Inclusion Criteria:

Disease-related:

1. Multiple myeloma

2. Subjects must have measurable disease, defined as one or both of the following:

1. Serum M-protein ≥ 1.0 g/dL

2. Urine M-protein ≥ 200 mg/24 hours

3. Free light chains: Only in patients without measureable serum and urine
M-protein levels: the difference between involved and uninvolved FLC levels must
be at least 10 mg/dl.

3. Refractory to the most recently received therapy. Refractory disease is defined as ≤
25% response or progression during therapy or within 60 days after completion of
therapy.

4. Subjects must have progressed on standard dose 20/27 mg/m2 and schedule of
carfilzomib without having had any carfilzomib related grade 3 or 4 toxicities.

5. Subjects must have received ≥ 2 prior regimens for relapsed disease. Induction
therapy and stem cell transplant will be considered as one regimen

6. Subjects must have received prior treatment with bortezomib, and either thalidomide
or lenalidomide

7. Subjects must have received an alkylating agent unless contraindicated. Subjects may
have received these agents alone or in combination with other myeloma treatments.

Demographic:

1. Age ≥ 18 years

2. Life expectancy ≥ 3 months

3. Eastern Cooperative Oncology Group (ECOG) performance status 0-2

Laboratory/Radiology

1. Adequate hepatic function, with serum ALT ≤ 3.5 times the upper limit of normal and
serum direct bilirubin ≤ 2 mg/dL (34 µmol/L) within 14 days prior to randomization

2. Uric acid, if elevated, must be corrected to within laboratory normal range prior to
dosing

3. Absolute neutrophil count (ANC) ≥ 1.0 × 109/L within 14 days prior to randomization
independent of G-CSF for ≥ 1 week and pegylated G-CSF for ≥ 2 weeks

4. Hemoglobin ≥ 8 g/dL (80 g/L) within 14 days prior to randomization (subjects may be
receiving red blood cell [RBC] transfusions in accordance with institutional
guidelines)

5. Screening platelet count ≥ 50 × 109/L independent of platelet transfusions for at
least 2 weeks

6. Creatinine clearance (CrCl) ≥ 15 mL/minute within 7 days prior to randomization,
either measured or calculated using a standard formula (eg, Cockcroft and Gault)

7. LVEF ≥ 40% within 30 days before Cycle 1 Day 1. 2-D Transthoracic Echocardiogram
(ECHO) is the preferred method of evaluation; MUGA is acceptable if ECHO is not
available.

Exclusion Criteria:

Disease-related

1. Glucocorticoid therapy (prednisone > 10 mg/day or equivalent) within the last three
weeks

2. POEMS syndrome (polyneuropathy, organomegaly, endocrinopathy, monoclonal protein, and
skin changes)

3. Chemotherapy with approved or investigative anticancer therapeutics including steroid
therapy within the three weeks prior to first dose (unless enrolling on this study
after progression CMAP compassionate use carfilzomib protocol, in which case subject
may proceed with current study treatment on next expected date of treatment)

4. Radiation therapy or immunotherapy in the previous four weeks; localized radiation
therapy within 1 week prior to first dose

5. Participation in an investigational therapeutic study within three weeks or within
five drug half-lives (t1/2) prior to first dose, whichever time is greater (unless
enrolling after progression on CMAP compassionate use carfilzomib protocol)

Concurrent Conditions

1. Pregnant or lactating females

2. Major surgery within 21 days prior to randomization

3. Acute active infection requiring treatment (systemic antibiotics, antivirals, or
antifungals) within 14 days prior to randomization

4. Known human immunodeficiency virus infection

5. Known active hepatitis B or C infection

6. Unstable angina or myocardial infarction within 4 months prior to randomization, NYHA
Class III or IV heart failure, uncontrolled angina, history of severe coronary artery
disease, severe uncontrolled ventricular arrhythmias, sick sinus syndrome, or
electrocardiographic evidence of acute ischemia or Grade 3 conduction system
abnormalities unless subject has a pacemaker

7. Uncontrolled hypertension or uncontrolled diabetes within 14 days prior to
randomization

8. Nonhematologic malignancy within the past 3 years with the exception of a) adequately
treated basal cell carcinoma, squamous cell skin cancer, or thyroid cancer; b)
carcinoma in situ of the cervix or breast; c) prostate cancer of Gleason Grade 6 or
less with stable prostate-specific antigen levels; or d) cancer considered cured by
surgical resection or unlikely to impact survival during the duration of the study,
such as localized transitional cell carcinoma of the bladder or benign tumors of the
adrenal or pancreas

9. Significant neuropathy (Grades 3-4, or Grade 2 with pain) within 14 days prior to
randomization

10. Known history of allergy to Captisol® (a cyclodextrin derivative used to solubilize
carfilzomib)

11. Contraindication to any of the required concomitant drugs or supportive treatments,
including antiviral drugs, or intolerance to hydration due to preexisting pulmonary
or cardiac impairment

12. Subjects with pleural effusions requiring thoracentesis or ascites requiring
paracentesis within 14 days prior to randomization

13. Any other clinically significant medical disease or condition that, in the
Investigator's opinion, may interfere with protocol adherence or a subject's ability
to give informed consent