Plerixafor is a small molecule antagonist of the CXCR4 chemokine receptor, which is crucial for the homing and retention of hematopoietic stem cells (HSCs) in the bone marrow. By inhibiting the interaction between CXCR4 and its ligand, stromal cell-derived factor-1 (SDF-1), plerixafor mobilizes HSCs into the peripheral blood stream, making it easier to collect them for transplantation.