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Olema Pharmaceuticals, Inc. (Nasdaq: OLMA), also known as Olema Oncology, is a clinical-stage biopharmaceutical company committed to the discovery, development, and commercialization of targeted therapies for women's cancers. Headquartered in San Francisco with operations in Cambridge, Massachusetts, Olema is advancing a pipeline of novel therapies aimed at improving treatment options for women living with cancer. The core focus of the company centers on endocrine-driven cancers, nuclear receptors, and mechanisms of acquired resistance.
Olema's lead product candidate, palazestrant (OP-1250), is a proprietary, orally-available small molecule with dual activity as both a complete estrogen receptor (ER) antagonist (CERAN) and a selective ER degrader (SERD). Palazestrant is currently in Phase 3 clinical trials under the OPERA-01 study for patients with recurrent, locally advanced, or metastatic ER-positive (ER+), human epidermal growth factor receptor 2-negative (HER2-) breast cancer. This innovative therapy has demonstrated significant potential by completely blocking ER-driven transcriptional activity in both wild-type and mutant forms of metastatic ER+ breast cancer, showing anti-tumor efficacy, favorable pharmacokinetics, CNS penetration, and combinability with CDK4/6 inhibitors.
In addition to palazestrant, Olema is developing a potent KAT6 inhibitor (OP-3136), which addresses an epigenetic target implicated in breast cancer and other cancers. This compound has shown promise in preclinical studies and is expected to move into clinical trials by the end of 2024.
Olema's financial health remains robust, with cash, cash equivalents, and marketable securities totaling $249.0 million as of March 31, 2024. The company reported a net loss of $31.0 million for the first quarter of 2024, primarily driven by increased spending on research and clinical development activities. However, Olema continues to make significant strides in advancing its clinical programs, supported by experienced scientists, healthcare investors, and partnerships with innovative pharmaceutical companies.
Recent corporate highlights include the initiation of a Phase 1/2 dose-escalation and expansion clinical trial of OP-1250, and the selection of a development candidate for the KAT6 program. Olema's commitment to transforming the standard of care for women's cancers is evident in its ongoing clinical studies and presentations at major oncology conferences such as the ESMO Breast Cancer Annual Congress.
For more information about Olema Pharmaceuticals, visit their website at www.olema.com.
Olema Pharmaceuticals, a clinical-stage biopharmaceutical company focused on targeted therapies for women's cancers, has announced the granting of stock options to three new employees. These options allow the purchase of 118,800 shares of the company's common stock, effective October 1, 2024. The grants were approved by the Compensation Committee and issued under Olema's 2022 Inducement Plan, in compliance with Nasdaq Listing Rule 5635(c)(4).
The stock options have a 10-year term and an exercise price of $12.30 per share, matching the last reported sale price on October 1, 2024. They vest over four years, with 25% vesting on the first anniversary and the remainder in 36 equal monthly installments, subject to continuous employment. This announcement is made in accordance with Nasdaq Listing Rule 5635(c)(4).
Olema Pharmaceuticals (Nasdaq: OLMA), a clinical-stage biopharmaceutical company focused on targeted therapies for women's cancers, has granted stock options to five new employees. The options allow the purchase of 130,600 shares of common stock at an exercise price of $11.35 per share, equal to the last reported sale price on September 3, 2024. These inducement grants, approved under Nasdaq Listing Rule 5635(c)(4), vest over four years with a 10-year term. The options were granted under Olema's 2022 Inducement Plan as part of the company's employee retention and attraction strategy.
Olema Oncology (Nasdaq: OLMA), a clinical-stage biopharmaceutical company specializing in targeted therapies for women's cancers, has announced its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference. The event is scheduled for Wednesday, September 4, 2024, at 7:45 a.m. ET at the Marriott Marquis in New York, NY.
The company's management team will engage in a Fireside Chat format discussion. Investors and interested parties can access a live webcast of the chat through the News & Events section of Olema's investor relations website at ir.olema.com. The webcast will remain archived for at least 30 days after the event, providing an opportunity for those unable to attend live to catch up on the discussion.
Olema Oncology (Nasdaq: OLMA) reported Q2 2024 financial results and provided a corporate update. Key highlights:
- Presented promising interim clinical results for palazestrant-ribociclib combination at ESMO Breast Cancer Congress
- Completed IND-enabling studies for OP-3136, with FDA filing expected in late 2024
- Cash position of $239.1 million as of June 30, 2024
- Net loss of $30.4 million for Q2 2024, up from $20.1 million in Q2 2023
- GAAP R&D expenses increased to $29.1 million from $18.0 million year-over-year
- GAAP G&A expenses rose to $4.4 million from $3.6 million year-over-year
Upcoming milestones include initiating a Phase 1b/2 study of palazestrant with everolimus in Q3 2024 and presenting updated Phase 2 results for palazestrant-ribociclib combination at a future medical meeting.
Olema Oncology (Nasdaq: OLMA), a clinical-stage biopharmaceutical company focused on targeted therapies for women's cancers, has announced the granting of stock options to two new employees. The options allow the purchase of 11,800 shares of the company's common stock, effective August 1, 2024. These awards were approved by the Compensation Committee and granted under Olema's 2022 Inducement Plan.
The stock options have a 10-year term and an exercise price of $16.46 per share, equal to the last reported sale price on August 1, 2024. They vest over four years, with 25% vesting on the first anniversary and the remainder vesting in 36 equal monthly installments, subject to continuous employment. This grant is in accordance with Nasdaq Listing Rule 5635(c)(4) as an inducement for new employees.
Olema Oncology, a clinical-stage biopharmaceutical company, announced the granting of stock options to two new employees to purchase a total of 44,400 shares of its common stock. The stock options, approved by the Compensation Committee, were granted under the company's 2022 Inducement Plan as of July 1, 2024. Vesting occurs over four years, with 25% vesting after one year and the rest vesting monthly over the next three years. The exercise price is set at $11.14 per share, in line with the last reported sale price of the company's stock on July 1, 2024. This announcement complies with Nasdaq Listing Rule 5635(c)(4).
Olema Pharmaceuticals, a clinical-stage biopharmaceutical company specializing in women's cancer therapies, announced the granting of stock options to four new employees. Effective June 3, 2024, these options allow the purchase of 51,600 shares of Olema's common stock. Approved under the 2022 Inducement Plan, the grants are part of the company's strategy to attract new talent, in line with Nasdaq Listing Rule 5635(c)(4). The stock options vest over four years, with an initial 25% vesting after one year and the remainder vesting monthly over three years. The options have a 10-year term and an exercise price of $11.76 per share, matching the stock's last reported sale price on June 3, 2024.
Olema Oncology, a clinical-stage biopharmaceutical company dedicated to developing targeted therapies for women's cancers, announced its participation in two upcoming investor conferences in June 2024. The management team will join the Jefferies Global Healthcare Conference on June 5 at 2:00 p.m. ET in New York and the Goldman Sachs 45th Annual Global Healthcare Conference on June 12 at 11:20 a.m. ET in Miami. Both presentations will be in a fireside chat format. Live webcasts of these sessions will be available on Olema's investor relations website and archived for 30 days.
Olema Oncology announced interim results from a Phase 1b/2 study of palazestrant (OP-1250) combined with ribociclib for ER+/HER2- metastatic breast cancer at the 2024 ESMO Breast Cancer Congress. Across 50 patients, the combination therapy was well tolerated, showing no new safety signals and maintaining an 85% clinical benefit rate (CBR). Pharmacokinetics demonstrated high oral bioavailability and consistent inhibition of estrogen receptors, with no significant drug interaction between palazestrant and ribociclib. The study included patients with advanced cancer, many of whom had received prior treatments. The company will discuss these findings in a webcast on May 15, 2024.
Olema Oncology reported its first quarter 2024 financial results and provided a corporate update, highlighting the completion of enrollment in Phase 1b/2 clinical studies of palazestrant in combination with ribociclib and palbociclib. New clinical data from the palazestrant-ribociclib combination study will be presented at the ESMO Breast Cancer Annual Congress 2024. The company also announced the IND application for OP-3136, a novel KAT6 inhibitor, expected to be filed with the FDA in late 2024. Olema Pharmaceuticals reported a cash position of $249.0 million as of March 31, 2024.
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