Today’s pharmaceutical stocks are facing the challenges of government-imposed drug price caps, waning demand for COVID-19 vaccines and global stock market upheaval. However, the industry’s major underlying drivers — higher rates of cancer and chronic disease — are still at play and not expected to dissipate.
The US reigns supreme in the pharma market, both in terms of drug demand and development. In 2024, 50 novel medicines were approved by the US Food and Drug Administration (FDA), compared to 55 such approvals in 2023. Last year’s FDA approvals include Eli Lilly and Company’s (NYSE:LLY) Alzheimer’s disease treatment Kisunla.
Big pharma largely steals the show, but some small- and mid-cap NASDAQ pharma stocks have also made gains.
Below the Investing News Network profiles the top five small-cap pharma stocks on the NASDAQ by year-to-date share price performance. Data was compiled on August 5, 2025, using TradingView’s stock screener, and pharma companies with market caps between US$50 million and US$500 million at that time were considered.
Read on to learn more about their activities this year.
1. ABVC BioPharma (NASDAQ:ABVC)
Year-to-date gain: 405.95 percent
Market cap: US$50.61 million
Share price: US$2.98
ABVC BioPharma is a clinical-stage biopharma building a pipeline of products targeting a broad range of indications in ophthalmology, oncology, hematology and central nervous system (CNS) disorders.
It is advancing on six drugs and one medical device. ABVC in-licenses biotechnologies from research institutions such as Stanford University, University of California at San Francisco, and Cedars-Sinai Medical Center.
In mid-April, ABVC reported its 2024 financials, highlighting total revenues of US$509,589 in 2024, representing 234 percent growth. The company attributed this increase to milestone payments collected from its global licensing partners in the CNS, oncology, and ophthalmology therapeutic areas.
The positive news provided a good base of support for ABVC’s share price, which had started the year out at US$0.64 and by the end of April had pushed through the US$1.00 level.
Developments later in the summer gave the stock a further boost to the upside. On June 6, ABVC announced that its affiliate OncoX BioPharma is set to acquire the Lycopenoid Lycogen platform, including patented manufacturing technology and commercialization rights, from Asia-Pacific Biotech Developing.
“OncoX’s acquisition of the Lycogen(R) platform further enhances ABVC Group’s position in botanical oncology innovation,” said ABVC CEO Dr. Uttam Patil in a press release at the time. “This transaction strengthens our pipeline and demonstrates our ability to convert platform assets into monetizable growth.”
In July, ABVC received a $150,000 cash licensing payment from AiBtl BioPharma, one of its key strategic partners. It represents a key milestone toward the company commercializing its drug candidates ABV-1504 and ABV-1505, which are now under late-stage development for major depressive disorder and ADHD, respectively. Each of these drug candidates hold active Investigational New Drug designations from the FDA.
That same month, the company received a US$100,000 milestone licensing payment from its licensing partner ForSeeCon Eye Corporation which is working to develop and commercialize drugs for ophthalmic indications. This brought its cumulative licensing revenue across its strategic partnerships with AiBtl, OncoX, and ForSeeCon to US$946,000.
Shares of ABVC reached a year-to-date high of US$4.74 on July 8.
Year-to-date gain: 282.35 percent
Market cap: US$231.3 million
Share price: US$3.37
I-Mab is a global biotech firm developing precision immuno-oncology agents for the treatment of cancer.
The company’s lead candidate in its drug pipeline is givastomig, a bispecific antibody designed to treat Claudin 18.2-positive gastric cancers. Givastomig has the potential to treat other solid tumors.
I-Mab traded below US$1 for much of the year before getting a boost in Q3 from positive news flow.
On June 26, the company announced positive data from a Phase 1b study evaluating givastomig in combination with nivolumab and mFOLFOX6 chemotherapy for metastatic gastric cancers. This included a strong objective response rate and favorable safety profile. A few days later, it shared the publication of the first-in-human monotherapy data for givastomig in Clinical Cancer Research, a journal of the American Association for Cancer Research.
On July 17, I-Mab reported that it had signed a definitive agreement to acquire 100 percent ownership of Bridge Health Biotech Co., Ltd. This will give I-Mab the rights to bispecific and multi-specific applications based on the Claudin 18.2 parental antibody used in its lead drug candidate givastomig.
I-Mab expects to present a topline readout of its Phase 1b dose expansion in Q1 2026.
Shares of I-Mab hit a year-to-date high of US$3.37 on August 5.
3. Galectin Therapeutics (NASDAQ:GALT)
Year-to-date gain: 180.92 percent
Market cap: US$232.91 million
Share price: US$3.68
Galectin Therapeutics is developing therapies for patients with chronic liver disease and cancer.
The a clinical-stage biopharma company’s lead drug candidate, carbohydrate-based belapectin, targets multiple inflammatory, fibrotic, and malignant diseases by inhibiting the galectin-3 protein.
Belapectin has been granted Fast Track designation by FDA. Galectin’s lead development program, the NAVIGATE Phase 2b/3 trial, is evaluating the efficacy and safety of using belapectin intravenously in patients with metabolic dysfunction-associated steatohepatitis (MASH) cirrhosis and portal hyper tension.
In May, the company presented positive topline data from the study at the European Association for the Study of the Liver 2025 Congress. Results included a significant reduction in new esophageal varices at 18 months and fewer patients experiencing worsening liver stiffness, demonstrating potential to halt the progression of MASH cirrhosis.
In early July, Galectin announced a new US$10 million unsecured line of credit facility with its largest individual stockholder and board chair, Richard E. Uihlein. It is expected to fund development work through June 2026.
Galection’s share price peaked at US$3.68 on August 5.
4. CytomX Therapeutics (NASDAQ:CTMX)
Year-to-date gain: 136.63 percent
Market cap: US$375.74 million
Share price: US$2.38
CytomX Therapeutics is a clinical-stage biopharma firm with a focus on developing safer, more effective oncology treatments. It collaborates with a number of leading oncology firms, including Amgen (NASDAQ:AMGN), Bristol-Myers Squibb (NYSE:BMY), Regeneron Pharmaceuticals (NASDAQ:REGN) and Moderna (NASDAQ:MRNA).
The company’s pipeline is based on its PROBODY therapeutic platform, which it uses to produce localized biologics that target tumors. This includes multiple treatment modalities such as antibody-drug conjugates, T-cell engagers and immune modulators such as cytokines. Its clinical-stage pipeline includes CX-2051 and CX-801.
CytomX kicked off 2025 at US$1.06, but spent much of the first two quarters on a slow slide to a year-to-date low of US$0.43 on April 7. The stock shot up to US$2.50 on May 13 after a series of announcements.
The day prior, CytomX provided its first quarter business update, which includes positive interim clinical results for an ongoing Phase 1 dose escalation study of its lead candidate, CX-2051, in advanced colorectal cancer.
The company has initiated further Phase 1 dose expansions, with data expected out by Q1 2026. CyrtomX’s goal is to initiate a Phase 2 study in advanced CRC in the first half of 2026.
At the same time, the company closed on a US$100 million underwritten offering of common stock.
On May 19, the first patient was dosed in CytomX’s ongoing Phase 1 dose escalation study with CX-801 in combination with Merck & Company’s (NYSE:MRK) KEYTRUDA (pembrolizumab) in patients with metastatic melanoma.
Shares of CytomX hit a year-to-date high of US$2.99 on June 12.
Year-to-date gain: 129.21 percent
Market cap: US$475.20 million
Share price: US$2.16
Gossamer Bio is focused on the development and commercialization therapies to treat pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease.
The clinical-stage biopharma company’s lead drug candidate, seralutinib, is currently being evaluated in a Phase 3 clinical trial for the treatment of pulmonary arterial hypertension.
Gossamer Bio’s stock value received a bump from US$1.30 to US$1.45 on March 14. The day prior, the company had shared a business update, including news that a topline data readout for its Phase 3 study of seralutinib in pulmonary arterial hypertension is on track for Q4 2025. Registration for its Phase 3 in pulmonary hypertension associated with interstitial lung disease is expected to start in H2 2025.
On June 16, Gossamer Bio announced it had completed enrollment ongoing Phase 3 Study in pulmonary arterial hypertension with topline data expected out in February of 2026.
On August 5, the company reported that it expects to activate the first clinical sites for the global, registrational Phase 3 study in pulmonary hypertension associated with interstitial lung disease patients in Q4 2025.
Shares of Gossamer Bio hit a year-to-date high of US2.16 on August 5.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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