The Smartest Investors Club
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Smartest Investors Club

Investing

Top 3 Canadian Biotech Stocks

by January 26, 2024
January 26, 2024
Top 3 Canadian Biotech Stocks

Canada’s biotech sector is home to companies pursuing cutting-edge therapies and medical technologies.

Looking ahead into 2024, some market participants expect to see more investor interest in biotech as a variety of trends take hold — those include a greater focus on personalized medicine, cancer immunotherapies and more.

Both TSX and TSXV stocks were considered, but no TSXV companies made the list this time.

1. Antibe Therapeutics (TSX:ATE)

Company Profile

Year-on-year gain: 41.79 percent; market cap: C$53.69 million; share price: C$0.95

Antibe Therapeutics is focused on developing treatments for chronic pain and inflammation. Its flagship product, otenaproxesul, is an alternative to opioids and has proven to be gentler on the gastrointestinal (GI) tract than other non-addictive, non-steroidal anti-inflammatory drugs, which have been shown to cause ulcers and GI bleeding after long use.

Antibe’s first clinical study on a new formulation of otenaproxesul concluded in November 2023. The company plans to expedite the drug development process by conducting a Phase II post-operative trial on patients recovering from surgical bunionectomies (removal of a bunion), after which it will meet with the US Food and Drug Administration (FDA) to lay the groundwork for a Phase III trial. Antibe has not yet released dates for these trials.

Another drug in Antibe’s pipeline is a non-addictive analgesic derived from ketoprofen. The company is also currently researching a therapeutic solution for inflammatory bowel disease.

2. Cardiol Therapeutics (TSX:CRDL)

Press ReleasesCompany Profile

Year-on-year gain: 40.2 percent; market cap: C$91.81 million; share price: C$1.43

Cardiol Therapeutics is a biopharma company that is developing innovative treatments for inflammation and fibrosis in cardiovascular conditions. Its research efforts are concentrated in three key areas: pericarditis, which is inflammation of the membrane surrounding the heart; myocarditis, which is inflammation of the heart muscle; and heart failure.

Cardiol is currently developing two therapies. Its lead candidate, CardiolRX, is geared at treating rare heart diseases. The company announced in early January that it has exceeded 50 percent of the enrollments required to proceed with Phase II ARCHER trials of CardiolRX for the treatment of acute myocarditis.

CRD-38, a drug formulation of cannabidiol, is currently being researched by the company for its efficacy in treating heart conditions subcutaneously.

3. Knight Therapeutics (TSX:GUD)

Company Profile

Year-on-year gain: 7.39 percent; market cap: C$587.55 million; share price:C$5.67

Knight Therapeutics is a specialty pharmaceutical company that is involved in the licensing, marketing and commercialization of drugs in Latin America, Europe and the Commonwealth of Independent States.

In December 2023, the company entered into a licensing agreement with Supernus Pharmaceuticals (NASDAQ:SUPN) to bring ADHD therapy Qelbree to Canada. The drug was approved by the FDA in 2021 and is currently undergoing additional Phase IV trials, with more set to commence in 2024. In a statement announcing the partnership, Knight CEO Samira Sakhia expressed her desire to see the drug approved and made available to Canadians dealing with ADHD.

More recently, Knight announced the launch of IMVEXXY, a treatment option for dyspareunia in postmenopausal women.

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

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
Lobo Tiggre: Gold Stocks Still on Sale, How I’m Playing Uranium Right Now
next post
German defense minister says country is not ready to defend itself against Russian threat

You may also like

Oil and Gas Price Update: Q1 2025 in...

Skyharbour Completes Majority Earn-In and Forms Joint-Venture with...

Crypto Market Recap: Loopscale Faces US$5.8 Million Hack,...

Sage Potash Closes Private Placement of $1,822,500

Trump’s Sweeping Tariffs Ignite Global Trade War, Drawing...

Cardiol Therapeutics Announces Publication of Research in the...

Appia Announces Closing of PCH Project Acquisition

Tech 5: Bitcoin’s Price Sets Five New Records,...

Lithium Market Update: Q1 2024 in Review

Reinstatement to Quotation

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • OpenAI’s Sam Altman thanks Sen John Fetterman for ‘normalizing hoodies’

    • Former Supreme Court Justice David Souter dead at 85

    • Ukraine says it has uncovered Hungarian spy network working in border region

    • Trump claims ‘I don’t know her’ and ‘listened to’ RFK Jr about surgeon general pick getting MAGA pushback

    • Rubio just got an additional job in Trump’s administration — and he’s not the only one wearing multiple hats

    Categories

    • Business (1,633)
    • Investing (4,791)
    • Politics (7,539)
    • World (6,129)
    • Terms & Conditions
    • Privacy Policy
    • About us

    Disclaimer: thesmartestinvestorsclub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 thesmartestinvestorsclub.com | All Rights Reserved


    Back To Top