Bristol Myers Squibb (BMY) said Monday that an interim analysis of a phase 3 trial evaluating RayzeBio's radiopharmaceutical therapy RYZ101 met its primary endpoint.

Bristol Myers Squibb said the treatment showed a statistically significant and clinically meaningful improvement in progression-free survival by blinded independent central review.

The randomized trial, conducted by RayzeBio, compares RYZ101 with the investigator's choice of standard care in patients with somatostatin receptor-positive gastroenteropancreatic neuroendocrine tumors that progressed following lutetium-177-based therapy.

Safety results were consistent with the known profile of RYZ101, Bristol Myers Squibb said.

Bristol Myers Squibb said enrolled patients will continue to receive care under the study protocol and will be followed for overall survival.

Shares of Bristol Myers Squibb were up more than 3.7% in premarket activity on Monday.