CITIC Securities: Unlocking non-drug target RAS drugs opens up new prospects for cancer treatment.

CITIC Securities research report states that unlocking non-druggable targets, RAS drugs are opening up a new era in tumor treatment. RAS is one of the most important oncogenic driver gene families in human tumors, mainly including KRAS, NRAS, and HRAS, with KRAS occupying a core position. RAS targeted therapy has moved from the G12C breakthrough to the G12D, Pan-KRAS, and Pan-RAS multi-route advancement stage, with pipeline layout and clinical validation gradually enriching. At the 2026 ASCO conference, RMC-6236 showed positive results in a Phase III study of 2L metastatic pancreatic cancer, with median OS close to doubling that of chemotherapy, further strengthening market expectations for the clinical value of RAS targeted therapy. Domestic companies are also actively following up in multiple directions such as G12D, Pan-RAS, and Pan-KRAS.