Daraxonrasib did what no RAS drug had managed before. In metastatic pancreatic cancer, it nearly doubled survival, from 6.7 to 13.2 months.

For decades KRAS was the poster child for "undruggable." A pan-RAS(ON) inhibitor just reset that bar. Now every BD team is asking the same thing: who owns the next RAS asset, and is any still gettable?

So we mapped the field: 102 active RAS programs in pancreatic, colorectal, and lung cancer, by mechanism and phase. One pattern jumps out. KRAS G12C is the mature class, with 6 approved drugs and 5 more in Phase 3. It is also mostly spoken for.

The next wave sits elsewhere, and it is early. Pan-RAS(ON), G12D, SHP2, and cell therapy add up to more than 60 programs, nearly all still early-stage. Daraxonrasib is the only pan-RAS(ON) asset to reach Phase 3. Here is what the headline count hides. Of the 23 programs at Phase 2 or beyond, 11 look unpartnered, but "unpartnered" flatters the map. Strip out the ones Novartis, Lilly, Incyte, and Astellas already own, plus Revolution Medicines' core pipeline, and the partnerable set shrinks to a short list, mostly China-origin and small biotechs.

Daraxonrasib did not only validate pan-RAS. It started a clock on everything behind it.