Biotech Values

[DewDiligence]

FDA approves PFE’s Elrexfio—(elranatamab)—for rrMM:

https://finance.yahoo.com/news/pfizer-elrexfio-receives-u-fda-180800306.html

This is an accelerated approval for patients who have failed four or more prior therapies, so the addressable market for this indication is pretty small. PFE plainly intends to move Elrexfio in earlier lines of treatment, where the addressable market is larger—and the competition is stiffer.

Elrexfio is a bispecific mAb injected subcutaneously once per week (or every other week after one year). Elrexfio is currently under review by the EMA (#msg-171269528).