Pfizer's cancer drug ELREXFIO outperforms standard therapy in late-stage multiple myeloma trial

Pfizer announced positive topline results from its Phase 3 MagnetisMM-5 study showing that its cancer treatment ELREXFIO significantly improves progression-free survival in patients with multiple myeloma compared to the standard therapy of daratumumab plus pomalidomide and dexamethasone. ELREXFIO is already approved in over 35 countries, and the trial continues to assess overall survival. The safety profile remains consistent with previous findings. Pfizer is expected to report earnings on May 5, 2026, with mixed analyst sentiment on its stock's growth potential and valuation.