Oncology Stocks to Add to Your Portfolio as Cancer Care Evolves

An updated edition of the July 8, 2026, article.

The global oncology market is undergoing significant transformation, driven by the rising burden of cancer, aging populations and rapid advances in medical science. According to the American Cancer Society, the United States is expected to report nearly 2.1 million new cancer cases and more than 626,000 cancer deaths in 2026. Globally, aging demographics and growing exposure to risk factors such as smoking, obesity and physical inactivity are increasing cancer prevalence and supporting sustained demand for oncology treatments.

At the same time, innovation is reshaping how cancer is diagnosed and treated. Advances in immunotherapy, targeted drugs and personalized cancer vaccines are expanding treatment options beyond traditional chemotherapy and radiation. Immune-based approaches, including checkpoint inhibitors, CAR-T therapies, therapeutic vaccines and oncolytic viruses, are enabling more targeted attacks on cancer cells. Targeted medicines, meanwhile, are designed to address specific genetic and molecular abnormalities, while personalized vaccines could further advance individualized treatment.

Technologies such as genomic sequencing, artificial intelligence and machine learning are also accelerating biomarker discovery, improving patient selection and supporting earlier, more precise diagnosis. Although a universal cure for cancer remains elusive, better screening, earlier detection and increasingly effective therapies are improving survival and outcomes across several cancer types.

Pharmaceutical companies continue to make oncology a strategic priority, increasing R&D spending and broadening their pipelines. Industry leaders such as Novartis NVS, AstraZeneca AZN, J&J JNJ, Pfizer PFE, AbbVie, Merck, Bristol Myers Squibb and Eli Lilly are pursuing innovative modalities, including antibody-drug conjugates (ADCs), bispecific antibodies and next-generation immuno-oncology treatments. Smaller biotechs are also driving innovation, creating novel targets and technologies that frequently attract partnerships, licensing agreements and M&A interest.

With continued scientific progress, expanding treatment options and growing healthcare needs, oncology remains one of the most resilient and attractive areas of the global healthcare industry, offering substantial long-term opportunities for pharmaceutical companies and investors.

With our thematic screens, you can easily spot stocks tied to trends shaping the future of investing. For those looking to gain exposure to the oncology space, companies such as Iovance Biotherapeutics IOVA, Merit Medical Systems MMSI and Kura Oncology KURA may be worth evaluating as part of a forward-looking portfolio strategy.

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3 Cancer Stocks in Focus

A commercial-stage company, Iovance Biotherapeutics is primarily focused on developing and commercializing novel T cell-based cancer immunotherapies. These immunotherapies use Generation 2 (“Gen 2”) tumor-infiltrating lymphocyte ("TIL"), which harnesses the power of a patient’s immune system to eradicate cancer cells. The Gen 2 process is currently in use in almost all studies in which the company manufactures TIL products, including Amtagvi (lifileucel) and LN-145. The company is also focused on developing a Generation 3 TIL.

Amtagvi was approved in 2024 for the treatment of adult patients with advanced melanoma previously treated with a PD-1 and targeted therapy.  Apart from melanoma, Iovance is developing Amtagvi in other cancer indications with encouraging data across several label expansion studies. In 2023, Iovance acquired worldwide rights to an FDA-approved interleukin-2 (IL-2) product, Proleukin (aldesleukin), from U.K.-based Clinigen Limited.

Since its launch in 2024, Amtagvi’s uptake has been encouraging. This encouraging demand has also driven Proleukin sales, as the drug is used in the Amtagvi regimen. 

Iovance also has an early-stage, non-genetically modified, polyclonal T cell product candidate, IOV-2001, which is being developed for chronic lymphocytic leukemia or small lymphocytic leukemia.

Iovance has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Merit Medical Systems’ oncology business is becoming an increasingly important part of its Therapeutic portfolio, although it is still relatively small compared with the company’s overall revenue base.

Merit Medical Systems’ oncology portfolio includes SCOUT and SCOUT MD for wire-free tumor localization, OneMark for lesion marking during breast biopsies, soft-tissue biopsy devices, SAVI for partial-breast brachytherapy, and interventional oncology products such as Embosphere and HepaSphere microspheres.

Its oncology revenues grew 7% to $49.3 million in the first half of 2026. The launch of SCOUT MD and the addition of the OneMark system from the April 2026 acquisition of View Point Medical has significantly expanded the addressable market for Merit’s oncology products.

Management estimates the U.S. oncology opportunity could increase from about 400,000 to 1.3 million procedures annually, supporting potentially stronger oncology growth over the next few years.

MMSI has a Zacks Rank #1.

Kura Oncology’s only marketed drug is Komzifti (ziftomenib), a once-daily, oral menin inhibitor for the treatment of adults with relapsed or refractory NPM1-mutated acute myeloid leukemia (AML).  The drug, which was approved by the FDA in November 2025, generated $9.1 million in sales in the second quarter, a 57% increase sequentially, while new patient starts rose approximately 35% to about 115. Kura said Komzifti achieved a majority share of new patient starts in the relapsed/refractory NPM1-mutant AML menin-inhibitor class after only two full quarters on the market.

Beyond Komzifti, Kura is developing ziftomenib in earlier-line and combination settings across AML.

Kura’s key pipeline candidate is darlifarnib, a next-generation farnesyl transferase inhibitor being evaluated in early-stage studies in advanced renal cell carcinoma in combination with cabozantinib and KRAS-mutated solid tumors, including studies involving adagrasib.

Kura Oncology has a Zacks Rank of 2.

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