PF-06869206 is a selective positive allosteric modulator (PAM) of the muscarinic acetylcholine M4 receptor, primarily investigated by Pfizer for therapeutic applications in psychiatry, particularly schizophrenia. It is being studied as a potential treatment for positive and negative symptoms of schizophrenia, as well as cognitive impairments associated with the disorder. The compound's mechanism of action enhances M4 receptor signaling in the brain, which indirectly modulates dopamine release and other neurotransmitter pathways without directly blocking dopamine receptors, potentially offering improved tolerability over traditional antipsychotics. Researchers are exploring its efficacy in improving overall functioning in patients with schizophrenia. Ongoing clinical trials are assessing its safety, pharmacokinetics, and effectiveness in these areas.