Bristol Myers Squibb said on Monday a lower dose of its ​experimental drug admilparant slowed the progression of a serious lung-scarring disease, putting it on track ‌to be a first-of-its-kind treatment if approved.

The late-stage trial enrolled 1,255 patients with idiopathic pulmonary fibrosis and tested two oral doses of admilparant, which targets ​a pathway involved in lung scarring by blocking the LPA1 protein ​receptor.

The New Jersey-based Bristol Myers said a 60 mg twice-daily dose ⁠of admilparant significantly outperformed placebo in preserving lung function after 52 ​weeks. But the higher 120 mg dose missed the study’s main goal.

Analysts said ​they had tempered expectations for the results, citing safety concerns, and called for complete data to assess the commercial opportunity for the drug.

But William Blair analyst Matt ​Phipps said the success of the 60 mg dose could be ​a blockbuster opportunity, bringing in sales of about $1.3 billion in 2032.

Admilparant would become ‌the ⁠first LPA1 inhibitor to treat IPF if it gets regulatory approval. Current IPF therapies include Boehringer Ingelheim’s Ofev and Jascayd, as well as Roche’s anti-fibrotic drug Esbriet.

Idiopathic pulmonary fibrosis is a progressive lung disease which ​causes irreversible scarring ​that thickens ⁠and stiffens lung tissue, gradually impairing breathing and lung function.

RBC’s Trung Huynh said Bristol Myers is well-positioned for the ​rest of the year, though investor focus will shift ​to trial results ⁠for its atrial fibrillation drug, milvexian, and its therapy for Alzheimer’s-related psychosis, Cobenfy.

The company on Monday also reported positive trial results for its radiopharmaceutical cancer ⁠drug, RYZ101.

Admilparant ​was well-tolerated at both doses, with low discontinuation rates ​comparable with placebo, the company said.

Results from a separate late-stage study to treat progressive pulmonary fibrosis are expected ​in early 2027.