3 TSX Penny Stocks With Market Caps Under CA$90M

Fri, October 3, 2025 at 3:05 PM EDT 4 min read

In Canada, recent economic indicators show signs of stabilization, with the labor market steadying and inflation metrics aligning with expectations. As the broader stock market experiences a period of momentum and potential volatility, investors might find opportunities in lesser-known areas like penny stocks. Although considered niche today, penny stocks can offer significant growth potential when they are backed by strong financial fundamentals.

Click here to see the full list of 414 stocks from our TSX Penny Stocks screener.

We’re going to check out a few of the best picks from our screener tool.

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Medicenna Therapeutics Corp. is a clinical-stage immunotherapy company focused on developing and commercializing Superkines and empowered Superkines for treating cancer, inflammation, and immune-mediated diseases, with a market cap of CA$80.07 million.

Operations: Medicenna Therapeutics Corp. currently does not have any reported revenue segments.

Market Cap: CA$80.07M

Medicenna Therapeutics, a pre-revenue biotech firm with a market cap of CA$80.07 million, is focused on developing immunotherapies. Despite being unprofitable with increasing losses over the past five years, the company maintains a strong financial position with short-term assets significantly exceeding both its short and long-term liabilities. The management team is seasoned with an average tenure of 11.1 years, and there has been no significant shareholder dilution recently. Although not expected to achieve profitability in the near term, Medicenna’s revenue is forecast to grow substantially at 65.07% annually according to consensus estimates.

• Click to explore a detailed breakdown of our findings in Medicenna Therapeutics’ financial health report.

• Learn about Medicenna Therapeutics’ future growth trajectory here.

Simply Wall St Financial Health Rating: ★★★★☆☆