Abstract: Since the beginning of the 21^st century, the field of cancer drug development has undergone significant changes. Kinase inhibitors are the product category with the highest number of approved drugs and indications. However, despite checkpoint inhibitors being only introduced to the market since 2011, they have become the second most approved product categories. In the year of 2023, the FDA’s Center for Drug Evaluation and Research (CDER) has approved 13 new cancer therapeutic drugs. In the past five years, a slight increase in drug approvals targeting biomarker-defined populations as well as emerging approvals that are agnostic to tumor anatomy has been recorded. Currently, new treatment approaches and technologies, such as the development of Artificial Intelligence (AI), have increasingly profound progress on cancer drug development.