It seems you can indeed do that. Here is a video of someone 'shucking' another Toshiba Canvio.
However, in the comments, someone posted:
NOTE: The latest releases of the Canvio 2.5" series are PROPRIETARY
DRIVES. The drives themselves no longer have a separate USB 2/3
controller: It's incorporated onto the HD's controller board
DIRECTLY.
Make sure that the PHYSICAL SIZE of the external housing is at least
3/4" longer than the usual 2.5" hard drive BEFORE buying it,
otherwise, you'll be stuck with a "permanent external-ONLY drive."
This is why few technically oriented people buy WD 2.5" externals any
more...they're ALL designed with the USB controller as a part of the
HD controller board.
All things considered, you should really consider using an SSD to install your programs, if at all possible. It makes your computer a lot faster.