Immunomodulatory agents, monoclonal antibodies, bispecific antibodies, and CAR T-cell therapy have transformed multiple myeloma treatment. Despite improvements, MM remains incurable, prompting research into protein degradation and immune system activation. The triSpecific antibody JNJ-79635322 targets BCMA, GPRC5D, and CD3, showing promise in preclinical trials. Other approaches include BCMA-targeting ADCs like belantamab mafodotin and small molecule E3 ligase modulators like mezigdomide, aiming to enhance immunotherapies and prolong patient survival.