Tagraxofusp is an immunomodulator. The therapy is a fusion protein of a CD123-directed cytotoxin made from human interleukin-3 fused to truncated diphtheria toxin. The overexpression of interleukin-3 receptor subunit alpha (IL3RA or CD123) occurs in nearly all blastic plasmacytoid dendritic cell neoplasms. 

The drug is indicated for the treatment of blastic plasmacytoid dendritic cell neoplasm.