1. Briacell Therapeutics

Current share price: C$10.70; year-to-date gain: 78.93 percent

First on this list of top Canadian biotech stocks is Briacell Therapeutics (TSXV:BCT,NASDAQ:BCTX), which is developing immunotherapies for treating cancer and infectious diseases. The company’s lead candidate, Bria-IMT, is an immunotherapy for the treatment of advanced breast cancer.

Briacell is currently enrolling advanced breast cancer patients in a Phase I/IIa combination study of Bria-IMT using Incyte’s (NASDAQ:INCY) checkpoint inhibitors, retifanlimab and epacadostat. Shares of the Canadian biotech stock hit a 2021 high point of C$15.75 on December 1.

2. Rapid Dose Therapeutics

Current share price: C$0.52; year-to-date gain: 65.08 percent

Rapid Dose Therapeutics (CSE:DOSE) is developing drug-delivery technology, and its flagship product is QuickStrip, a thin, orally dissolvable film that can be infused with active ingredients such as nutraceuticals, pharmaceuticals, vaccines and cannabis. According to the company, QuickStrip allows these ingredients to be delivered quickly into the bloodstream, resulting in rapid onset of the active ingredient.

Rapid Dose and McMaster University recently reported preliminary results from an investigation of an orally delivered vaccine candidate for COVID-19. The company has also received its Health Canada cannabis sales license. Shares reached a year-to-date high of C$0.66 on September 20.

3. PsyBio Therapeutics 

Current share price: C$0.24; year-to-date gain: 69.41 percent

PsyBio Therapeutics (TSXV:PSYB) is developing novel formulations of psychoactive medications produced by genetically modified bacteria for the treatment of mental health and other disorders.

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

4. Alpha Cognition

Current share price: C$1.33; year-to-date gain: 86.27 percent

Clinical-stage biopharma company Alpha Cognition is developing novel treatments for underserved neurodegenerative diseases like Alzheimer’s disease and amyotrophic lateral sclerosis (ALS).

In early September, the company announced that the US Food and Drug Administration had accepted the IND application for its lead candidate, ALPHA-1062, a proprietary, delayed-release oral tablet formulation designed to treat mild to moderate Alzheimer’s. The company plans to initiate a pivotal clinical study into the relative bioavailability of ALPHA-1062. If successful, Alpha Cognition will submit a new drug application in 2022. Shares reached a year-to-date high of C$2.49 on September 14.

5. ProMIS Neurosciences

Current share price: C$0.13; year-to-date gain: 30 percent

ProMIS Neurosciences (TSX:PMN)is a development-stage company focused on creating treatments for neurodegenerative diseases, including Alzheimer’s, ALS and Parkinson’s disease.

In late May, the top Canadian biotech stock announced the initiation of producer cell line development for PMN310, a potential antibody therapy for Alzheimer’s. The manufacturing of the antibody therapeutics will be carried out by Selexis using the company’s proprietary SUREtechnology platform. The stock reached its year-to-date high for 2021 on June 8 at C$0.28.