ELREXFIO Beats Three Standard Myeloma Regimens on Progression-Free Survival in Phase 3
PFE sits 26% above its 52-week low of $23.62.
Summary
Pfizer's ELREXFIO (elranatamab) met the primary progression-free survival endpoint in the Phase 3 MagnetisMM-32 study, beating investigator's choice of three established regimens (EloPd, PVd, Kd) in relapsed or refractory multiple myeloma patients who had already received anti-CD38 therapy and lenalidomide. The result is statistically significant and clinically meaningful, with an estimated 68% PFS at 18 months and median PFS not yet reached; overall survival data remain immature. Safety was consistent with the known profile, though Grade ≥3 infections ran 27.5% versus 18.1% on the comparators. This is the second Phase 3 win for ELREXFIO after MagnetisMM-5 and supports moving the BCMA bispecific earlier in the treatment sequence, expanding the addressable population beyond its current fourth-line accelerated approval. Pfizer plans to submit the data to global health authorities, with detailed results at a future medical meeting. The next read is the pre-specified overall survival analysis.
At the time of this announcement, PFE was trading at $29.77 on NYSE in the Life Sciences sector, with a market capitalization of approximately $169.8B. The 52-week trading range was $23.62 to $30.44. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.