AbbVie's etentamig shines in multiple-myeloma trials, but won't displace J&J's Carvykti

Johnson & Johnson (JNJ) shares rose about 1% to $277.955 on Thursday afternoon, despite AbbVie's announcement that its experimental multiple-myeloma drug etentamig produced a 74% response rate in clinical trials.

The trial results showed that etentamig lowered the risk of disease progression or death by 60% compared to standard therapies.

Etentamig, which is administered as a convenient monthly treatment, could potentially expand treatment options after CAR-T therapy without immediately displacing Johnson & Johnson's fast-growing Carvykti franchise.

According to Reuters, etentamig currently looks most differentiated after CAR-T therapy, rather than being an immediate substitute for Carvykti.