The present invention relates to methods and compositions for the treatment, management, or prevention of multiple myeloma and/or renal dysfunction in mammals. The methods of the invention comprise the administration of an effective amount of one or more pituitary adenylate cyclase activating polypeptide (“PACAP”) compounds, which includes PACAP, vasoactive intestinal peptide (“VIP”), their agonists, analogs, fragments, or derivatives, having one or more PACAP activities. The invention also provides pharmaceutical compositions comprising one or more PACAP compounds of the invention either alone or in combination with one or more other prophylactic/therapeutic agents useful in therapy for the treatment, management, or prevention of multiple myeloma and/or renal dysfunction.