By Colin Kellaher

Pfizer Inc. on Thursday said the U.S. Food and Drug Administration granted breakthrough-therapy designation to its investigational cancer immunotherapy elranatamab for the treatment of relapsed or refractory multiple myeloma.

The FDA's breakthrough-therapy designation aims to expedite the development and review of a drug for serious conditions when preliminary clinical evidence shows the drug may show substantial improvement over available therapies.

The New York drugmaker said people with multiple myeloma whose disease has relapsed or is refractory to existing treatments currently have few avenues for staving off the currently incurable blood cancer.

Pfizer previously received FDA orphan-drug and fast-track designation for elranatamab.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

November 03, 2022 09:40 ET (13:40 GMT)

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