Late‑breaker data from the Majestec‑3 trial presented at ASH showed the teclistamab plus daratumumab combo produced an unprecedented progression‑free survival (PFS) benefit in relapsed/refractory multiple myeloma, with an 83.4% three‑year PFS rate versus 29.7% for standard care, presenters reported. Maria‑Victoria Mateos called the effect among the largest seen to date and said curves suggested a potential plateau consistent with a functional cure signal. The ASH session underscored a renewed contest between bispecific antibodies and CAR‑T therapies as companies jockey for earlier lines of treatment. Johnson & Johnson, Gilead and other players reported multiple myeloma readouts, framing a competitive landscape for both off‑the‑shelf bispecifics and autologous CAR‑Ts. For commercial teams and payers, the data amplify questions about sequencing, durable benefit and access. Clinicians will focus on toxicity profiles, feasibility of outpatient dosing, and whether the combination can replicate findings in broader, real‑world populations.