Biotech is a dynamic industry that is driving scientific advances and innovation in healthcare. In Canada, the biotech sector is home to companies pursuing cutting-edge therapies and medical technologies.
Here the Investing News Network profiles the four best-performing Canadian biotech stocks on the TSX, TSXV and CSE, based on year-on-year gains. Data on these companies was collected on April 10, 2026, using TradingView's stock screener, and companies with market caps above C$10 million at that time were considered.
Read on to learn what's been driving these Canadian biotech firms.
1. Bright Minds Biosciences (CSE:DRUG)
Year-on-year gain: 187.57 percent
Market cap: C$1.16 billion
Share price: C$115.66
Bright Minds Biosciences is developing novel serotonin agonists targeting neurocircuit abnormalities linked to neuropsychiatric disorders and epilepsy, designing next-generation treatments that aim to retain the therapeutic benefits of psychedelics while minimizing side effects.
Its lead candidate, BMB-101, a selective 5-HT2C receptor agonist, has shown encouraging preclinical efficacy by stopping seizures in an epilepsy mouse model, evaluated jointly with Firefly Neuroscience (NASDAQ:AIFF).
The company’s share price surged nearly 1,500 percent in October 2024 following H. Lundbeck’s acquisition announcement of a competitor focused on similar targets. Strengthening its epilepsy expertise, Bright Minds expanded its scientific advisory board in early 2025 by adding five leaders in the field.
Also in 2025, Bright Minds launched the BREAKTHROUGH study, an open-label Phase 2 trial evaluating BMB-101 in adults with absence epilepsy or developmental and epileptic encephalopathy.
Bright Minds reported positive top-line results from the trial in January 2026.
The company subsequently closed an upsized US$175 million public offering to fund global registrational epilepsy trials and its new Phase 2a Prader-Willi syndrome program.
2. Eupraxia Pharmaceuticals (TSX:EPRX)
Year-on-year gain: 115.87 percent
Market cap: C$599.66 million
Share price: C$9.52
Eupraxia Pharmaceuticals is developing clinical candidates that employ its DiffuSphere technology, which delivers treatments to the targeted tissues.
Its current clinical candidates are EP‑104GI for eosinophilic esophagitis and EP‑104IAR for knee osteoarthritis. The firm is also evaluating DiffuSphere‑based formulations for additional inflammatory and oncology indications.
Eupraxia has continued to advance the treatment through clinical trials in 2025 and released multiple rounds of positive data from its Phase 1b/2a trial cohorts. This past March, Eupraxia reported that the highest‑dose cohorts in the Phase 1b/2a portion of its RESOLVE trial achieved near‑complete normalization of esophageal tissue and clinical remission rates of about 76 percent at 24 weeks after a single dose of EP‑104GI.
Following a US$63.2 million equity raise in February, now expects its cash runway to extend into the first half of 2028 as it heads toward Phase 2b top‑line data in Q3 of this year.
3. Sernova Biotherapeutics (TSXV:SVA)
Year-on-year gain: 8.82 percent
Market cap: C$60.85 million
Share price: C$0.19
Sernova Biotherapeutics is a clinical‑stage regenerative medicine company developing an implantable bio‑hybrid organ system called the Cell Pouch. The firm's aim with this technology is to functionally cure chronic diseases, including type 1 diabetes and certain thyroid and blood disorders.
The company is also advancing Cell Pouch‑based programs for hypothyroid disease after thyroid removal and hemophilia A, in collaboration with Evotec (NASDAQ:EVO) for renewable stem‑cell–derived islet‑like clusters.
In early 2026, Sernova raised C$7.1 million in new equity and convertible debt and plans to retire about C$17 million of obligations, materially de‑levering the balance sheet to extend its Cell Pouch development runway.
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Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
