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Metastatic Small Cell Lung Cancer: one US-listed biotech with a clinical-stage programme

OncologyUncontestedData as of 2026-09-04

Competitors1in the clinic
Median market cap$4.0Buniverse median $1.20B
Allocated capital$1.3B$4.0B competing
Phase 3 or filed00 mid, 1 early
Pure plays0this indication only
Capital rank122/299crowding rank 141

Metastatic Small Cell Lung Cancer is uncontested. Legend Biotech (LEGN) is the only US-listed developer in the $100M to $20B band running a clinical programme here, with LB2102 in phase 1.

There is no public comparable to price it against. LEGN spreads its $4.0B market cap across 3 indications, so $1.3B of it is allocated here.

Nothing here has reached Phase 3: 0 programmes in mid stage and 1 in early stage, so the field is still several years from a first approval.

$1.3B of allocated capital sits in Metastatic Small Cell Lung Cancer, ranking it 122nd of 299 indications by the money committed to it.

Companies developing drugs for Metastatic Small Cell Lung Cancer 1

TickerCompanyLead assetPhaseTrialsMarket capPure playIndicationsNext catalyst
LEGNLegend BiotechLB2102Phase 11$4.0BNo3No dated event

Sorted by phase, then by market capitalisation. Ticker links open the company profile.

Why Metastatic Small Cell Lung Cancer counts as uncontested

Uncontested. One US-listed developer in the size band is running a clinical programme here, so there is no public comparable to price it against.

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. Metastatic Small Cell Lung Cancer has one competitor and a median of $4.0B.

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

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Metastatic Small Cell Lung Cancer pipeline questions

Which biotech companies are developing drugs for Metastatic Small Cell Lung Cancer?

Legend Biotech (LEGN, LB2102, Phase 1). Those are the 1 US-listed developer in the $100M to $20B market cap band with a clinical-stage programme in Metastatic Small Cell Lung Cancer.

How advanced is the Metastatic Small Cell Lung Cancer pipeline?

Of the 1 clinical-stage programme in Metastatic Small Cell Lung Cancer, 0 are in Phase 3 or filed, 0 are in mid-stage development and 1 is in early-stage development.

Is anyone else developing a drug for Metastatic Small Cell Lung Cancer?

No. LEGN is the only US-listed company in the $100M to $20B market cap band with a clinical-stage programme in Metastatic Small Cell Lung Cancer, which is why the indication is classified as uncontested.

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.

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