San Diego – – October 14, 2026 -- Global spending on cancer medicines reached $252 billion in 2024 and is forecast to exceed $400 billion by 2028, according to the IQVIA Institute, with the United States accounting for roughly 46% of the total.
About 150 new active substances entered the U.S. oncology market between 2015 and 2024, and launch activity in 2020 to 2024 ran nearly 40% ahead of the prior five years.
FDA approves first broad RAS-targeted drug for metastatic pancreatic cancer
On August 26, the FDA approved Revolution Medicines' RASONQUE (daraxonrasib), a once-daily oral tablet, for adults with metastatic pancreatic cancer who have received at least one prior systemic therapy or cannot receive multiagent therapy. In the Phase 3 RASolute 302 trial, median overall survival was 13.2 months with daraxonrasib versus 6.7 months with chemotherapy. The company expects to share updated colorectal cancer data and strategy in the fourth quarter of 2026.
Regulators clear further indications and Phase 3 trials read out positive
In the first two weeks of October, regulators approved a new first-line use for a blood cancer therapy, a first-line maintenance treatment for HER2-positive metastatic breast cancer and a checkpoint inhibitor combination for stage III mismatch repair-deficient colon cancer.
Eli Lilly announced on October 2 that the FDA approved Jaypirca (pirtobrutinib) for previously untreated chronic lymphocytic leukemia or small lymphocytic lymphoma without a known 17p deletion. In the BRUIN CLL-313 trial, the drug reduced the risk of progression or death by 80% versus bendamustine plus rituximab, with an overall response rate of 94% versus 81%.
Genmab and AbbVie reported on October 5 that the Phase 3 EPCORE DLBCL-2 trial of epcoritamab plus R-CHOP met its primary endpoint in newly diagnosed diffuse large B-cell lymphoma. The combination cut the risk of progression or death by 51% versus R-CHOP alone. The companies plan to present the data at a future medical meeting and to engage global regulators.
Microsatellite-stable colorectal tumors remain the harder target
RAS mutations drive many pancreatic and colorectal tumors that were long considered nearly impossible to drug. Most metastatic colorectal cases are microsatellite stable, a form that has generally responded poorly to checkpoint inhibitors. Developers are pursuing targeted RAS inhibitors, new combinations and therapies designed to make tumors more visible to the immune system.
Oncolytics reports accelerating enrollment in its RAS-mutant colorectal study
On September 28, Oncolytics Biotech reported faster enrollment in REO 033, a randomized second-line study in RAS-mutant, microsatellite-stable metastatic colorectal cancer. The trial compares pelareorep plus FOLFIRI and bevacizumab with FOLFIRI and bevacizumab alone. Part A is expected to randomize about 60 patients, with objective response rate as the primary endpoint.
The study builds on the smaller, non-randomized REO 022 trial, where the same combination produced a 33% objective response rate, median progression-free survival of 16.6 months and median overall survival of 27.0 months. Oncolytics said it aligned with the FDA on the concept of a potential pivotal Part B expansion, with an accelerated approval path based on response rate and progression-free survival. Pelareorep holds FDA Fast Track designation in colorectal, anal and pancreatic cancer and has been administered to more than 1,200 patients.
Chief Operating Officer John McAdory said the company expects to report interim Part A data by year-end. In September, Oncolytics also reported preclinical results pairing pelareorep with a pan-RAS inhibitor in a RAS-driven colorectal model, which showed no evidence of antagonism.
Exelixis faces a three-month FDA delay on its colorectal filing
The FDA extended its review of Exelixis' zanzalintinib plus atezolizumab for metastatic colorectal cancer by three months after the company submitted updated safety and efficacy information, which the agency classed as a major amendment. The new target action date is March 3, 2027.
ESMO Congress in Madrid opens October 23 as next data venue
The European Society for Medical Oncology holds its 2026 Congress in Madrid from October 23 to 27. Two of the companies covered have pointed to colorectal cancer updates before year-end. Clinical results are as reported by each company and are not directly comparable across studies.