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7 min read Oncology

Therapeutic Thursday: The Deals Are Outrunning the Data in Oncology's Next Wave

Two qualify as first-in-class among 2032's ten biggest oncology bets. So why is big pharma paying nine figures for assets that haven't read out?

Therapeutic Thursday: The Deals Are Outrunning the Data in Oncology's Next Wave
Photo by National Cancer Institute / Unsplash

Every oncology pitch deck this spring leads with first-in-class. The money says otherwise. Of the ten largest unapproved oncology opportunities forecast through 2032, only two qualify as genuinely first-in-class, and both are just direct shots at mutant KRAS.