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Oncology Stocks: 8 Biggest NASDAQ Companies in 2024



The wide-ranging oncology market covers every area of cancer care, from diagnosis to treatment.

Coming in only after cardiovascular disease, cancer is the second leading cause of death worldwide; unsurprisingly, oncology is one of the biggest sectors in the life science space. With that in mind, biotechnology and pharmaceutical companies alike are working to develop best-in-class therapeutics for the treatment of various cancers, including lung, breast and prostate cancer.

At this point, their work is far from finished — Fortune Business Insights projects that the global oncology market will increase at a compound annual growth rate of 11.3 percent to reach US$518.25 billion in 2032.


As the global oncology market grows, investors who want exposure to companies working to treat cancer should consider taking a look at biotech and pharma companies with a focus on oncology drugs and testing.

This list of the biggest oncology stocks on the NASDAQ was generated using TradingViews's stock screener. The companies are listed in order of market cap, and all figures below were current as of June 19, 2024.

1. AstraZeneca (NASDAQ:AZN)


Market cap: US$244.56 billion; current share price: US$78.42

First on this list of the top NASDAQ oncology companies by market cap is multinational pharma and biotech firm AstraZeneca, which also specializes in several other therapeutic areas, including cardiovascular, respiratory, central nervous system and pain control. The company is aiming to strengthen its position in the oncology market by more than doubling its cancer drug offerings by 2030.

AstraZeneca has several partnerships with other pharma companies, including Merck (NYSE:MRK). The pair brought PARP-inhibitor LYNPARZA to market as a monotherapy and in combination to address multiple cancer types, including in certain breast, prostate, pancreatic and ovarian tumors. The drug’s revenues for these indications are expected to reach US$4 billion by 2027, representing more than 68 percent of the projected global PARP inhibitors market for that year.

2. Amgen (NASDAQ:AMGN)


Market cap: US$164.14 billion; current share price: US$305.99

One of the world's leading independent biotechnology companies, Amgen uses advanced human genetics to develop and manufacture therapeutics targeting oncological diseases, including a range of solid tumors and hematologic malignancies.

Amgen is advancing a robust pipeline with several mid- to late-stage candidates, including drug candidates targeting leukemia, colorectal cancer and solid tumors. Amgen's oncology portfolio includes first-in-class Bispecific T-cell Engager (BiTE) therapy Blincyto, which in June received US Food and Drug Administration (FDA) approval for the treatment of adult and pediatric patients with Philadelphia chromosome-negative B-cell precursor acute lymphoblastic leukemia in the consolidation phase.

This is the second BiTE therapy from Amgen to gain FDA approval. The company's Imdelltra (tarlatamab) got the nod in May for treating adult patients with extensive-stage small cell lung cancer with disease progression on or after platinum-based chemotherapy.

3. Sanofi (NASDAQ:SNY)


Market cap: US$119.61 billion; current share price: US$47.22

Based in France, Sanofi is developing new technologies based on molecular oncology, immuno-oncology and genomic medicine platforms targeting some of the most difficult-to-treat cancers. The company's oncology strategy encompasses four disease areas: blood cancers, including multiple myeloma; skin cancers; lung cancers; and breast cancer and other hormone-positive cancers.

Sanofi's oncology pipeline includes 13 drug candidates in clinical development, with a focus on solid tumors, leukemia, and myeloma. In June, the company shared positive data from its Phase 3 IMROZ regimen study of Sarclisa (isatuximab) in combination with standard-of-care bortezomib, lenalidomide and dexamethasone (VRd) followed by Sarclisa-Rd. The results demonstrated a significant reduction in the risk of disease progression or death by 40 percent when compared to VRd followed by Rd alone.

4. Regeneron Pharmaceuticals (NASDAQ:REGN)


Market cap: US$114.48 billion; current share price: US$1,039.11

Biotech leader Regeneron Pharmaceuticals develops and commercializes medicines targeting cancer, pain and a wide variety of diseases, including inflammatory, cardiovascular, metabolic, hematologic and rare diseases.

The company’s drug candidate portfolio includes 18 clinical-stage programs targeting various cancers, including solid tumors, prostate cancer, cervical cancer and metastatic melanoma. Its 12 FDA approved drugs include Libtayo (cemiplimab-rwlc) for cutaneous squamous cell carcinoma, basal cell carcinoma and non-small cell lung cancer.

In an effort to expand its cell therapy research, Regeneron acquired biotech 2Seventy Bio’s (NASDAQ:TSVT) cancer drug pipeline earlier this year.

“Our expertise in antibody technologies and emerging genetics capabilities, combined with 2seventy’s cell therapy platforms, presents a significant opportunity to address cancer and other serious diseases in new and impactful ways,” said George Yancopoulos, Regeneron’s chief scientific officer, in a statement.

5. Gilead Sciences (NASDAQ:GILD)


Market cap: US$78.68 billion; current share price: US$63.15

Global biopharmaceutical company Gilead Sciences is in the business of developing breakthrough medicines to prevent and treat serious conditions such as HIV, viral hepatitis and cancer. Last year, the company built up its early oncology pipeline with the acquisition of biotech firm XinThera and its portfolio of small molecule inhibitors targeting PARP1.

One of Gilead's biggest successes is Yescarta, a CAR-T cell therapy for blood cancer and the first such therapy for certain types of non-Hodgkin's lymphoma. Earlier this year, Reuters reported that improvements in its manufacturing process will allow the company "to quadruple production of its cell therapy cancer treatments by 2026."

6. Moderna (NASDAQ:MRNA)


Market cap: US$51.05 billion; current share price: US$133.27

Moderna is a leader in applied mRNA science with a diverse clinical portfolio of vaccines and therapeutics. Its mRNA platform harnesses the body's immune system to identify and kill cancer cells, including individualized mRNA-based personalized cancer vaccines.

In June, Moderna and Merck released positive three-year data from a clinical study evaluating the use of an experimental vaccine in combination with Merck's FDA-approved Keytruda in the treatment of melanoma, the most deadly form of skin cancer. The data showed improved survival rates and long-lasting efficacy.

7. BioNTech (NASDAQ:BNTX)


Market cap: US$20.51 billion; current share price: US$86.27

Biopharma BioNTech is advancing immunotherapies for serious diseases, including various forms of cancer. The company’s oncology portfolio includes mRNA-based therapies, CAR-T cell therapies and targeted cancer antibodies.

BioNTech has a collaboration deal with China-based biotech company Duality Biologics to develop, manufacture and license multiple antibody-drug conjugate candidates targeting solid tumors. Early this year, the FDA granted fast track designation for one of them, the candidate BNT325/DB-1305 for the treatment of platinum-resistant ovarian epithelial cancer, fallopian tube cancer or primary peritoneal cancer in patients who have previously received one to three systemic treatment regimens.

However, in mid-June the FDA placed a partial hold on the Phase 1 trial for the candidate after BioNTech disclosed the deaths of three patients due to “treatment-related adverse effects.” The partial hold prevents the enrollment of any new US patients in the study.

“The fact that patients already enrolled in the Phase I BNT326/YL202 study will continue to receive the drug suggested that the FDA’s concerns were manageable,” commented John Newman, PhD, a senior biotechnology analyst with Canaccord Genuity.

8. Illumina (NASDAQ:ILMN)


Market cap: US$17.22 billion; current share price: US$108.10

Illumina develops, manufactures and markets life science tools and integrated systems that enable the implementation of genomic solutions for the healthcare sector with a focus on oncology testing, genetic disease testing, reproductive health and research. The company is expanding its next-generation sequencing oncology portfolio to help clinical cancer researchers estimate tumor mutational burden, identify neoantigens and study innovative therapies to boost the immune response.

In January, Illumina announced an expansion of its collaboration with Janssen Research & Development for the development of the latter's novel molecular residual disease assay. The assay is based on using whole-genome sequencing for multi-cancer research for the detection of circulating tumor DNA. The purpose is to better understand how oncological diseases can persist reoccur following treatment, and it will look at samples "from patients previously diagnosed with cancer across multiple solid tumor indications," according to the release.

This is an updated version of an article first published by the Investing News Network in 2018.

Don’t forget to follow us @INN_LifeScience for real-time updates!

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.



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