Best 3 ASX biotech stocks

These three ASX biotech shares are growing, showing steady clinical progress, expanding trials and advancing key drug development programs.

PYC Therapeutics Limited (ASX: PYC) 

on 22 May 2026, presented its Q2 investor update focusing on near term human proof of concept readouts across its pipeline. It highlighted need to concentrate resources on a few selected programs rather than spreading efforts too widely. The company also noted its PMS program is moving towards clinical stage entry.

On 7 May 2026, the company reported progress in its polycystic kidney disease program using PYC-003. A Phase 1b multiple ascending dose study in patients began, and the first patient received dosing. The study is designed to assess safety and tolerability in repeat dosing and also measure urinary PC1 protein levels, total kidney volume by MRI, and estimated glomerular filtration rate.

The ongoing Phase 1a single ascending dose data in PKD patients is expected in H2 CY26. Results from the Phase 1b study are planned for CY27. After completion and regulatory alignment, the program may advance toward a combined Phase 2/3 registrational trial supporting a New Drug Application for PYC-003.

Argenica Therapeutics Limited (ASX: AGN)

on 21 May 2026, shared progress on its IND application after completing a required genotoxicity study. The company said a GLP mouse lymphoma assay for ARG-007 showed no gene mutation or chromosomal damage and addressing the FDA request after an earlier Ames test was found insufficient. It also confirmed two of three FDA requested studies are now finished including a previously reported tenecteplase assay whereas the final GLP hERG cardiac safety test is still underway.

The update stated that once all studies are completed, Argenica will submit its full response with an updated Phase 2b protocol to the FDA to lift the clinical hold and move forward with the U.S. stroke trial plan. Manufacturing work for ARG-007 is also progressing with a European partner to support later-stage development.

In its quarterly report, Argenica Therapeutics Ltd outlined preparations for a Phase 2b stroke trial using targeted patient selection and AI tools. It also reported acceptance of abstracts at the ESOC conference and progress on an EMA request for a paediatric waiver. AGN ended the period with the cash reserves of $8.0M as of 31 March 2026.

Prescient Therapeutics Limited (ASX: PTX)

on 30 April 2026, shared its March 2026 quarterly update. It informed continued growth in Phase 2a enrolment for PTX-100 along with expansion of clinical trial sites globally. New results from a CSIRO collaboration provided better insight into how PTX-100 works at a molecular level. Cash and term deposits were stated at $11.93 million as of 31 March 2026.

During the quarter, the Phase 2a trial expanded to 11 active sites, later increasing to 12 after another site opened in Italy. A total of 12 patients were enrolled by quarter end, rising to 18 by 24 April 2026 across the United States, Australia and Italy. The study is planned for up to 40 patients. The Phase 1b trial has been completed, with one patient continuing treatment under compassionate access due to long-term benefit.

The AI-based modelling showing strong PTX-100 target binding. Work continues on additional clinical opportunities and partnership discussions for OmniCAR and CellPryme programs.

(Source: Company Report)