BOSTON (

TheStreet

) --The

American Society of Clinical Oncology

(ASCO) annual meeting doesn't kick off for another two and half months, but it's not too early for investors and traders to start compiling a target list of cancer-focused drug stocks.

If it hasn't started already, the momentum in cancer drug stocks will emerge in the days and weeks leading up to May 18. That's the date this year when ASCO will post research abstracts to its annual meeting on the group's web site. The actual ASCO annual meeting doesn't begin until June 3, but if you're looking to trade cancer-focused drug stocks, waiting for June usually means being very late to the party.

For ASCO 2011 buzz, I'd look to prostate cancer stocks. Investors are kicking the tires on

Medivation's

(MDVN)

MDV-3100, especially since the company is dropping strong hints about a phase III interim analysis towards the end of the year. Investors are also focused on

Exelixis

(EXEL) - Get Report

for cabozantinib both in prostate cancer and more immediately for upcoming results from a phase III study in medullary thyroid cancer.

This year's ASCO meeting will be the second go-around for

Dendreon

(DNDN)

with an approved Provenge under its wing. With Provenge manufacturing capacity expanding, are oncologists, particularly those at academic medical centers, becoming more enthusiastic prescribers of Dendreon's groundbreaking cancer immunotherapy?

Skin cancer is likely to be a hot topic once again, led by

Bristol-Myers Squibb's

(BMY) - Get Report

Yervoy, which faces a key FDA approval decision at the end of the week. Bristol will use this year's ASCO meeting to both launch Yervoy but also to present new and

commercially important data in front-line melanoma

.

Roche

also figures to play heavily in the ASCO skin cancer discussion at with two drugs, PLX4032 and vismodegib (the latter partnered with

Curis

(CRIS) - Get Report

.)

Sanofi-Aventis

(SNY) - Get Report

will discuss negative results from a phase III study of iniparib in metastatic triple-negative breast cancer, looking for a silver lining in a disappointing clinical setback.

ASCO is a meeting in which drug research on solid tumors (breast, lung, colon, prostate) dominates, but blood-related cancer drugs also share the stage. The controversy over secondary malignancies tied (or not tied) to long-term use of

Celgene's

(CELG) - Get Report

multiple myeloma drug Revlimid is sure to be a story line at this year's meeting.

Ariad Pharmaceuticals

(ARIA)

is likely to provide an update on a mid-stage study of ponatinib in chronic myeloid leukemia. Ariad and partner

Merck

(MRK) - Get Report

will also present detailed data from a positive phase III study of ridaforolimus in sarcoma.

Incyte Pharmaceuticals

(INCY) - Get Report

and

Novartis

(NVS) - Get Report

will be presenting data from two previously announced (and positive) phase III studies of ruxolitinib in myelofibrosis.

YM BioSciences

(YMI)

is also targeting myelofibrosis with its drug CYT387 with updated mid-stage data expected at ASCO.

Clinical studies pitting one targeted cancer drug against another are a rarity, but this year's ASCO meeting might be the forum for two such head-to-head trials.

Pfizer

(PFE) - Get Report

and

Aveo Pharmaceuticals

(AVEO) - Get Report

are running separate phase III studies that compare their experimental kidney cancer drugs (axitinib and tivozanib, respectively) directly against

Onyx Pharmaceuticals'

(ONXX)

Nexavar.

Other potential ASCO 2011 stocks:

Amgen

(AMGN) - Get Report

with Xegeva for the prevention of prostate cancer bone metastases;

Synta Pharmaceuticals

(SNTA)

and STA-9090;

Vical's

(VICL)

melanoma drug allovectin-7;

Oncothyreon

(ONTY)

and its Stimuvax lung cancer vaccine;

Cell Therapeutics

(CTIC) - Get Report

and the newly licensed leukemia drug tosedostat; and

Oxigene's

(OXGND)

zybrestat.

Am I missing any potential ASCO 2011 drug stocks? Please let me know in the comments section below.

--Written by Adam Feuerstein in Boston.

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Adam Feuerstein writes regularly for TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback;

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