Bristol Myers Squibb Co.'s investigational treatments for a rare endocrine cancer and a lethal lung condition delivered successful outcomes in late-stage trials, strengthening the pharmaceutical company's emerging product pipeline.

Bristol Myers shares climbed as much as 3.89% in premarket trading.

Patients suffering from idiopathic pulmonary fibrosis, a chronic illness that causes lung scarring and impairs oxygen transfer into the bloodstream, experienced notable breathing improvements after receiving a lower dose of the company's oral medication known as admilparant. This data came from the third and final phase of testing necessary prior to a new drug approval.

An interim analysis of a late-stage trial in patients with gastroenteropancreatic neuroendocrine tumors, a rare cancer type originating in the endocrine cells of the gastrointestinal tract or pancreas, revealed that the company's RYZ101 substantially reduced disease progression.