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Olema Pharmaceuticals, Inc. - OLMA STOCK NEWS

Welcome to our dedicated page for Olema Pharmaceuticals news (Ticker: OLMA), a resource for investors and traders seeking the latest updates and insights on Olema Pharmaceuticals stock.

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.

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Olema Pharmaceuticals CEO to participate in Fireside Chat at Jefferies Healthcare Conference
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Olema Pharmaceuticals will present a poster on OP-1250, a potential treatment for metastatic breast cancer, at the ESMO Breast Cancer Annual Congress 2023.
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Olema Pharmaceuticals, a clinical-stage biopharmaceutical company focused on targeted therapies for women’s cancers, announced the participation of its President and CEO, Sean Bohen, in a panel discussion on “ER+/HER2- Breast Cancer” at the Canaccord Genuity 2023 Horizons in Oncology Virtual Conference. This event is scheduled for April 20, 2023, at 2:00 p.m. ET.

Olema's lead product candidate, OP-1250, is an innovative treatment designed as both a complete estrogen receptor antagonist and a selective estrogen receptor degrader. Currently in a Phase 2 clinical trial, OP-1250 is being assessed as a single agent and in combination with existing therapies for patients with recurrent advanced ER-positive, HER2-negative breast cancer. The FDA has granted it Fast Track designation for treating metastatic cases that have failed prior endocrine therapies.

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Olema Pharmaceuticals, Inc. (Nasdaq: OLMA) announced the grant of stock options to two new employees, totaling 11,800 shares, effective April 3, 2023. The options, part of the 2022 Inducement Plan, vest over four years, with 25% on the first anniversary and the remainder monthly for three years. The exercise price is set at $3.49, reflecting the last reported stock price. This move underscores Olema's commitment to attracting talent as it develops targeted therapies for women’s cancers, particularly the lead candidate, OP-1250, which is in Phase 2 trials for ER-positive breast cancer.

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Olema Pharmaceuticals, Inc. (Nasdaq: OLMA) reported significant progress in its lead program, OP-1250, with over 170 patients treated. The company is set to initiate its first pivotal Phase 3 trial of OP-1250 for metastatic breast cancer in the latter half of 2023. Financially, Olema held $204.4 million in cash as of December 31, 2022, sufficient to fund operations through 2025. However, the company reported a net loss of $26.2 million for Q4 and $104.8 million for the full year, driven by increased R&D spending. Organizational restructuring will reduce the workforce by 25% to focus on OP-1250’s late-stage development.

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FAQ

What is the current stock price of Olema Pharmaceuticals (OLMA)?

The current stock price of Olema Pharmaceuticals (OLMA) is $6.1 as of December 20, 2024.

What is the market cap of Olema Pharmaceuticals (OLMA)?

The market cap of Olema Pharmaceuticals (OLMA) is approximately 432.5M.

What is Olema Pharmaceuticals' primary focus?

Olema Pharmaceuticals focuses on the discovery, development, and commercialization of targeted therapies for women's cancers, particularly endocrine-driven cancers.

What is OP-1250?

OP-1250 (palazestrant) is Olema's lead product candidate, an orally-available small molecule with dual activity as both a complete estrogen receptor antagonist (CERAN) and a selective ER degrader (SERD).

What stage is OP-1250 currently in?

OP-1250 is in Phase 3 clinical trials under the OPERA-01 study, targeting patients with recurrent, locally advanced, or metastatic ER-positive (ER+) and HER2- breast cancer.

What other therapies is Olema developing?

In addition to OP-1250, Olema is developing a potent KAT6 inhibitor (OP-3136) aimed at treating breast cancer and other cancers.

How is Olema's financial health?

As of March 31, 2024, Olema has cash, cash equivalents, and marketable securities amounting to $249.0 million.

Who supports Olema's research and development?

Olema is supported by experienced scientists, healthcare investors, and innovative pharmaceutical companies.

Where is Olema Pharmaceuticals headquartered?

Olema Pharmaceuticals is headquartered in San Francisco, with additional operations in Cambridge, Massachusetts.

What recent achievements has Olema made?

Olema has recently initiated a Phase 1/2 clinical trial of OP-1250 and selected a development candidate for their KAT6 program.

What is the significance of the OPERA-01 study?

The OPERA-01 study is a critical Phase 3 clinical trial evaluating the efficacy of OP-1250 in treating ER+/HER2- breast cancer, moving closer to potentially transforming the standard of care.

Where can I find more information about Olema Pharmaceuticals?

For more information, visit Olema's official website at www.olema.com.

Olema Pharmaceuticals, Inc.

Nasdaq:OLMA

OLMA Rankings

OLMA Stock Data

432.51M
54.53M
3.67%
100.29%
14.94%
Biotechnology
Pharmaceutical Preparations
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United States of America
SAN FRANCISCO