VANCOUVER, BC, Feb. 25, 2026 — Equity Insider News Commentary, The immuno-oncology market is forecast to grow from $65.22 billion in 2025 to $170.19 billion by 2032, fueled by checkpoint inhibitors, CAR-T cell therapy, and cancer vaccines[1]. Five companies positioned at the forefront of this expansion include Oncolytics Biotech (NASDAQ:ONCY), ImmunityBio (NASDAQ:IBRX), CRISPR Therapeutics (NASDAQ:CRSP), BioNTech (NASDAQ:BNTX), and Novocure (NASDAQ:NVCR).
The broader oncology market is projected to nearly triple from $279.98 billion to $748.17 billion by 2035, with North America commanding a 43% market share[2]. Targeted therapy remains the fastest-growing segment within the $335.2 billion cancer drugs market projected for 2033, as personalized medicine reshapes treatment paradigms[3].
Oncolytics Biotech Inc. (NASDAQ: ONCY) recently announced its decision to focus on registrational programs in anal and colorectal cancer, concluding enrollment in the GOBLET gastrointestinal study after generating sufficient clinical and translational data to chart a clear path toward FDA approval.
The promising efficacy signal in GOBLET Cohort 4 has defined a clear registrational path for pelareorep in second-line and later squamous cell anal cancer, a setting where available therapies offer only limited benefit to patients. Oncolytics expects to meet with the FDA in mid-April to align on study design, and believes a clinical trial of well under 100 subjects will be sufficient to secure approval in this rare cancer indication.
With sufficient cash on hand to execute near-term milestones, the company expects to avoid immediate material dilution, redirecting capital from the GOBLET cohorts toward its highest-conviction registration programs.
“GOBLET has done its job successfully. We now know where pelareorep can make the greatest impact for patients and where we can pursue approval most efficiently,” said Jared Kelly, CEO of Oncolytics Biotech. “Our disciplined strategy is to run registrational or registration-enabling studies with ruthless efficiency that can create maximum shareholder value without unnecessary dilution.”
The registration push builds on pelareorep’s recent Fast Track Designation from the FDA for second-line KRAS-mutant microsatellite-stable (MSS) metastatic colorectal cancer. Clinical data showed pelareorep combined with standard chemotherapy and Avastin® achieved a 33% response rate versus roughly 10% with chemotherapy and Avastin®, while median overall survival reached 27 months versus 11.2 months with standard treatment.
KRAS-mutant MSS colorectal cancer represents one of the hardest-to-treat populations, with limited options after first-line treatment fails. The global market for second-line treatment in this patient group runs between $3 billion and $5 billion annually. The company plans to launch a controlled study with the first clinical site activating in March and interim data expected by year-end 2026.
Pelareorep is also delivering strong results in anal cancer, where third-line patients achieved a 29% response rate with the median duration of response lasting around 17 months in a setting with no FDA-approved treatments. In second-line or later patients, the 30% response rate more than doubled the benchmark for the FDA-approved immunotherapy.
The company continues strengthening its leadership, having recently appointed John McAdory as EVP of Strategy and Operations and Yujun Wu as Head of Biostatistics. Kelly and Chief Business Officer Andrew Aromando both joined from Ambrx Biopharma, which sold to Johnson & Johnson for $2 billion in 2024.
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In other industry developments:
ImmunityBio (NASDAQ: IBRX) recently announced a partnership with Accord Healthcare to expand European access to ANKTIVA for bladder cancer patients across 33 countries. ANKTIVA achieved a 71% complete response rate in BCG-unresponsive non-muscle invasive bladder cancer, with approvals spanning the U.S., EU, UK, and Saudi Arabia.
“Our partnership with Accord marks a significant step in our European growth strategy and our mission to redefine cancer care,” said Richard Adcock, President and CEO of ImmunityBio.
The company continues to advance its IL-15 receptor agonist platform.
CRISPR Therapeutics (NASDAQ: CRSP) provided a business update reporting encouraging clinical data from its allogeneic CAR-T candidate, zugocabtagene geleucel (zugo-cel), in both autoimmune disease and oncology indications. CASGEVY generated $116 million in full-year 2025 revenue, with patient initiations increasing nearly three-fold year-over-year.
“We made meaningful advances across multiple clinical and preclinical programs, including encouraging data from zugo-cel in autoimmune disease and oncology, continued global uptake of CASGEVY, and important developments across our in vivo liver editing portfolio,” said Samarth Kulkarni, Ph.D., Chairman and CEO of CRISPR Therapeutics.
The company is building a differentiated oncology platform with its allogeneic CAR-T approach, which could enable off-the-shelf cancer therapies without patient-specific manufacturing.
BioNTech (NASDAQ: BNTX) outlined its 2026 strategy at the J.P. Morgan Healthcare Conference, detailing plans to initiate six additional Phase 3 clinical trials this year. The company now has more than 25 ongoing Phase 2 or 3 oncology trials spanning immunomodulators, antibody-drug conjugates, and mRNA cancer immunotherapies.
“We see 2026 as a year when science translates into tangible results,” said Prof. Ugur Sahin, M.D., CEO and Co-Founder of BioNTech.
The company held approximately 17.2 billion euros in cash as of December 2025, positioning it to fund at least 17 late-stage data readouts expected by 2030.
Novocure (NASDAQ: NVCR) received FDA approval for its Optune Pax system in locally advanced pancreatic cancer, the first new treatment approved for this indication in approximately 30 years. The Phase 3 PANOVA-3 trial demonstrated a statistically significant improvement in overall survival.
“Systemic therapies have shown poor bioavailability in pancreatic tumors, limiting their effectiveness. Optune Pax is a fundamentally different treatment, utilizing a biophysical approach that targets the unique electrical properties of cancer cells,” said Frank Leonard, CEO, Novocure.
The Tumor Treating Fields platform is also approved in certain countries for glioblastoma and malignant pleural mesothelioma, with additional pipeline candidates in development.
Article Source: https://equity-insider.com/2025/03/18/is-oncolytics-biotech-the-markets-most-undervalued-cancer-opportunity/
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SOURCES:
- https://www.openpr.com/news/4395526/immuno-oncology-market-set-for-remarkable-expansion-as
- https://www.pharmiweb.com/press-release/2026-02-19/oncology-market-value-to-more-than-double-reaching-usd-74817-billion-by-2035
- https://www.prnewswire.com/news-releases/oncologycancer-drugs-market-to-reach-335-2-billion-by-2033-globally-at-7-2-cagr-allied-market-research-302683974.html
