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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, Inc. (Nasdaq: OLMA) announced the granting of stock options for 68,700 shares to three new employees, effective May 2, 2022. The options were approved by the Compensation Committee and are part of the Company's 2022 Inducement Plan. They vest over four years, with an exercise price set at $2.68 per share, equal to the stock's last reported sale price. Olema focuses on targeted therapies for women’s cancers, with its lead candidate, OP-1250, currently in clinical trials for treating ER-positive breast cancer.
Olema Pharmaceuticals (Nasdaq: OLMA) has granted a stock option to a new employee for 20,000 shares of its common stock as part of the 2022 Inducement Plan. The option, effective April 1, 2022, vests over four years, with 25% vesting after the first year and the remaining 75% in monthly installments. The exercise price is set at $4.10 per share, reflecting the last reported sale price on the grant date. This move aligns with Nasdaq Listing Rule 5635(c)(4) aimed at attracting talent.
Olema Pharmaceuticals announced that its CEO, Sean P. Bohen, will participate in a virtual fireside chat at the Canaccord Genuity Horizons in Oncology Conference on April 14, 2022, at 11:30 a.m. ET. The event will be accessible via a live webcast on Olema’s website and archived for 14 days. Olema is focused on targeted therapies for women’s cancers, with its lead candidate, OP-1250, currently in clinical trials for ER-positive breast cancer.
Olema Pharmaceuticals (Nasdaq: OLMA) announces plans to present two posters on nonclinical data for OP-1250 at the American Association for Cancer Research (AACR) Annual Meeting from April 8-13, 2022. The first presentation focuses on transcriptional changes in ER+ breast cancer cell lines in response to OP-1250, while the second highlights its efficacy in preventing tumor spread in metastatic ERα+ breast cancer models. OP-1250 is currently undergoing clinical trials in patients with advanced ER-positive breast cancer.
Olema Pharmaceuticals, Inc. (Nasdaq: OLMA) reported significant progress in clinical studies for OP-1250, targeting ER+ / HER2- breast cancer. Phase 1a data showed favorable pharmacokinetics and encouraging anti-tumor activity in heavily pretreated patients. Enrollment for Phase 1b expansion is on track for completion in Q1 2022, with a Phase 2 study set to begin in H1 2022. The company's financial position is strong, with $287.3 million in cash, sufficient to fund operations into 2024, despite a net loss of $71.1 million for 2021, reflecting increased R&D and G&A expenses.
Olema Pharmaceuticals (Nasdaq: OLMA) announced that CEO Sean P. Bohen will present a corporate overview at the Cowen 42nd Annual Health Care Conference on March 7, 2022, at 2:50 p.m. ET. The presentation can be accessed via a live webcast on Olema's website and will be archived for 14 days. Olema Oncology focuses on developing targeted therapies for women’s cancers, with their lead product candidate, OP-1250, currently in Phase 1/2 trials for treating ER-positive breast cancer.
Olema Pharmaceuticals, Inc. (NASDAQ: OLMA) announced the grant of stock options for a total of 270,000 shares to two new employees, effective February 1, 2022. Dr. Naseem Zojwalla received an option for 250,000 shares as the new Chief Medical Officer, while another employee got 20,000 shares. These stock options are part of Olema's 2022 Inducement Plan, vesting over four years with the last reported share price at $7.02. This initiative aligns with Nasdaq Listing Rule 5635(c)(4) to incentivize key hires.
Olema Oncology has appointed Dr. Naseem Zojwalla as Chief Medical Officer, succeeding Dr. Pamela Klein, who transitions to a senior advisory role. With over 15 years of oncology experience, Dr. Zojwalla will focus on advancing OP-1250, a promising therapeutic candidate for metastatic breast cancer, into Phase 2 trials. Dr. Bohen expressed confidence in Dr. Zojwalla's leadership during this critical phase, highlighting the significant potential of OP-1250 as a treatment option for women with breast cancer. The company aims to reshape standard care through innovative therapies.
Olema Pharmaceuticals, Inc. (Nasdaq: OLMA) will present at the 40th Annual J.P. Morgan Healthcare Conference on January 11, 2022, at 5:15 p.m. ET. The presentation will be led by President and CEO Sean P. Bohen, M.D., Ph.D. A live webcast can be accessed on Olema's website and will remain available for 14 days. Olema is a clinical-stage biopharmaceutical company focused on developing targeted therapies for women’s cancers, with its lead candidate, OP-1250, currently in a Phase 1/2 clinical trial for ER-positive breast cancer.
Olema Pharmaceuticals (Nasdaq: OLMA) reported promising results from the Phase 1 dose-escalation study of OP-1250, a novel treatment for metastatic breast cancer. Key findings included an overall response rate of 17% and a clinical benefit rate of 46% in patients on a recommended Phase 2 dose. Three partial responses were noted, with target lesions reduced by up to 100%. OP-1250 demonstrated favorable pharmacokinetics and tolerability. The company plans to advance into Phase 2 studies and combination trials in early 2022, bolstering its position in women’s cancer treatment.
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