November’s wave of FDA oncology approvals is underscoring a major shift in the cancer drug industry: precision platform-based therapies are taking center stage, leaving broad-spectrum approaches in the dust.

“The global anticancer drug market now values immunotherapies at over 45% of total cancer drug revenues, reflecting investor confidence in technologies that engineer specific biological outcomes,” analysts note.

Companies leveraging proprietary platforms to target previously undruggable proteins are seeing premium valuations as the sector pivots toward modularity and rapid reuse of validated mechanisms. This momentum is boosting firms including GT Biopharma, Erasca, Foghorn Therapeutics, OmniAb, and Recursion Pharmaceuticals.

The U.S. oncology market is projected to soar from $81 billion in 2025 to $212 billion by 2034, with monoclonal antibodies and cell therapies driving double-digit growth. “Platform technologies now account for 60% of total pharma projected pipeline value, creating optimal conditions for companies with validated platforms to capture multiple therapeutic opportunities while reducing development timelines,” the report adds.