Olema Pharmaceuticals Inc.
(NASDAQ:OLMA) shares are trading lower on Tuesday as the company completed enrollment in its pivotal Phase 3 OPERA-01 trial, with top-line data now expected in the first quarter of 2027.
Additionally, the company presented initial Phase 1 clinical data for OP-3136 at the 2026 ASCO Annual Meeting, showcasing its ongoing commitment to developing targeted therapies for women's cancers.
The company reported cash, cash equivalents, and marketable securities as of June 30, 2026, of $461.1 million.
Net loss for the second quarter was $63.2 million, as compared to $43.8 million a year ago, related to higher spending on clinical development and research and corporate-related activities related to late-stage clinical trials for palazestrant and the advancement of OP-3136.
