OncologyKnife fightData as of 2026-09-04
Breast Cancer is one of the more crowded fields on the map: 10 companies in the clinic, ranking it 7th of 299 indications by competitor count. The median competitor is worth $288M, below the $1.20B median of the universe.
That gap is the crowding discount. When a field is deep the market pays less per company, because the same eventual revenue has to be split across more shots on goal.
JAZZ alone accounts for 81% of the $19.8B of market capitalisation competing here, so this is a leader plus a tail rather than a level race.
$2.7B of allocated capital sits in Breast Cancer, 77th of 299 indications, and 2 of the 10 companies are pure plays that trade on this indication alone.
| Ticker | Company | Lead asset | Phase | Trials | Market cap | Pure play | Indications | Next catalyst |
|---|---|---|---|---|---|---|---|---|
| OLMA | Olema Pharmaceuticals | Palazestrant | Phase 3 | 6 | $939M | No | 2 | 31 Dec 2026 |
| GLSI | Greenwich LifeSciences | GLSI-100 | Phase 3 | 1 | $229M | Yes | 1 | No dated event |
| JAZZ | Jazz Pharmaceuticals | Zanidatamab | Phase 2 | 1 | $16.1B | No | 14 | 30 Sep 2026 |
| DSGN | Design Therapeutics | Raloxifene- Usual | Phase 2 | 2 | $941M | No | 6 | 31 Dec 2026 |
| PBYI | Puma Biotechnology | Alisertib | Phase 2 | 2 | $486M | No | 3 | No dated event |
| ALXO | ALX Oncology Holdings | Evorpacept | Phase 2 | 2 | $281M | No | 4 | 31 Dec 2026 |
| BCYC | Bicycle Therapeutics | Zelenectide pevedotin | Phase 2 | 1 | $214M | No | 4 | 31 Dec 2026 |
| ONCY | Oncolytics Biotech | Pelareorep | Phase 2 | 1 | $102M | No | 2 | 31 Dec 2026 |
| ZNTL | Zentalis Pharmaceuticals | Azenosertib | Phase 1 | 1 | $295M | No | 3 | 23 Oct 2026 |
| NERV | Minerva Neurosciences | huMNC2-CAR44 CAR T cells or huMNC2-CAR22 CAR T cells | Phase 1 | 2 | $224M | Yes | 1 | 31 Dec 2027 |
Sorted by phase, then by market capitalisation. Ticker links open the company profile. JAZZ holds 81% of the $19.8B competing in this indication.
Crowded and cheaply priced. Six or more competitors and a median company below the universe median.
Oncology holds $187B of the map's capital, 27.8% of the total, spread across 119 indications and 103 companies. 34 of those indications have more than one company competing.
See every Oncology indication on the map10 US-listed companies in the $100M to $20B market cap band run clinical programmes in Breast Cancer. The largest and most advanced are Olema Pharmaceuticals (OLMA, Palazestrant, Phase 3); Greenwich LifeSciences (GLSI, GLSI-100, Phase 3); Jazz Pharmaceuticals (JAZZ, Zanidatamab, Phase 2); Design Therapeutics (DSGN, Raloxifene- Usual, Phase 2); Puma Biotechnology (PBYI, Alisertib, Phase 2). The full list of 10 is in the table on this page.
Of the 10 clinical-stage programmes in Breast Cancer, 2 are in Phase 3 or filed, 6 are in mid-stage development and 2 are in early-stage development.
JAZZ is the largest developer in Breast Cancer, holding 81% of the $19.8B of market capitalisation competing in the indication. The median competitor is worth $288M.
The next dated catalyst in Breast Cancer is JAZZ on 30 Sep 2026. 7 dated events across the field fall in the next 12 months.
Allocated capital divides each company’s market capitalisation evenly across the indications it is running clinical programmes in, so every dollar of the universe is counted exactly once. Total market capitalisation competing counts a company in each of its indications and therefore sums to more than the universe.
Third-party market size estimates are not used anywhere on this page. Approved incumbents are excluded from competitor counts, and companies above $20B are outside the universe by construction.
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