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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 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.
Olema Pharmaceuticals, Inc. announces new clinical data for Palazestrant in combination with Ribociclib to be presented at the 2024 ESMO Breast Cancer Annual Congress. The company will share information from its ongoing Phase 1b/2 clinical study in a poster presentation. The event will take place in Berlin, Germany, on May 15-17, 2024.
Additionally, Olema will host an investor conference call on May 15, 2024, to discuss the data further. The company focuses on developing targeted therapies for women's cancers, marking a significant milestone in its research and development efforts.
Olema Pharmaceuticals, Inc. announced the granting of stock options to new employees under the Company's 2022 Inducement Plan. A total of 187,400 shares of common stock were granted to six employees, with options vesting over four years. The exercise price is set at $10.40 per share, with the options subject to Nasdaq Listing Rule 5635(c)(4).
Olema Pharmaceuticals, Inc. (Nasdaq: OLMA) will participate in various investor conferences in May, including the BofA Securities Health Care Conference, H.C. Wainwright BioConnect Investor Conference, UBS Spring Biotech Symposium, and TD Cowen Oncology Innovation Summit. The management team will engage in presentations, fireside chats, and one-on-one meetings to discuss the company's targeted therapies for women's cancers.
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