13 Best Canadian Penny Stocks to Invest in Now

8. AbCellera Biologics Inc. (NASDAQ:ABCL)

Closing Stock Price as of April 17^th: $2.42

Number of Hedge Fund Holders: 20

As a biotechnology company, ​AbCellera Biologics Inc. (NASDAQ:ABCL) specializes in the discovery and development of antibody-based therapies for various conditions, including cancer, metabolic and endocrine disorders, and autoimmune diseases. The company employs a proprietary platform that integrates computational tools and other technology to better identify and develop antibodies. ABCL has a promising internal pipeline of preclinical candidates.

AbCellera Biologics Inc. (NASDAQ:ABCL) is transitioning from a platform and partnership company to a clinical-stage biotech, with two programs positioned for filings in Q2 2025. The company closed 2024 with over $800 million in available liquidity and completed significant investments in its platform and facilities, including a new headquarters and an upcoming clinical manufacturing facility scheduled to come online in 2025. ABCL has reduced new discovery partnership activities while maintaining a robust portfolio of more than 20 preclinical programs with the potential to become highly differentiated assets. This is the primary factor that earned ABCL the eighth place on our list of the best penny stocks to consider.

AbCellera Biologics Inc. (NASDAQ:ABCL) maintains a strong financial position with approximately $650 million in cash and equivalents, plus roughly $190 million in available committed government funding. For 2025, cash usage for operating activities is expected to be similar to 2024, with investments in PP&E at approximately half of 2024 levels and weighted towards the first half of the year. The company believes it has sufficient liquidity to fund well beyond the next 3 years of increasing pipeline investments, with key milestones including clinical starts in 2025, first clinical readouts in 2026, and the election of approximately 2 additional development candidates per year.