First comment is that there is a lot of double-counting going on here - for example, Abraxane appears half-a-dozen times, and that is not unusual for some of the other approved drugs like Avastin, as well as not-yet approved drugs such as ridaforolimus. Secondly, many of the VEGF drugs that he criticizes are not pure VEGF at all - rather they are targeted against multiple kinases (e.g., Exelixis' drug). Thirdly, the database also includes some clearly dead projects - for example I noted PCYC's old and very defunct motexafin gadolinium. Finally, I see a whole bunch of projects from companies I don't recognize at all - I assume these must be small private companies.
So at the end of the day I think this report substantially exaggerates the data.
My main point though is that I'm not investing in a portfolio of all oncology drugs under development - indeed I'd be happy to short the entire basket if I could as a pair trade against my longs. Rather I've picked a few that I think will be successful - ARIA, PCYC and MDVN as my substantial picks, with very much smaller positions in a handful of smaller oncology companies that I think have a differentiated drug.
I think the same point can be made with virtually any area of drug development. For example, there are over 1,400 studies on rheumatoid arthritis listed on clinicaltrials.org
Market Data 
Markets 
AI
