Bristol Myers Squibb & Co (NYSE:BMY) had a busy Monday morning, rolling out outcomes from two major Phase 3 clinical trials at once. The results point to meaningful progress in treating gastroenteropancreatic neuroendocrine tumors and idiopathic pulmonary fibrosis. Investors liked what they read: the stock rose more than 4% in premarket trading.

RayzeBio's RYZ101 Shows Promise For Neuroendocrine Tumors

Start with the first program. In the planned interim analysis of the ACTION-1 clinical trial, RayzeBio, a subsidiary of the company, demonstrated a clinically meaningful and statistically significant improvement in progression-free survival for its RYZ101 therapy.

Blinded independent central reviewers confirmed the study successfully met its primary endpoint.

The Phase 3 trial evaluated RYZ101 in patients with somatostatin receptor-positive gastroenteropancreatic neuroendocrine tumors whose disease had already progressed following previous Lutetium-177-based therapies.

Safety outcomes aligned precisely with the established safety profile for RYZ101. Following an FDA Orphan Drug Designation granted earlier in August 2026, RayzeBio plans to meet with regulators to discuss the next steps for a formal regulatory submission.

Admilparant Hits Primary Endpoint In Pulmonary Fibrosis Trial

Separately, the company revealed positive topline efficacy and safety results from the ALOFT-IPF trial. The Phase 3 study tested admilparant, an oral lysophosphatidic acid receptor 1 antagonist, in adults battling idiopathic pulmonary fibrosis.

Participants taking a 60 mg dose of admilparant twice daily experienced a statistically significant improvement in their forced vital capacity at Week 52 compared to those taking a placebo.

While the higher 120 mg dose slowed the overall decline in lung capacity, it did not achieve statistical significance.

Patients tolerated both admilparant dose levels well throughout the study. Trial discontinuation rates stemming from adverse medical events remained low and closely matched the placebo group.

The company continues to study the drug in the fully enrolled ALOFT-PPF trial for progressive pulmonary fibrosis, anticipating those topline results in early 2027.

BMY Price Action: Bristol-Myers Squibb shares were up 4.30% at $61.66 during premarket trading on Monday, according to market data.