see the drug authorized and made out there to Canadians coping with ADHD.
Extra lately, Knight introduced the launch of IMVEXXY, a therapy choice for dyspareunia in postmenopausal girls.
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Securities Disclosure: I, Meagen Seatter, maintain no direct funding curiosity in any firm talked about on this article.
Editorial Disclosure: Cardiol Therapeutics is a shopper of the Investing Information Community. This text isn’t paid-for content material.
