Pfizer posts late-stage trial win for multiple myeloma drug Elrexfio in an earlier line setting

What happened: Pfizer said its Phase 3 MagnetisMM-32 study of Elrexfio (elranatamab) met its primary endpoint as monotherapy in adults with relapsed or refractory multiple myeloma who received one or more prior lines of therapy. Key numbers: 523 patients in the international trial. Primary endpoint was progression-free survival. Why it matters: The result supports Elrexfio in an earlier-line setting, where it is currently approved only after four or more prior therapies. Pfizer will share findings with global health regulators and present detailed results at a future medical event. Market: -0.8% today ($29.79), +22.3% YTD, 0.7x vol — as of 12:00 UTC

Pfizer said its Phase 3 MagnetisMM-32 study of Elrexfio (elranatamab) met its primary endpoint as monotherapy in adults with relapsed or refractory multiple myeloma who received one or more prior lines of therapy.

The result supports Elrexfio in an earlier-line setting, where it is currently approved only after four or more prior therapies. Pfizer will share findings with global health regulators and present detailed results at a future medical event. Market: -0.8% today ($29.79), +22.3% YTD, 0.7x vol — as of 12:00 UTC