12 Best Canadian Penny Stocks to Buy According to Analysts

2. AbCellera Biologics Inc. (NASDAQ:ABCL)  

Upside Potential: 292.65%  

Stock Price as of January 5: $3.13  

Number of Hedge Fund Holders: 13  

AbCellera Biologics Inc. (NASDAQ:ABCL) is a clinical-stage biotechnology company that has been making significant strides in the development of innovative antibody therapies. The company has a strong foundation in antibody discovery and development and has been transitioning to a clinical-stage biotech by focusing on advancing its internal programs and building its pipeline capabilities.

One of the key areas of focus for AbCellera Biologics Inc. (NASDAQ:ABCL) is its T-cell engager (TCE) platform, which has significant potential in the treatment of cancer. The TCE platform is a technology that enables the creation of bispecific antibodies that can selectively activate T-cells to attack cancer cells. The company believes that its TCE platform has the potential to be a game-changer in the treatment of cancer, and is investing heavily in its development.

AbCellera Biologics Inc. (NASDAQ:ABCL) has already demonstrated the efficacy of its TCE platform in preclinical studies and is now working to advance its lead TCE candidates into clinical trials. The company is also exploring the potential of its TCE platform in combination with other therapies, such as checkpoint inhibitors, to enhance its efficacy. With its TCE platform, AbCellera Biologics Inc. (NASDAQ:ABCL) is poised to make a significant impact in the treatment of cancer and is well-positioned to establish itself as a leader in the field of immuno-oncology.

AbCellera Biologics Inc. (NASDAQ:ABCL) is also prioritizing its internal programs, with a focus on advancing its lead assets, including ABCL635 and ABCL575, into clinical trials. The company is also investing in the development of a new industry-standard quality manufacturing facility and has established partnerships with major pharmaceutical companies, including Eli Lilly.