Top Canadian Pharma Stocks

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The Canadian pharmaceutical industry has positioned itself firmly on the global map thanks to advances in biotechnology and investments in medical research and development.

The life science sector is one of Canada’s key industries, and as a sub-sector the pharmaceutical industry represents 41 percent of Canada’s life science gross domestic product.

“Canada’s commercially oriented research network takes innovation from lab to market; joint investment opportunities in research allow for R&D result optimization; and the responsive and efficient regulatory environment facilitates business operations,” according to Invest in Canada.

In fact, the organization notes that 5 percent of the world’s clinical trials take place in Canada, making the country one of the 10 top medical research nations in the world.

Overall, the Canadian pharma sector is the 10th largest in the world and accounts for 2 percent of the global market. With a population that’s roughly 37.4 million, Canada’s pharmaceutical market share is profound, and the country is home to companies making moves.

Below the Investing News Network profiles the top Canadian pharma stocks on the TSX and TSXV in terms of year-to-date performance. The top Canadian pharma stocks list below was compiled using TradingView’s stock screener, with all numbers current as of July 12, 2021. Each pharma stock on the list had a market capitalization of between C$10 million and C$500 million at that time.

1. Devonian Health Group (TSXV:GSD)

Current share price: C$0.50; year-to-date gain: 284.6 percent

Late-stage pharmaceutical company Devonian Health Group develops novel therapeutics, including prescription botanical drugs and cosmeceuticals from plant materials and algae. The company’s pipeline of product candidates targets worldwide unmet medical needs, including the treatment of inflammatory autoimmune diseases such ulcerative colitis and atopic dermatitis.

In March, Devonian received a notice of allowance from the US Patent and Trademark Office (USPTO) for its patent application covering the use of Thykamine in adult patients with mild to moderate atopic dermatitis. This top Canadian pharma stock hit a year-to-date high of C$0.70 on May 27.

2. PsyBio Therapeutics (TSXV:PSYB)

Current share price: C$0.46; year-to-date gain: 211.1 percent

PsyBio Therapeutics is developing novel formulations of psychoactive medications produced by genetically modified bacteria for the treatment of mental health challenges and other disorders.

In July, the Canadian pharma stock added to its intellectual property portfolio with the filing of a new patent application with the USPTO for psilocybin and norbaeocystin compositions. PsyBio’s intellectual property portfolio now includes five pending provisional patent applications and one pending non-provisional patent application. The company plans on filing an investigational new drug application around the end of 2021. Shares of PsyBio began trading on February 25 at C$0.90.

3. Advanced Proteome Therapeutics (TSXV:APC)

Current share price: C$0.45; year-to-date gain: 200 percent

Third on this list of top Canadian pharma stocks is Advanced Proteome Therapeutics, a company that is developing anti-cancer therapeutics. The firm is also commercializing a technology platform that is intended for the chemical modification of protein therapeutics.

Advanced Proteome recently raised C$1.5 million in a private placement. Its share price reached a year-to-date high of C$0.51 on April 12.

4. Sernova (TSXV:SVA)

Current share price: C$1.41; year-to-date gain: 110.4 percent

Sernova is a clinical-stage regenerative medicine company developing technologies for the treatment of chronic debilitating metabolic diseases such as diabetes, blood disorders and other diseases treated through the replacement of proteins and hormones missing within the body. Sernova’s Cell Pouch System is in US Phase 1/QQ clinical evaluation for the treatment of insulin-dependent diabetes.

In January, Sernova presented positive preliminary safety and efficacy data for the Cell Pouch System; in a study of patients with type 1 diabetes it showed sustained clinical benefits through multiple efficacy indicators, as well as ongoing safety and tolerability. The company’s success recently attracted C$23 million in investments from Canaccord Genuity and Leede Jones Gable. Also this year, the company earned a spot on the TSX Venture 50, a list of the exchange’s top-performing companies.

Sernova’s share price hit a year-to-date high of C$2.87 on January 19.

5. Avricore Health (TSXV:AVCR)

Current share price: C$0.19; year-to-date gain: 100 percent

Avricore Health is a pharmacy service innovator focused on acquiring and developing early stage technologies aimed at moving pharmacy forward. Through HealthTab, its flagship offering, the company’s goal is to make actionable health information more accessible by creating the world’s largest network of rapid-testing devices in community pharmacies.

In early February, Avricore completed a US$1.54 million financing. In June, the company signed a master agreement to pilot its HealthTab platform for diabetes management in select Shoppers Drug Mart pharmacies. This top Canadian pharma stock hit a year-to-date high of C$0.69 on February 9.

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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Avricore Health is a client of the Investing News Network. This article is not paid-for content.