Recent Updates
Recently added Catalysts

Cutaneous Squamous Cell Carcinoma: two biotech companies racing to a treatment

OncologyConcentrated betData as of 2026-09-04

Competitors2in the clinic
Median market cap$2.6Buniverse median $1.20B
Allocated capital$978M$5.2B competing
Phase 3 or filed02 mid, 0 early
Pure plays0this indication only
Capital rank154/299crowding rank 92

Cutaneous Squamous Cell Carcinoma is a two-horse race: Iovance Biotherapeutics (IOVA, $3.9B) against Replimune Group (REPL, $1.3B).

A duopoly prices differently from an empty field. Each company is the other's comparable, so a readout from either side repositions both, and $978M of allocated capital sits on the pair.

IOVA alone accounts for 75% of the $5.2B of market capitalisation competing here, so this is a leader plus a tail rather than a level race.

$978M of allocated capital sits in Cutaneous Squamous Cell Carcinoma, ranking it 154th of 299 indications by the money committed to it.

Companies developing drugs for Cutaneous Squamous Cell Carcinoma 2

TickerCompanyLead assetPhaseTrialsMarket capPure playIndicationsNext catalyst
IOVAIovance BiotherapeuticsLN-145/LN-144Phase 21$3.9BNo6 23 Oct 2026
REPLReplimune GroupRP1, intra-tumoral, oncolytic virusPhase 21$1.3BNo4 31 Dec 2030

Sorted by phase, then by market capitalisation. Ticker links open the company profile. IOVA holds 75% of the $5.2B competing in this indication.

Why Cutaneous Squamous Cell Carcinoma is a concentrated bet

Few competitors, each one large. The market pays a scarcity premium to compete here.

The map splits indications on two folds: six or more competitors counts as crowded, and a median company above $1.20B counts as richly priced. Cutaneous Squamous Cell Carcinoma has 2 competitors and a median of $2.6B.

Oncology

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 map

Related indications in Oncology

Advanced Solid Tumors With FGFR1 Amplification1 company · $967M · median $1.9BUncontestedEndometrial Cancer2 companies · $921M · median $2.1BConcentrated betCervical Cancer1 company · $848M · median $2.5BUncontestedDiffuse Large B-Cell Lymphoma3 companies · $834M · median $351MOrphan cornerSmall Cell Lung Cancer Extensive Stage1 company · $1.1B · median $16.1BUncontestedHER2 Positive Metastatic Breast Cancer1 company · $1.1B · median $16.1BUncontestedGastroesophageal Junction Adenocarcinoma1 company · $1.1B · median $16.1BUncontestedCNS Lymphoma1 company · $1.1B · median $16.1BUncontested

Cutaneous Squamous Cell Carcinoma pipeline questions

Which biotech companies are developing drugs for Cutaneous Squamous Cell Carcinoma?

Iovance Biotherapeutics (IOVA, LN-145/LN-144, Phase 2); Replimune Group (REPL, RP1, intra-tumoral, oncolytic virus, Phase 2). Those are the 2 US-listed developers in the $100M to $20B market cap band with a clinical-stage programme in Cutaneous Squamous Cell Carcinoma.

How advanced is the Cutaneous Squamous Cell Carcinoma pipeline?

Of the 2 clinical-stage programmes in Cutaneous Squamous Cell Carcinoma, 0 are in Phase 3 or filed, 2 are in mid-stage development and 0 are in early-stage development.

Which company leads the Cutaneous Squamous Cell Carcinoma field?

IOVA is the largest developer in Cutaneous Squamous Cell Carcinoma, holding 75% of the $5.2B of market capitalisation competing in the indication. The median competitor is worth $2.6B.

When is the next Cutaneous Squamous Cell Carcinoma catalyst?

The next dated catalyst in Cutaneous Squamous Cell Carcinoma is IOVA on 23 Oct 2026. 1 dated event across the field fall in the next 12 months.

How this page is built

  • Universe is US-listed drug developers with a $100M to $20B market capitalisation, identified by SEC SIC code 2833, 2834 or 2836 or by a pharmaceutical or biotechnology industry classification, less a reviewed exclusion list of contract research organisations, device and diagnostics makers and diversified generics manufacturers.
  • An asset attributed to three or more different companies is treated as shared standard of care rather than any one company’s programme and excluded. Pembrolizumab alone appears under 21 tickers in raw trial data.
  • A programme counts only where at least one industry-sponsored trial supports it, so investigator-initiated academic studies of third-party drugs are excluded.

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.

Back to the disease map