6 www.lexpert.ca
Feature
exchange. Two other Canadian biomed
companies did likewise. Hamilton, Ont.-
based Fusion Pharmaceuticals also listed
only on Nasdaq in June, as did Vancouver's
AbCellera Biologics Inc. in December — at
a whopping US$483 million.
As Bloomberg reported in mid-De-
cember, AbCellera's IPO pushed the total
value of Canadian IPOs in 2020 to $5.72
billion, taking the country's IPO market to
its highest level since 2014. e AbCellera
offering exemplified a strong year for IPOs
in the pharmaceutical industry, as the
pandemic raised interest in companies
creating novel therapies.
e Nasdaq-only listings are "really a
reflection of the fact that [the companies]
attracted a lot of U.S. . . . venture capital,"
says Grant.
Many of the investments have come from
the U.S., on the Nasdaq exchange, "but
there's a lot of action here, too," Reicin says,
with more U.S. venture capital funds coming
up to Canada. New Canadian venture capital
funds are emerging as well.
Conversely, one company that made an
IPO only on the Toronto Stock Exchange
in March is Eupraxia Pharmaceuticals, a
clinical-stage biotechnology company based
in Victoria, B.C., which likely reflected its
FIVE TOP CANADIAN
BIOTECH STOCKS OF 2020
1. MedMira
Market cap: $154.72 million;
current share price: $0.23;
yearly gain: 840 per cent
2. ImmunoPrecise Antibodies
Market cap: $347.3 million;
current share price: $20.92;
yearly gain: 684.91 per cent
3. SQI Diagnostics
Market cap: $81.04 million;
current share price: $0.22;
yearly gain: 390.91 per cent
4. StageZero Life Sciences
Market cap: $42.37 million;
current share price: $0.71;
yearly gain: 157.14 per cent
5. Microbix Biosystems
Market cap: $44.6 million;
current share price: $0.42;
yearly gain: 75 per cent
SOURCE: Investing News
