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 3-year average PS ratio of 24.5x is lower than the industry's current PS ratio of 27.8x.

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
Mon, 15 Jun 2026	CA$2.5b	CA$91.2m	-CA$259,753,043.22	1.5x	-9.8x	27.8x
Wed, 13 May 2026	CA$2.8b	CA$88.5m	-CA$239,462,813.78	28.8x	-11.8x	31.8x
Fri, 10 Apr 2026	CA$2.6b	CA$85.8m	-CA$249,607,588.68	56.2x	-10.6x	30.7x
Sun, 08 Mar 2026	CA$2.8b	CA$92.4m	-CA$238,457,702.08	52.6x	-11.6x	30x
Tue, 03 Feb 2026	CA$2.7b	CA$95.6m	-CA$241,862,354.69	22.4x	-11x	27.8x
Thu, 01 Jan 2026	CA$2.4b	CA$95.6m	-CA$242,379,383.28	23.2x	-9.8x	24.8x
Sat, 29 Nov 2025	CA$2.3b	CA$98.2m	-CA$232,920,731.65	23x	-10x	23.7x
Mon, 27 Oct 2025	CA$2.2b	CA$95.7m	-CA$235,974,008.87	25.8x	-9.5x	23.4x
Wed, 24 Sep 2025	CA$1.8b	CA$95.6m	-CA$223,869,447.79	25.8x	-7.9x	18.5x
Fri, 22 Aug 2025	CA$1.7b	CA$90.3m	-CA$232,903,675.78	17.8x	-7.3x	18.8x
Sun, 20 Jul 2025	CA$1.5b	CA$91.1m	-CA$271,484,853.01	22.6x	-5.5x	16.4x
Tue, 17 Jun 2025	CA$1.5b	CA$90.5m	-CA$274,758,383.85	22.2x	-5.3x	16.1x
Thu, 15 May 2025	CA$1.8b	CA$95.2m	-CA$312,252,276.28	20.5x	-5.7x	18.7x
Sat, 12 Apr 2025	CA$1.3b	CA$92.1m	-CA$285,841,307.67	19.8x	-4.7x	14.5x
Mon, 10 Mar 2025	CA$1.6b	CA$88.7m	-CA$324,526,822.75	21.2x	-4.8x	17.5x
Wed, 05 Feb 2025	CA$1.6b	CA$87.5m	-CA$318,962,167.48	25x	-5x	18.3x
Fri, 03 Jan 2025	CA$1.4b	CA$85.6m	-CA$322,734,750.78	15.6x	-4.5x	16.8x
Sun, 01 Dec 2024	CA$1.5b	CA$83.4m	-CA$310,404,122.74	8.1x	-4.8x	18x
Tue, 29 Oct 2024	CA$1.4b	CA$80.4m	-CA$283,666,039.11	8.7x	-5x	17.7x
Thu, 26 Sep 2024	CA$981.2m	CA$80.2m	-CA$268,439,424.42	4.8x	-3.7x	12.2x
Sat, 24 Aug 2024	CA$969.0m	CA$80.2m	-CA$284,327,559.72	9.5x	-3.4x	12.1x
Mon, 22 Jul 2024	CA$1.1b	CA$76.1m	-CA$339,697,085.43	11.3x	-3.2x	14.2x
Wed, 19 Jun 2024	CA$1.1b	CA$76.8m	-CA$340,088,997.10	10.8x	-3.3x	14.7x
Fri, 17 May 2024	CA$1.2b	CA$75.6m	-CA$369,462,213.91	12.9x	-3.1x	15.4x
Sun, 14 Apr 2024	CA$949.2m	CA$79.5m	-CA$301,898,615.81	13.1x	-3.1x	11.9x
Tue, 12 Mar 2024	CA$1.1b	CA$91.6m	-CA$319,753,773.74	11x	-3.4x	11.9x
Thu, 08 Feb 2024	CA$1.0b	CA$87.2m	-CA$323,652,793.81	10x	-3.2x	11.9x
Sat, 06 Jan 2024	CA$3.6b	CA$86.2m	-CA$515,868,956.00	6.9x	-7x	41.9x
Mon, 04 Dec 2023	CA$3.8b	CA$86.0m	-CA$542,268,130.00	5.2x	-6.9x	43.6x
Wed, 01 Nov 2023	CA$3.7b	CA$89.1m	-CA$538,371,544.00	7.4x	-6.9x	41.8x
Fri, 29 Sep 2023	CA$3.9b	CA$88.8m	-CA$530,178,854.00	5.6x	-7.3x	43.7x
Sun, 27 Aug 2023	CA$4.0b	CA$87.4m	-CA$510,271,494.00	6.4x	-7.8x	45.5x
Tue, 25 Jul 2023	CA$4.1b	CA$81.5m	-CA$516,177,097.00	13.2x	-7.9x	49.7x
Thu, 22 Jun 2023	CA$4.0b	CA$86.4m	-CA$542,268,027.00	12.5x	-7.3x	45.8x


CA Market	1.37%
Healthcare	-3.57%
Biotech	-1.43%
Biotech	-1.43%

Company	Last Price	7D	1Y	Valuation
ATLE Atlas Energy	CA$0.17	12.9% +CA$12.6m	16.7%	PB4.2x
MBX Microbix Biosystems	CA$0.30	11.1% +CA$4.1m	0%	PS2.8x
EPRX Eupraxia Pharmaceuticals	CA$8.45	0.7% +CA$3.9m	48.2%	PB3.7x
DTC Defence Therapeutics	CA$0.54	5.9% +CA$2.3m	-31.6%	PB7.6x
MDMA Pharmala Biotech Holdings	CA$0.15	14.8% +CA$2.2m	47.6%	PS19x

Announcement • Jun 04

Spectral Medical and Vantive Announce Topline 12 Month Follow-Up Results from Tigris Trial

Spectral Medical and Vantive announced topline mortality data at 12 months for patients enrolled in the Tigris trial. The randomized-controlled trial evaluated the use of Polymyxin B Hemoadsorption (PMX) in adults with endotoxic septic shock. Complete 28-day and 90-day results of the Tigris trial were published in March of this year in The Lancet Respiratory Medicine. The full Bayesian analysis of Tigris revealed an absolute risk reduction for mortality of 10.3% at 28 days corresponding to a number needed to treat (NNT) to prevent one death of 9.7 and 15.5% at 90 days corresponding to a NNT of 6.5. As a secondary endpoint of the trial, preplanned follow-up was conducted on all enrolled Tigris study patients to assess vital status at 12 months. Mortality differences observed earlier in the study persisted through one year, with 12-month mortality of 56/106 (52.8%) in patients treated with PMX compared to 34/51 (66.7%) in patients receiving standard of care alone, representing an absolute risk reduction of 13.9% and a number needed to treat of 7.2. Initial Bayesian statistical analyses based solely on the randomized Tigris trial data, without incorporation of the informative prior from EUPHRATES, demonstrated a 95.9% probability of benefit for PMX at 12 months compared to standard care alone. Additional analyses are ongoing to include the combination of prior EUPHRATES data in Bayesian and non-Bayesian analyses and survival analyses out to one year. Vantive is Spectral's exclusive distributor of PMX in the U.S. and Canada and has non-exclusive rights to distribute EAA globally. Spectral Medical submitted the final Premarket Approval (PMA) module (Module 3) for PMX to the FDA on-May 28, 2026. If approved by the FDA, Vantive plans to commercialize both EAA and PMX, beginning in the United States, to support Targeted Rapid Endotoxin Adsorption (TREA) Therapy. TREA therapy brings precision medicine to sepsis, delivering rapid, decisive treatment for patients with endotoxic septic shock. The Tigris trial was a U.S.-based, multicenter, Phase 3 study evaluating PMX in adults with endotoxic septic shock (ESS), defined by an Endotoxin Activity Assay (EAA) level between 0.60 and 0.90. EAA is an FDA cleared, semiquantitative diagnostic test for measurement of endotoxin activity, allowing for rapid measurements to obtain results in approximately 30 minutes. PMX is not approved for use in the United States. PMX is a single-use therapeutic hemoperfusion device that removes endotoxin, which can cause sepsis, from the bloodstream and is guided by the Company’s FDA cleared Endotoxin Activity Assay (EAA), the clinically available test for endotoxin in blood. PMX is approved for therapeutic use in Japan and Europe, licensed by Health Canada, with over 360,000 units sold worldwide to date. In March 2009, Spectral obtained the exclusive development and commercial rights in the U.S. for PMX, and in November 2010, signed an exclusive distribution agreement for this product in Canada, where PMX is licensed but is not yet commercially available. In July 2022, the U.S. FDA granted Breakthrough Device Designation for PMX for the treatment of endotoxic septic shock. Approximately 330,000 patients are diagnosed with septic shock in North America each year. The Tigris Trial is a confirmatory study of PMX in addition to standard care vs standard care alone and is designed as a 2:1 randomized trial of 150 patients using Bayesian statistics. Endotoxic septic shock is a malignant form of sepsis. Complete results of the Tigris trial appeared in the May 2026 issue of the Lancet Respiratory Medicine.

Announcement • Jun 02

Defence Therapeutics Inc. Appoints Dr. John Lambert as Board Director, Effective 1 June 2026

Defence Therapeutics Inc. announced the appointment of Dr. John Lambert to its Board of Directors, effective immediately,1 June 2026. Dr. Lambert brings more than four decades of scientific leadership and pioneering expertise in the development of antibody-drug conjugates ("ADCs"), further strengthening Defence's strategic capabilities as the Company advances its ACCUM-enabled ADC platform and partnership programs. Dr. Lambert is internationally recognized as one of the leading experts in the ADC field. He previously served in multiple senior scientific and executive leadership roles at ImmunoGen, including Chief Scientific Officer, Executive Vice President of Research, and member of the Executive Committee. During his tenure, scientists at ImmunoGen developed ADC technologies that ultimately contributed to the Genentech/Roche therapy KADCYLA, approved in 2013 for HER2-positive breast cancer. The company also discovered the anti-CD38 antibody that became Sanofi's SARCLISA and advanced several ADC molecules into clinical development, including ELAHERE, approved for platinum-resistant ovarian cancer. ImmunoGen was subsequently acquired by AbbVie in 2024. Prior to joining ImmunoGen in 1987, Dr. Lambert was among the first scientists recruited to the Dana-Farber Cancer Institute at Harvard Medical School to work on ImmunoGen-funded programs dedicated to developing ADCs and immunotoxins as anti-cancer therapeutics, at a time when the field was still in its infancy. Dr. Lambert's scientific career also includes training at some of the world's most respected academic institutions. He graduated from Christ's College, University of Cambridge (UK), with a degree in Natural Sciences before earning a Ph.D. in Biochemistry from the University of Cambridge in 1976, where he worked on the structure of glycolytic enzymes under the supervision of Professor Richard N. Perham. He subsequently completed postdoctoral research at the University of California, Davis, focusing on ribosome structure, and later at the University of Glasgow, Scotland, where he worked on the arom multienzyme complex. Since 2018, Dr. Lambert has advised numerous biotechnology companies and venture capital firms on ADC technologies, development strategies, and translational programs. He is the author or co-author of more than 130 peer-reviewed scientific publications and was elected Fellow of the American Institute for Medical and Biological Engineering (AIMBE) in 2016.

Canadian (TSX) Biotech Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

New major risk - Financial position

Co-Founder recently bought CA$139k worth of stock

Vector Science & Therapeutics Corp. Announces Appointment of Dexter Fowler as Chief Athletic Officer for Its Valor Platform

New major risk - Financial position

Onco-Innovations Initiates API Process Development and Intermediate Scale-Up Program for Proprietary PNKP Inhibitor Technology

New minor risk - Share price stability

Spectral Medical and Vantive Announce Topline 12 Month Follow-Up Results from Tigris Trial

New minor risk - Shareholder dilution

BriaCell Therapeutics Corp. has completed a Follow-on Equity Offering in the amount of $4.710225 million.

New major risk - Financial position

Defence Therapeutics Inc. Appoints Dr. John Lambert as Board Director, Effective 1 June 2026

New major risk - Financial position

We're Hopeful That Eupraxia Pharmaceuticals (TSE:EPRX) Will Use Its Cash Wisely

Second quarter 2026 earnings released: CA$0.01 loss per share (vs CA$0 in 2Q 2025)

New minor risk - Share price stability

Pharmala Biotech Holdings Inc., Annual General Meeting, Jul 09, 2026