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Advanced Multiple Myeloma: one US-listed biotech with a clinical-stage programme

OncologyUncontestedData as of 2026-09-04

Competitors1in the clinic
Median market cap$460Muniverse median $1.20B
Allocated capital$230M$460M competing
Phase 3 or filed00 mid, 1 early
Pure plays0this indication only
Capital rank249/299crowding rank 252

Advanced Multiple Myeloma is uncontested. C4 Therapeutics (CCCC) is the only US-listed developer in the $100M to $20B band running a clinical programme here, with cemsidomide in phase 1.

There is no public comparable to price it against. CCCC spreads its $460M market cap across 2 indications, so $230M of it is allocated here.

Nothing here has reached Phase 3: 0 programmes in mid stage and 1 in early stage, so the field is still several years from a first approval.

$230M of allocated capital sits in Advanced Multiple Myeloma, ranking it 249th of 299 indications by the money committed to it.

Companies developing drugs for Advanced Multiple Myeloma 1

TickerCompanyLead assetPhaseTrialsMarket capPure playIndicationsNext catalyst
CCCCC4 TherapeuticscemsidomidePhase 12$460MNo2 25 Sep 2026

Sorted by phase, then by market capitalisation. Ticker links open the company profile.

Why Advanced Multiple Myeloma counts as uncontested

Uncontested. One US-listed developer in the size band is running a clinical programme here, so there is no public comparable to price it against.

The map splits indications on two folds: six or more competitors counts as crowded, and a median company above $1.20B counts as richly priced. Advanced Multiple Myeloma has one competitor and a median of $460M.

Oncology

Oncology holds $187B of the map's capital, 27.8% of the total, spread across 119 indications and 103 companies. 34 of those indications have more than one company competing.

See every Oncology indication on the map

Related indications in Oncology

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Advanced Multiple Myeloma pipeline questions

Which biotech companies are developing drugs for Advanced Multiple Myeloma?

C4 Therapeutics (CCCC, cemsidomide, Phase 1). Those are the 1 US-listed developer in the $100M to $20B market cap band with a clinical-stage programme in Advanced Multiple Myeloma.

How advanced is the Advanced Multiple Myeloma pipeline?

Of the 1 clinical-stage programme in Advanced Multiple Myeloma, 0 are in Phase 3 or filed, 0 are in mid-stage development and 1 is in early-stage development.

Is anyone else developing a drug for Advanced Multiple Myeloma?

No. CCCC is the only US-listed company in the $100M to $20B market cap band with a clinical-stage programme in Advanced Multiple Myeloma, which is why the indication is classified as uncontested.

When is the next Advanced Multiple Myeloma catalyst?

The next dated catalyst in Advanced Multiple Myeloma is CCCC on 25 Sep 2026. 1 dated event across the field fall in the next 12 months.

How this page is built

  • Universe is US-listed drug developers with a $100M to $20B market capitalisation, identified by SEC SIC code 2833, 2834 or 2836 or by a pharmaceutical or biotechnology industry classification, less a reviewed exclusion list of contract research organisations, device and diagnostics makers and diversified generics manufacturers.
  • An asset attributed to three or more different companies is treated as shared standard of care rather than any one company’s programme and excluded. Pembrolizumab alone appears under 21 tickers in raw trial data.
  • A programme counts only where at least one industry-sponsored trial supports it, so investigator-initiated academic studies of third-party drugs are excluded.

Allocated capital divides each company’s market capitalisation evenly across the indications it is running clinical programmes in, so every dollar of the universe is counted exactly once. Total market capitalisation competing counts a company in each of its indications and therefore sums to more than the universe.

Third-party market size estimates are not used anywhere on this page. Approved incumbents are excluded from competitor counts, and companies above $20B are outside the universe by construction.

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