Penile cancer is a disease in which malignant (cancer) cells form in the tissues of the penis. It is usually rare and a slow-growing cancer if caught early before further spreading. The chances of survival are high, and around 75 percent of men diagnosed with penile cancer will survive the disease. Unfortunately, most men tend to ignore potential penile cancer symptoms for some time, which leads to a subsequent delay in diagnosis. Penile cancer is usually found on the glands or foreskin of the penis but can also occur on the shaft of the penis. Almost all penile cancers begin in the skin of the penis.