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    Top 3 Canadian Pharma Stocks (Updated March 2023)

    Melissa Pistilli
    Apr. 04, 2023 01:30PM PST

    Canada’s pharma industry is a key contributor to the global pharma market. Here are the top Canadian pharma stocks by share price performance so far in 2023.

    colored test tubes and beaker

    The Canadian pharmaceutical industry has positioned itself firmly on the global map thanks to advances in biotechnology and investments in medical research and development (R&D). The life science sector is one of Canada’s key industries, and as a sub-sector the pharma industry represents 41 percent of the country'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 it one of the 10 top medical research nations on a global scale.

    The Canadian pharma sector is the 10th largest in the world and accounts for 2 percent of the global market. Even though the country doesn't even break the top 35 in terms of population — the nation held roughly 39.5 million people as of January 2023 — Canada’s pharma 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 by year-to-date performance. CSE- and TSXV-listed companies were considered, but didn’t make the cut. The top Canadian pharma stocks list below was compiled using TradingView’s stock screener, with all numbers current as of March 29, 2023.

    1. Antibe Therapeutics (TSX:ATE)

    Company Profile
     

    Year-to-date gain: 36.17 percent; market cap: C$31.29 million; current share price: C$0.64

    Antibe Therapeutics is developing novel therapeutics targeting the treatment of pain and inflammatory bowel disease. Antibe’s lead drug candidate is Otenaproxesul, a hydrogen sulfide-releasing derivative of naproxen for treating acute pain indications. It is a non-opioid painkiller that also avoids the gastrointestinal damage and bleeding caused by non-steroidal anti-inflammatory drugs.

    In February, the pharmaceutical company announced that is preparing to start Phase 2 clinical trials of Otenaproxesul in 2023's third quarter; it expects Phase 2 top-line data within 12 months.

    2. Aptose Biosciences (TSX:APS)

    Company Profile
     

    Year-to-date gain: 12.5 percent; market cap: C$83.71 million; current share price: C$0.90

    Aptose Biosciences is a clinical-stage precision medicine company developing a pipeline of small-molecule cancer therapeutics targeting unmet medical needs in oncology, focusing specifically on hematology initially.

    The company has two clinical-stage oral kinase inhibitors under development for hematologic malignancies: tuspetinib, which is in Phase 1/2 trials, and luxeptinib, currently in Phase 1 a/b trials.

    In late January, Aptose began dosing patients in its Phase 1/2 clinical trial of tuspetinib. It is an oral mutation-agnostic tyrosine kinase inhibitor being developed for the treatment of relapsed or refractory acute myeloid leukemia.

    3. Resverlogix (TSX:RVX)

    Company Profile
     

    Year-to-date gain: 7.41 percent; market cap: C$39.45 million; current share price: C$0.145

    Resverlogix is a late-stage clinical leader in epigenetics developing first-in-class therapies for patients suffering from chronic diseases, including cardiovascular disease and post-COVID-19 conditions known as “long COVID.” The lead epigenetic candidate in the company’s clinical pipeline is isapabetalone, designed for the treatment of cardiovascular disease and associated comorbidities.

    Through its partnership with life science commercial services provider EVERSANA, Resverlogix is working to rapidly commercialize apabetalone for cardiovascular disease, long COVID and pulmonary arterial hypertension in Canada and the US. The company is finalizing the Phase 3 study protocol of apabetalone for long COVID and is looking to launch the trial in the first half of 2023.

    In early March, Resverlogix shared two peer-reviewed studies that highlight apabetalone's possible benefits for the treatment of the aforementioned indications.

    Don’t forget to follow us @INN_LifeScience for real-time news updates!

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

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    Melissa Pistilli

    Melissa Pistilli

    Educational Content Specialist

    Melissa Pistilli has been reporting on the markets and educating investors since 2006. She has covered a wide variety of industries in the investment space including mining, cannabis, tech and pharmaceuticals. She helps to educate investors about opportunities in a variety of growth markets. Melissa holds a bachelor's degree in English education as well as a master's degree in the teaching of writing, both from Humboldt State University, California.

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    Melissa Pistilli

    Melissa Pistilli

    Educational Content Specialist

    Melissa Pistilli has been reporting on the markets and educating investors since 2006. She has covered a wide variety of industries in the investment space including mining, cannabis, tech and pharmaceuticals. She helps to educate investors about opportunities in a variety of growth markets. Melissa holds a bachelor's degree in English education as well as a master's degree in the teaching of writing, both from Humboldt State University, California.

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