2025 Oncology Mid-Year Check-in: Reflections & Expectations

Published June 20, 2025

Reflecting on the first half of 2025 including data from AACR, ASCO and EHA, we see several notable trends continuing to shape the oncology landscape. While development follows momentum observed the last few years, these learnings provide a clearer understanding into the next wave of innovation. 

Immunotherapy Moves Earlier in the Journey 

One of the most notable themes is the continued momentum of PD-L1 therapies moving into earlier lines of treatment. New data supporting neoadjuvant use in solid tumors suggests that triggering a systemic T-cell response before tumor resection may offer meaningful benefits. This shift could reshape treatment paradigms across multiple tumor types, including areas (e.g. head and neck cancer, melanoma) where PD-L1s are only recently or not yet indicated in these settings. 

ctDNA: From Mutation Detection to Prognostic Tool 

Circulating tumor DNA (ctDNA) – i.e. fragmented DNA shed by cancer cells into the bloodstream – is evolving beyond its role in mutation identification. There is growing evidence of ctDNA’s utility as a prognostic marker and as a trigger for treatment escalation. This could open the door to more personalized and dynamic treatment strategies, particularly in earlier-stage disease. 

ADCs and Bispecifics: The Next Generation of Targeted Therapies 

Antibody-drug conjugates (ADCs) continue to show incremental progress – although are not ubiquitously home-runs. At ASCO 2025, Enhertu’s continued run of practice-changing data, this time in HER2-low breast cancer, and the Trodelvy-Keytruda combination in triple-negative breast cancer (TNBC) were notable moments. These results reinforce the growing role of ADCs as a more effective alternative to traditional chemotherapy. 

Bispecifics also remain a hot topic, especially those with immune-stimulating mechanisms (e.g., CD3-targeting) and dual/tri-targeting constructs. While there are open questions on if early signals (e.g. PFS) will translate to durable outcomes (e.g. OS), there continues to be broader buzz from PD-L1/VEGF deals. There is also notable progress across a broad range of other targets in both solid tumors and heme – including continued conversation on the fit of bispecifics vs. CAR-T. 

AI: A Quiet Presence 

Despite the general buzz of AI everywhere, artificial intelligence hasn’t taken center stage in oncology. While there were hypotheses shared on the potential opportunity of AI to aid in assessing exploratory sub-group data and hope that AI can help more tangibly in the future, AI has not taken hold in either R&D or clinical decision-making – yet. 

Final Thoughts 

While 2025 has not delivered unexpected news, it offers a clear view of where oncology is heading: earlier intervention, smarter biomarkers and more impactful targeted therapies.  

At Trinity, we believe Every Decision Impacts a Life. We are excited to help our clients navigate this evolving landscape and translate these insights into real-life impact. Connect with us to discuss where Oncology is headed and how we can partner to support your success. 

Authors: Parker Jendrycki and Andy Wong