Has the Canadian Biotech Industry valuation changed over the past few years?

Investors are optimistic on the Canadian Biotechs industry, and appear confident in long term growth rates. The industry's 3-year average PS ratio of 23.5x is exceeded by the industry's current PS ratio of 32.6x.

Which industries have driven the changes within the Canadian Healthcare industry?

There are no additional sub-industries under this industry.

Canadian (TSX) Biotech Industry Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Fri, 21 Aug 2026	CA$3.1b	CA$93.7m	-CA$264,242,853.19	10.2x	-11.6x	32.6x
Sun, 19 Jul 2026	CA$2.8b	CA$91.2m	-CA$265,570,982.33	1.3x	-10.5x	30.7x
Tue, 16 Jun 2026	CA$2.5b	CA$91.2m	-CA$259,897,501.06	1.5x	-9.7x	27.8x
Thu, 14 May 2026	CA$2.8b	CA$88.5m	-CA$239,527,370.64	28.7x	-11.7x	31.6x
Sat, 11 Apr 2026	CA$2.7b	CA$85.8m	-CA$249,863,290.53	56.2x	-10.8x	31.4x
Mon, 09 Mar 2026	CA$2.8b	CA$92.4m	-CA$238,457,702.08	52.6x	-11.6x	30x
Wed, 04 Feb 2026	CA$2.7b	CA$95.5m	-CA$241,513,640.84	22.2x	-11.2x	28.3x
Fri, 02 Jan 2026	CA$2.4b	CA$95.6m	-CA$242,371,950.90	23.2x	-9.9x	25.1x
Sun, 30 Nov 2025	CA$2.4b	CA$98.2m	-CA$234,180,538.89	23x	-10.1x	24.1x
Tue, 28 Oct 2025	CA$2.2b	CA$95.7m	-CA$235,935,642.33	26.6x	-9.5x	23.4x
Thu, 25 Sep 2025	CA$1.8b	CA$95.6m	-CA$224,489,583.17	25.5x	-7.9x	18.5x
Sat, 23 Aug 2025	CA$1.7b	CA$90.9m	-CA$233,150,682.71	27.7x	-7.1x	18.2x
Mon, 21 Jul 2025	CA$1.5b	CA$91.1m	-CA$271,484,853.01	22.6x	-5.5x	16.4x
Wed, 18 Jun 2025	CA$1.5b	CA$90.6m	-CA$285,721,470.78	22.1x	-5.2x	16.3x
Fri, 16 May 2025	CA$1.8b	CA$94.1m	-CA$315,443,899.26	22.7x	-5.6x	18.7x
Sun, 13 Apr 2025	CA$1.4b	CA$92.1m	-CA$285,841,273.77	19.8x	-4.7x	14.7x
Tue, 11 Mar 2025	CA$1.6b	CA$88.7m	-CA$325,007,445.78	20.6x	-4.8x	17.5x
Thu, 06 Feb 2025	CA$1.6b	CA$87.5m	-CA$318,893,184.72	25.1x	-5x	18.3x
Sat, 04 Jan 2025	CA$1.5b	CA$85.6m	-CA$323,047,850.88	16x	-4.6x	17.5x
Mon, 02 Dec 2024	CA$1.5b	CA$83.4m	-CA$310,404,122.74	8.1x	-4.8x	18x
Wed, 30 Oct 2024	CA$1.4b	CA$80.4m	-CA$282,244,093.37	8.7x	-5x	17.7x
Fri, 27 Sep 2024	CA$975.6m	CA$80.2m	-CA$268,323,039.72	4.8x	-3.6x	12.2x
Sun, 25 Aug 2024	CA$978.6m	CA$80.2m	-CA$284,326,995.83	9.5x	-3.4x	12.2x
Tue, 23 Jul 2024	CA$1.1b	CA$76.1m	-CA$339,964,477.79	11.1x	-3.2x	14.2x
Thu, 20 Jun 2024	CA$1.1b	CA$76.8m	-CA$339,985,305.40	11.1x	-3.3x	14.6x
Sat, 18 May 2024	CA$1.1b	CA$77.1m	-CA$367,554,030.94	11.2x	-3.1x	14.8x
Mon, 15 Apr 2024	CA$925.0m	CA$79.5m	-CA$301,900,009.30	13.1x	-3.1x	11.6x
Wed, 13 Mar 2024	CA$1.1b	CA$91.6m	-CA$319,822,627.76	11x	-3.4x	11.9x
Fri, 09 Feb 2024	CA$1.0b	CA$87.2m	-CA$323,603,166.22	10x	-3.2x	11.8x
Sun, 07 Jan 2024	CA$3.6b	CA$86.2m	-CA$515,871,225.00	6.9x	-7x	42x
Tue, 05 Dec 2023	CA$3.8b	CA$86.1m	-CA$542,676,059.00	5.4x	-6.9x	43.6x
Thu, 02 Nov 2023	CA$3.7b	CA$89.1m	-CA$538,529,706.00	7.7x	-6.9x	41.8x
Sat, 30 Sep 2023	CA$3.9b	CA$88.8m	-CA$530,758,412.00	6x	-7.3x	43.7x
Mon, 28 Aug 2023	CA$4.0b	CA$87.4m	-CA$510,271,494.00	6.4x	-7.8x	45.5x


CA Market	-1.11%
Healthcare	-1.49%
Biotech	-0.27%
Biotech	-0.27%

Company	Last Price	7D	1Y	Valuation
NRX NurExone Biologic	CA$0.70	45.8% +CA$20.5m	-11.4%	PB23.6x
HBP Helix BioPharma	CA$2.00	11.1% +CA$15.3m	48.1%	PB10.4x
METX ME Therapeutics Holdings	CA$2.80	12.0% +CA$9.1m	-30.0%	PB131.9x
DTC Defence Therapeutics	CA$0.49	22.2% +CA$6.8m	-14.7%	PB6.9x
BCT BriaCell Therapeutics	CA$5.48	14.2% +CA$5.9m	-42.3%	PB1.4x

Announcement • 2h

PharmAla Biotech Provides Update On APA-01

PharmAla Biotech Holdings Inc. has been granted United States Patent No. 12,679,817, covering novel processes for preparing the (R)- or (S)-enantiomers of 3,4-methylenedioxymethamphetamine (MDMA) and the (R)- or (S)-enantiomers of N-methyl-1,3-benzodioxolylbutanamine (MBDB). MDMA and MBDB are chiral molecules, meaning each exists as two mirror-image forms, or enantiomers, with distinct pharmacological properties. Conventional manufacturing produces a racemic mixture — an equal blend of both enantiomers — and isolating a single enantiomer at commercial scale has historically been costly and low-yielding. The processes covered by the newly granted patent are directed at preparing individual enantiomers directly. PharmAla believes these processes will have significant value in the future economical production of R-MDMA, as well as of the Company’s own ALA-002 formulations. ALA-002, PharmAla’s lead drug candidate, is a patented, non-racemic MDMA formulation. The grant adds a manufacturing-process layer to PharmAla’s existing composition-of-matter and formulation intellectual property in the MDXX class. On May 13, 2026, PharmAla announced the execution of a definitive SPV Formation, Shareholder and License Agreement (the “SPV Agreement”) with Aluvaris Inc. (“Aluvaris”) and Diteba Inc. (“Diteba”), establishing a jointly-owned special purpose vehicle, Restora Neurosciences, intended to lead clinical and regulatory development of APA-01, PharmAla’s patented novel MDXX molecule. Two developments have since materially changed the context for that structure. First, on July 20, 2026, PharmAla executed a definitive license agreement granting Jupiter Neurosciences Inc. exclusive U.S. rights to ALA-002, demonstrating that PharmAla is able to monetize its assets directly on attractive terms while retaining meaningful downstream economics. Second, it has been publicly reported that Resilient Pharmaceuticals (formerly Lykos Therapeutics and MAPS Public Benefit Corporation) has resubmitted a New Drug Application for MDMA-assisted therapy for PTSD to the FDA. PharmAla is not a party to that application and cannot verify its status; however, if accurate, such a filing would represent a constructive development for the regulatory pathway applicable to MDXX-class therapeutics generally. In light of these developments, PharmAla has made the decision to exercise its option to cancel the proposed licensing of APA-01 to Restora Neurosciences, in accordance with the terms of the SPV Agreement. PharmAla retains full ownership of APA-01 and all associated intellectual property. The process undertaken with Aluvaris, Diteba and prospective partners demonstrated significant interest in APA-01 as a molecule for use in a diverse array of clinical disorders. PharmAla will continue to examine potential opportunities to develop APA-01 both in-house and by way of co-development. APA-01 is a patented, novel MDXX-class molecule owned by PharmAla, under evaluation for potential application in psychological trauma and neurological conditions including post-stroke neurorehabilitation and traumatic brain injury. APA-01 is an investigational compound. It has not been approved by the FDA or any other regulatory authority, is not the subject of an active Investigational New Drug application, and its safety and efficacy have not been established. ALA-002 is PharmAla’s lead drug candidate: a patented, non-racemic MDMA formulation that has received New Chemical Entity (NCE) designation from the FDA. ALA-002 has been designed with the goal of delivering an improved cardiovascular safety profile and reduced abuse liability relative to racemic MDMA, while preserving the therapeutic properties associated with MDMA-assisted therapy. ALA-002 is an investigational product that has not been approved by the FDA or any other regulatory authority, and its safety and efficacy have not been established.

Announcement • Aug 04

Defence Therapeutics Inc Announces CEO Changes

Defence Therapeutics Inc. announced the appointment of Dr. Amie Phinney, PhD, MBA, as Chief Executive Officer, effective August 1, 2026. As part of the leadership transition, Mr. Sébastien Plouffe, Founder and Chief Executive Officer, will now assume the position of Executive Chairman of the Board, where he will continue to play a critical leadership role in guiding the Company's strategic direction, financing initiatives, corporate partnerships, and long-term growth. Since joining Defence in 2025, Dr. Phinney has played a key role in supporting Defence's strategic evolution, strengthening its scientific and commercial positioning, and advancing the Accum® technology into the next-generation intracellular drug delivery platform. She joined Defence as Strategy & Business Advisor in July 2025 and was appointed to the Board of Directors in September 2025. Dr. Phinney brings more than two decades of international leadership experience spanning pharmaceutical research and development, biotechnology company creation, corporate strategy, business development, and commercialization. She previously held a range of scientific and strategic roles at Abbott and AbbVie (Chicago, USA), supporting strategic planning, alliance management, and business operations across multiple global R&D organizations. She subsequently served as Chief Scientific Officer of Lakeside Discovery, a venture-backed biotechnology company spun-out from Northwestern University in Chicago, advancing academic innovations into therapeutic programs. Most recently, she was the Senior Director of Partnerships and Business Development at adMare BioInnovations, where she helped launch and grow biotechnology companies emerging from Canadian research institutions. She is also the co-founder of Block Biosciences and served as its inaugural Chief Executive Officer, leading the academic biotechnology spinout in the development of first-in-class oncology therapeutics. Dr. Phinney holds a PhD in Biomedical Research from the University of Basel (Switzerland) and an MBA from Lake Forest Graduate School of Management (Chicago, USA). She has also completed executive education in corporate governance (Rotman School of Management, University of Toronto), private capital investment (Ivey Academy, Western University), high-performance negotiation (Kellogg School of Management, Northwestern University), and business leadership (Kenan-Flagler Business School, University of North Carolina at Chapel Hill). As Executive Chairman, Mr. Plouffe will continue to work closely with Dr. Phinney and the Board, focusing on corporate strategy, capital markets, business development, strategic partnerships, and governance, while supporting the Company's long-term growth objectives. Under Dr. Phinney's leadership, Defence Therapeutics will continue executing its strategy to expand the clinical and commercial potential of its proprietary Accum® platform across antibody-drug conjugates (ADCs), radiotherapeutics, and other targeted biologics, while advancing strategic collaborations with biotechnology and pharmaceutical partners.

Canadian (TSX) Biotech Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Vector Science and Therapeutics Corp Files Provisional Patent Application on Integrated Platform for Orthopedic Tissue Regeneration Using Peptides

PharmAla Biotech Provides Update On APA-01

NurExone Biologic Inc. announced that it has received CAD 1.066079 million in funding

Price target increased by 7.7% to CA$139

Less than half of directors are independent

New major risk - Revenue and earnings growth

Insufficient new directors

Third quarter 2026 earnings released: CA$0.006 loss per share (vs CA$0.012 loss in 3Q 2025)

New major risk - Shareholder dilution

No independent directors

Second quarter 2026 earnings released: EPS: CA$0.001 (vs CA$0.007 loss in 2Q 2025)

Briacell Therapeutics Corp Receives Fda Clearance to Initiate Bria-Pros+ Clinical Study in Prostate Cancer

Defence Therapeutics Inc Announces CEO Changes

New major risk - Share price stability

New minor risk - Shareholder dilution

First quarter 2026 earnings released