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ASCO 2026 Recap: Five Days of ADCs, Bispecifics, Cell Therapy, and Precision Oncology

  • Jun 4
  • 4 min read

ASCO 2026 delivered important updates across hematologic malignancies, lung cancer, breast cancer, gastrointestinal cancers, melanoma, and several rare and difficult-to-treat tumors. Across the meeting, ADCs, bispecific antibodies, cell therapies, radioligand approaches, and increasingly precise biomarker-driven strategies remained at the center of oncology innovation.


One presentation stood above the rest. During the Day 3 Plenary Session, Revolution Medicines presented what quickly became the most discussed dataset of the conference.


Plenary Spotlight: Revolution Medicines ($RVMD)

The standout presentation of ASCO 2026 came from Revolution Medicines, which reported Phase 3 RASolute 302 data for daraxonrasib, an oral RAS(ON) multi-selective inhibitor, in previously treated metastatic pancreatic ductal adenocarcinoma (PDAC).

In the intent-to-treat population, daraxonrasib demonstrated median overall survival of 13.2 months versus 6.7 months for standard-of-care chemotherapy (HR 0.40, p<0.0001). Progression-free survival improved to approximately 7.2-7.3 months versus 3.5-3.6 months with chemotherapy. All primary and key secondary endpoints were met, objective response rates improved significantly, and no new safety signals emerged.

Given the historical difficulty of treating pancreatic cancer, this became the defining readout of the meeting. Beyond PDAC, the results provided meaningful validation for the broader RAS(ON) approach across multiple RAS-driven cancers.



Day 1: ADCs, Bispecifics, and Precision Oncology

Biggest Winners

Corbus Pharmaceuticals ($CRBP) presented encouraging data for its Nectin-4 ADC CRB-701 in recurrent or metastatic cervical cancer, showing an unconfirmed ORR of up to 37.5% at higher dose levels with manageable safety.

Stock move: +3.5%


Corcept Therapeutics ($CORT) reported additional Phase 3 ROSELLA analyses showing relacorilant plus nab-paclitaxel maintained an overall survival benefit in platinum-resistant ovarian cancer regardless of prior taxane exposure.

Stock move: +1.6%


Nuvalent ($NUVL) continued to impress with neladalkib in ALK-positive NSCLC. Activity was observed in heavily pretreated patients, including those with CNS disease and resistance mutations, while early first-line data produced an ORR of 86%.

Stock move: +1.0%


Other Notable Updates

Bristol Myers Squibb ($BMY) reported positive golcadomide and mezigdomide data across lymphoma and multiple myeloma.

Regeneron ($REGN) presented encouraging first-line odronextamab plus CHOP data in high-risk DLBCL, including complete response rates of 85%.

Johnson & Johnson ($JNJ) delivered multiple positive myeloma updates, including MajesTEC-9 and daratumumab analyses.

Other notable updates came from Merck, Eli Lilly, GSK, AstraZeneca, Pfizer, AbbVie, and Rigel.



Day 2: Cell Therapy, Lung Cancer, and Late-Stage Oncology

Cell Therapy

Immatics ($IMTX) presented Phase 1a data for IMA203CD8, a PRAME-directed TCR-T therapy in ovarian cancer.

Autolus ($AUTL) reported updated obe-cel data in relapsed/refractory B-cell ALL.


Precision Lung Cancer

BioNTech ($BNTX) presented Phase 2/3 data for its PD-L1/VEGF-A bispecific antibody in first-line NSCLC.

Black Diamond Therapeutics ($BDTX) reported silevertinib data in non-classical EGFR-mutated NSCLC.

AstraZeneca ($AZN) explored biomarker-defined populations involving STK11, KEAP1, and KRAS mutations.


Phase 3 Updates

Merck ($MRK) presented final KEYNOTE-522 analyses in early-stage TNBC.

Novartis ($NVS) reported additional NATALEE data supporting ribociclib in early breast cancer.

Pfizer ($PFE) presented TALAPRO-3 data in HRR-altered metastatic castration-sensitive prostate cancer.

Incyte ($INCY) reported Phase 3 frontMIND data in high-risk DLBCL.


Rare Tumors

Cogent Biosciences ($COGT) reported Phase 3 PEAK results for bezuclastinib in GIST.

Additional updates came from GSK, Immunome, and Inhibrx.



Day 3: T-Cell Therapies and Late-Stage Oncology

Cell Therapy in Solid Tumors

Replimune ($REPL) presented final Phase 1 RP2 data in advanced solid tumors.

AstraZeneca ($AZN) reported initial Phase 1 results for NT-175 in TP53 R175H-mutated cancers.

Immatics ($IMTX) presented first-in-human IMA401 data targeting MAGEA4/8.

Novartis ($NVS) reported tisagenlecleucel data in pediatric and young adult B-cell ALL.


Additional Highlights

Pfizer ($PFE) presented BREAKWATER analyses in BRAF V600E-mutant colorectal cancer.

Johnson & Johnson ($JNJ) reported OrigAMI-4 data in head and neck cancer.

Sanofi ($SNY), GSK ($GSK), and JNJ delivered multiple myeloma updates.

Gilead ($GILD), Genentech ($RHHBY), and AstraZeneca ($AZN) presented important breast cancer studies.

Additional presentations included Legend Biotech, Jazz Pharmaceuticals, AbbVie, Novartis, and Immatics.



Day 4: Melanoma, GI Cancers, and Lung Cancer

Urothelial Carcinoma

Bicycle Therapeutics ($BCYC) reported Duravelo-2 data.

Stock move: -3.4%


Eli Lilly ($LLY) presented initial EXCEED results for LY4101174.

Stock move: -2.1%


Melanoma

Moderna ($MRNA) presented five-year KEYNOTE-942 data.

Stock move: -2.4%


Immatics ($IMTX) reported updated PRAME melanoma data.

Stock move: -3.2%


Ideaya Biosciences ($IDYA) reported OptimUM-02 results in metastatic uveal melanoma.

Stock move: -1.8%


GI and Hepatobiliary Cancers

AstraZeneca ($AZN) reported EMERALD-3 data in HCC.

Incyte ($INCY) presented Phase 3 FIGHT-302 results in FGFR2-rearranged cholangiocarcinoma.

Immuneering ($IMRX) reported Phase 2a pancreatic cancer data.

Stock move: -22.1%

Additional presentations came from HUTCHMED, Jazz, AbbVie, and Amgen.



Day 5: Colorectal Cancer, Breast Cancer, and Myelofibrosis

Colorectal Cancer

Cardiff Oncology ($CRDF) presented interim Phase 2 CRDF-004 results in RAS-mutated metastatic colorectal cancer.

Stock move: +2.0%

Amgen ($AMGN) reported CodeBreaK 300 ctDNA clearance data.


Solid Tumors and Radioligands

BeOne Medicines ($ONC) presented first clinical data for both a GPC3 x 4-1BB bispecific antibody and a B7-H4 ADC.

Novartis ($NVS) reported radioligand therapy data in extensive-stage SCLC.


Myelofibrosis

Disc Medicine ($IRON) presented Phase 2 RALLY-MF data.

Stock move: -5.5%


Karyopharm ($KPTI) reported Phase 3 SENTRY results.

Stock move: -6.0%


Breast Cancer

AstraZeneca, Pfizer, Gilead, and Roche presented multiple updates across HR+/HER2-, HER2-positive, and TNBC settings.

Celcuity ($CELC) reported VIKTORIA-1 data and experienced the largest stock move of the meeting.

Stock move: -25.7%



Biggest Market Movers of the Week

🟢 Top Gainers

  • CRBP: +3.5%

  • CRDF: +2.0%

  • CORT: +1.6%


🔴 Largest Decliners

  • CELC: -25.7%

  • IMRX: -22.1%

  • KPTI: -6.0%


The meeting again demonstrated that positive or in-line clinical data does not necessarily translate into positive stock performance.



Catalysts We Will Be Watching

  • RVMD: Regulatory submissions and expansion into additional RAS-driven tumors

  • NUVL: Continued first-line development of neladalkib

  • REGN: Phase 3 advancement of odronextamab

  • BMY: Expansion of the CELMoD platform

  • CRBP and LLY: Competitive positioning among Nectin-4 ADCs

  • IMTX: Continued development of PRAME-directed TCR-T therapies

  • COGT: Regulatory and commercial implications of Phase 3 GIST data

  • IDYA: Next steps in first-line uveal melanoma


CELC and IMRX: Follow-up data after the week's largest declines


ASCO 2026 5-Day Recap TLDR with five day oncology highlights and market movers.

This article is not investment, tax, or legal advice. Please do your own diligence and seek advice from professional advisors representing your interests.


Article history:

First published 6/4/26 RF & MD

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