Perspective Therapeutics (CATX) has signed a clinical trial collaboration with Merck (MRK) for the potential evaluation of a combination cancer treatment, Perspective Therapeutics said Monday.

The agreement supports the evaluation of Perspective Therapeutics' PSV359 targeted alpha-particle therapy in combination with Merck's Keytruda.

The combination will be assessed under an amendment to the company's ongoing phase 1/2a study in patients with certain types of non-small cell lung and colorectal cancers, Perspective Therapeutics said.

Perspective Therapeutics shares were up 6.2% in premarket activity, while Merck rose 1.3%.