12 Best Canadian Stocks With Huge Upside Potential

2. Repare Therapeutics Inc. (NASDAQ:RPTX)

Number of Hedge Fund Holders: 10

Average Upside Potential as of June 20: 254.61%

Repare Therapeutics Inc. (NASDAQ:RPTX) is one of the best Canadian stocks with huge upside potential. As May began, Repare Therapeutics announced an out-licensing agreement with the Canadian biotechnology firm DCx Biotherapeutics, involving certain discovery platforms and intellectual property/IP. Under the terms of the agreement, Repare will receive $4 million in upfront and near-term payments from DCx.

Additionally, Repare will gain a 10% common equity position in DCx, which includes certain dilution protection rights. Repare is also eligible for potential future payments tied to out-licensing, commercial and clinical milestones, and low-single-digit tiered sales royalties from DCx’s specific product development. As part of the deal, DCx Biotherapeutics will retain 20 of Repare’s preclinical research employees. DCx will also acquire lease rights to specific laboratory facilities and equipment in Montreal, Canada. Furthermore, Repare has secured the right to appoint a nominee to DCx’s board of directors.

The out-licensed platforms from Repare include the clinically validated SNIPRx platform, along with early discovery-stage platforms such as SNIPRx-surf and STEP², and other IP. The SNIPRx platform helped develop targeted therapies for genomic instability and DNA damage repair. The SNIPRx-surf platform identifies cell surface targets in tumors or cancer models, using gene expression, protein features, and an ML algorithm. STEP² is a chemogenomic discovery platform and uses CRISPR-enabled genetic screens with small-molecule inhibitors to identify genetic lesions sensitive to these inhibitors.

Repare Therapeutics Inc. (NASDAQ:RPTX) is a clinical-stage precision oncology company that discovers and develops therapeutics in Switzerland and the US.