VivoSim Labs (VIVS) said Wednesday it received a $5 million milestone payment from Eli Lilly (LLY) after the first patient was dosed in a phase 2 trial of a drug acquired by Eli Lilly.

VivoSim said it remains eligible for up to an additional $45 million in milestone payments tied to future regulatory and commercial milestones.

In addition, the company said it expects fiscal 2027 revenue to grow more than 500%, driven by demand for its new approach methodologies 3d human cellular models for preclinical safety.

VivoSim Labs shares were up more than 71% in premarket activity Wednesday.