Glioblastoma multiforme (GBM) is the most common primary brain malignancy. The current standard of therapy consists of surgical resection followed by concurrent chemoradiotherapy with temozolomide. Despite steady advances in all therapeutic modalities, clinical improvements have been slow and the prognosis remains poor. Utilizing powerful large-scale molecular techniques, several key pathways implicated in gliomagenesis have recently been identified and confirmed. These represent potential therapeutic targets, and by developing novel methods to specifically manipulate these pathways, we may achieve a meaningful and substantial improvement in the way we treat GBM. Here, we present and discuss the current status of research into the molecular pathways and potential therapeutic targets in GBM.