Olema Oncology Reports Third Quarter 2026 Financial and Operating Results
Key Highlights
- ➤$413.8 million in cash, cash equivalents, and marketable securities at September 30
- ➤OPERA-01 Phase 3 top-line data expected in the first quarter of 2027
- ➤OPERA-02 Phase 3 enrollment continues accelerating in first-line metastatic breast cancer
- ➤Third-quarter net loss widened to $73.6 million from $42.2 million
- ➤GAAP R&D expenses rose to $67.6 million, driven by late-stage trial expansion
Expert Statements
Sean P. Bohen, President and Chief Executive Officer of Olema Oncology
“As we approach top-line data from our pivotal Phase 3 OPERA-01 trial in the first quarter of 2027, we remain confident in palazestrant’s potential to emerge as a differentiated endocrine therapy in second- and third-line metastatic breast cancer.”
Sean P. Bohen, President and Chief Executive Officer of Olema Oncology
“Turning to our pivotal Phase 3 OPERA-02 trial in first-line metastatic breast cancer, momentum continues to build. Enrollment is accelerating, investigator interest is strong, and patients with frontline disease continue to require better therapeutic options.”
Sean P. Bohen, President and Chief Executive Officer of Olema Oncology
“We believe that palazestrant, in combination with ribociclib, is well positioned to become the new standard of care in this setting.”
Sean P. Bohen, President and Chief Executive Officer of Olema Oncology
“With its dual mechanism of action as a complete estrogen receptor antagonist and selective estrogen receptor degrader, optimal pharmacokinetic properties, encouraging clinical profile demonstrated to date, and potential for use both as a monotherapy and in combination with other agents, we believe palazestrant is uniquely positioned to transform the metastatic breast cancer treatment paradigm.”
Sean P. Bohen, President and Chief Executive Officer of Olema Oncology
“Beyond preparing for the potential approval and commercialization of palazestrant, we remain encouraged by the potential of OP-3136, our novel KAT6 inhibitor, as it advances through clinical development across multiple indications and treatment combinations.”
Sean P. Bohen, President and Chief Executive Officer of Olema Oncology
“We were also pleased to welcome Jason O’Byrne as Chief Financial Officer this quarter. His extensive experience in corporate strategy, capital markets, and financial management and operations will be invaluable as we prepare for key catalysts in 2027 and continue our transformation into a fully integrated oncology company.”
* On track to announce top-line data from the pivotal Phase 3 OPERA-01 trial in the first quarter of 2027 * Continued strong enrollment in the pivotal Phase 3 OPERA-02 trial and the Phase 1b/2 study of OP-3136 * Appointed Jason O’Byrne, MBA, as Chief Financial Officer * Ended the third quarter with $413.8 million in cash, cash equivalents, and marketable securities SAN FRANCISCO, Nov. 10, 2026 (GLOBE NEWSWIRE) -- Olema Pharmaceuticals, Inc. (“Olema” or “Olema Oncology”, Nasdaq: OLMA), a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of targeted therapies for breast cancer and beyond, today reported financial and operating results for the third quarter ended September 30, 2026.
“As we approach top-line data from our pivotal Phase 3 OPERA-01 trial in the first quarter of 2027, we remain confident in palazestrant’s potential to emerge as a differentiated endocrine therapy in second- and third-line metastatic breast cancer,” said Sean P. Bohen, M.D., Ph.D., President and Chief Executive Officer of Olema Oncology. “Turning to our pivotal Phase 3 OPERA-02 trial in first-line metastatic breast cancer, momentum continues to build. Enrollment is accelerating, investigator interest is strong, and patients with frontline disease continue to require better therapeutic options. We believe that palazestrant, in combination with ribociclib, is well positioned to become the new standard of care in this setting. With its dual mechanism of action as a complete estrogen receptor antagonist and selective estrogen receptor degrader, optimal pharmacokinetic properties, encouraging clinical profile demonstrated to date, and potential for use both as a monotherapy and in combination with other agents, we believe palazestrant is uniquely positioned to transform the metastatic breast cancer treatment paradigm.”
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