OLMA Olema Pharmaceuticals Inc.

24.17
+0.07  (+0%)
Previous Close 24.1
Open 24.05
52 Week Low 19.41
52 Week High 60.27
Market Cap $970,902,567
Shares 40,169,738
Float 25,334,511
Enterprise Value $616,217,448
Volume 417,075
Av. Daily Volume 251,312
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Latest News

  1. SAN FRANCISCO, July 28, 2021 (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 women's cancers, today announced that Sean P. Bohen, M.D., Ph.D., President and Chief Executive Officer, will present at the Canaccord Genuity 41st Annual Growth Conference, being held virtually on Wednesday, August 11, 2021 at 3:00 p.m. ET (12:00 p.m. PT).

    A live webcast of the presentation may be accessed under the Investors & Media section of Olema's website (www.olema.com) and will be archived for 14 days.

    About Olema Oncology
    Olema Oncology is a clinical-stage biopharmaceutical company focused…

    SAN FRANCISCO, July 28, 2021 (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 women's cancers, today announced that Sean P. Bohen, M.D., Ph.D., President and Chief Executive Officer, will present at the Canaccord Genuity 41st Annual Growth Conference, being held virtually on Wednesday, August 11, 2021 at 3:00 p.m. ET (12:00 p.m. PT).

    A live webcast of the presentation may be accessed under the Investors & Media section of Olema's website (www.olema.com) and will be archived for 14 days.

    About Olema Oncology

    Olema Oncology is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted therapies for women's cancers. Olema's lead product candidate, OP-1250, is an orally-available small molecule with combined activity as both a complete estrogen receptor (ER) antagonist (CERAN) and a selective ER degrader (SERD). It is currently being evaluated as a single agent in an ongoing Phase 1/2 clinical trial in patients with recurrent, locally advanced or metastatic ER-positive (ER+), human epidermal growth factor receptor 2-negative (HER2-) breast cancer. Olema is headquartered in San Francisco.

    Contact:

    Eva Stroynowski

    Vice President, Communications and Investor Relations



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  2. SAN FRANCISCO, May 18, 2021 (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 women's cancers, today announced that Sean P. Bohen, M.D., Ph.D., President and Chief Executive Officer, will participate in a virtual fireside chat at the Jefferies 2021 Virtual Healthcare Conference on Tuesday, June 1, 2021 at 4:30 p.m. ET (1:30 p.m. PT).

    A live webcast of the presentation may be accessed under the Investors & Media section of Olema's website (www.olema.com) and will be archived for 14 days.

    About Olema Oncology
    Olema Oncology is a clinical-stage biopharmaceutical company focused…

    SAN FRANCISCO, May 18, 2021 (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 women's cancers, today announced that Sean P. Bohen, M.D., Ph.D., President and Chief Executive Officer, will participate in a virtual fireside chat at the Jefferies 2021 Virtual Healthcare Conference on Tuesday, June 1, 2021 at 4:30 p.m. ET (1:30 p.m. PT).

    A live webcast of the presentation may be accessed under the Investors & Media section of Olema's website (www.olema.com) and will be archived for 14 days.

    About Olema Oncology

    Olema Oncology is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted therapies for women's cancers. Olema's lead product candidate, OP-1250, is an orally-available small molecule with combined activity as both a complete estrogen receptor (ER) antagonist (CERAN) and a selective ER degrader (SERD). It is currently being evaluated as a single agent in an ongoing Phase 1/2 clinical trial in patients with recurrent, locally advanced or metastatic ER-positive (ER+), human epidermal growth factor receptor 2-negative (HER2-) breast cancer. Olema is headquartered in San Francisco.

    Contact:

    Eva Stroynowski

    Vice President, Communications and Investor Relations



    617-721-8194



    Primary Logo

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    • OP-1250 continues to advance in dose-escalation stage of Phase 1/2 clinical trial in patients with metastatic, ER+ / HER2- breast cancer; Initial data anticipated in 2H 2021
    • Cash, cash equivalents, and marketable securities of $327.0 million as of March 31, 2021 sufficient to fund operations through the end of 2023

    SAN FRANCISCO, May 11, 2021 (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 women's cancers, today provided an update on recent company developments and reported first quarter financial results for the period ended March 31, 2021.

    "The first quarter of 2021 was…

    • OP-1250 continues to advance in dose-escalation stage of Phase 1/2 clinical trial in patients with metastatic, ER+ / HER2- breast cancer; Initial data anticipated in 2H 2021
    • Cash, cash equivalents, and marketable securities of $327.0 million as of March 31, 2021 sufficient to fund operations through the end of 2023

    SAN FRANCISCO, May 11, 2021 (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 women's cancers, today provided an update on recent company developments and reported first quarter financial results for the period ended March 31, 2021.

    "The first quarter of 2021 was very productive for Olema as we continued to advance our wholly-owned lead candidate, OP-1250, a complete estrogen receptor (ER) antagonist (CERAN), through dose escalation in the ongoing Phase 1/2 clinical trial in ER+ / HER2- breast cancer, and made substantial progress in building our organization," said Sean P. Bohen, M.D., Ph.D., President and Chief Executive Officer of Olema Oncology. "Looking ahead, we remain on track to share initial clinical data at a medical meeting later this year and advance OP-1250 into Phase 2 monotherapy expansion. We also plan to initiate a Phase 1b study to evaluate OP-1250 in combination with a CDK4/6 inhibitor in the second half of 2021. We are in a strong financial position to execute on our strategy and are committed to working toward advancing the standard of care for people living with breast cancer."

    Recent Corporate Highlights

    • Presented nonclinical data on OP-1250 in a late-breaking poster session at the American Association for Cancer Research (AACR) Annual Meeting, held virtually from April 10-15, 2021. Data presented showed that 10 mg/kg OP-1250, a complete estrogen receptor (ER) antagonist (CERAN), was superior to tamoxifen, fulvestrant and ovariectomy in shrinking mutant ESR1-Y537S tumors in an intracranial model of ER+ breast cancer brain metastasis.
    • Appointed Yi Larson to Olema's Board of Directors in April 2021. Ms. Larson currently serves as Chief Financial Officer at LianBio and brings significant biotech operational leadership and global healthcare banking expertise.
    • Strengthened Olema's research and discovery capabilities with the opening of new laboratory facilities in San Francisco, CA.

    Financial Highlights

    • Cash, cash equivalents and marketable securities as of March 31, 2021 were $327.0 million. Olema anticipates that this balance of cash will be sufficient to fund operations through the end of 2023.
    • Net loss for the quarter ended March 31, 2021 was $15.3 million, compared to $1.7 million for the same period of the prior year.
    • Research and development (R&D) expenses were $10.7 million for the quarter ended March 31, 2021, compared to $0.8 million for the same period of the prior year. The increase in R&D expenses was primarily related to the increase in nonclinical development activities, execution of the ongoing Phase 1/2 clinical trial of OP-1250 and higher non-cash stock-based compensation expenses.
    • General and administrative (G&A) expenses were $4.8 million for the quarter ended March 31, 2021, compared to $0.2 million for the same period of the prior year. The increase in G&A expenses was primarily related to an increase in personnel, public company-related expenses, other corporate costs and higher non-cash stock-based compensation expenses.

    About Olema Oncology

    Olema Oncology is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted therapies for women's cancers. Olema's lead product candidate, OP-1250, is an orally-available small molecule with combined activity as both a complete estrogen receptor (ER) antagonist (CERAN) and a selective ER degrader (SERD). It is currently being evaluated as a single agent in an ongoing Phase 1/2 clinical trial in patients with recurrent, locally advanced or metastatic ER-positive (ER+), human epidermal growth factor receptor 2-negative (HER2-) breast cancer. Olema is headquartered in San Francisco.

    Forward Looking Statements

    Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Words such as "anticipate," "expect," "intend," "will," "may," "goal," "estimate," "potential" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These statements include those related to the development of OP-1250, including timelines related to data presentation, trial initiation and advancement, and enrollment, as well as the sufficiency of our financial resources. Because such statements deal with future events and are based on Olema's current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Olema could differ materially from those described in or implied by the statements in this press release. These forward-looking statements are subject to risks and uncertainties, including, without limitation, the risk that Olema's ongoing or future clinical studies in humans may show that OP-1250 is not a tolerable and effective treatment for breast cancer and other risks and uncertainties affecting Olema, as well as those discussed in the section titled "Risk Factors" in Olema's Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 to be filed on May 11, 2021 and future filings and reports that Olema makes from time to time with the United States Securities and Exchange Commission. Except as required by law, Olema assumes no obligation to update these forward-looking statements or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

     
    Olema Pharmaceuticals, Inc.
    Condensed Consolidated Balance Sheets Data
    (in thousands)
     March 31, December 31, 
     2021

    2020

     (Unaudited)(Audited)
    Cash, cash equivalents and marketable securities$326,968 $338,549 
    Total assets $ 331,301 $ 342,722 
    Total liabilities$5,277 $4,585 
    Total stockholders' equity$326,024 $338,137 
    Total liabilities and stockholders' equity$ 331,301 $ 342,722 
       



    Olema Pharmaceuticals, Inc.
    Condensed consolidated statements of operations and comprehensive loss
    (In thousands, except share and per share data)
       
       
     Three Months Ended March 31,
     20212020
     (unaudited)
       
    Operating expenses:  
    Research and development$10,692 $795 
    General and administrative 4,758  248 
    Total operating expenses (1) 15,450  1,043 
    Loss from operations (15,450) (1,043)
    Other (expense) income:  
    Interest income 111  3 
    Interest expense -  (653)
    Total other income (expense), net 111  (650)
    Net loss$(15,339)$(1,693)
    Net loss per share, basic and diluted$(0.39)$(0.65)
    Weighted average shares used to compute net loss per share, basic and diluted 39,325,793  2,593,316 
       
    (1) Total operating expenses includes the following non-cash stock-based compensation expenses:
       
     Three Months Ended March 31,
     20212020
     (unaudited)
    Research and development expenses$1,734 $- 
    General and administrative 1,474  - 
     $3,208 $- 
       



    Contact
    :

    Eva Stroynowski

    Vice President, Communications and Investor Relations



    617-721-8194



    Primary Logo

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  3. SAN FRANCISCO, April 07, 2021 (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 women's cancers, today announced Sean P. Bohen, M.D., Ph.D., President and Chief Executive Officer, will participate in a fireside chat at the Canaccord Genuity Horizons in Oncology Virtual Conference on Thursday, April 15 at 12 p.m. ET. The fireside chat will be moderated by Arlinda Lee, Ph.D., Managing Director, Biotechnology Analyst at Canaccord Genuity.

    A live webcast of the event will be accessible in the Investors & Media section of Olema's website. A replay of the webcast will be available…

    SAN FRANCISCO, April 07, 2021 (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 women's cancers, today announced Sean P. Bohen, M.D., Ph.D., President and Chief Executive Officer, will participate in a fireside chat at the Canaccord Genuity Horizons in Oncology Virtual Conference on Thursday, April 15 at 12 p.m. ET. The fireside chat will be moderated by Arlinda Lee, Ph.D., Managing Director, Biotechnology Analyst at Canaccord Genuity.

    A live webcast of the event will be accessible in the Investors & Media section of Olema's website. A replay of the webcast will be available.

    About Olema Oncology

    Olema Oncology is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted therapies for women's cancers. Olema's lead product candidate, OP-1250, is an orally available small molecule with combined activity as both a complete estrogen receptor (ER) antagonist (CERAN) and a selective ER degrader (SERD). It is currently being evaluated as a single agent in an ongoing Phase 1/2 clinical trial in patients with recurrent, locally advanced or metastatic ER-positive (ER+), human epidermal growth factor receptor 2-negative (HER2-) breast cancer. Olema is headquartered in San Francisco.

    Investor Contact:

    Media Contact:

    Sheryl Seapy, Real Chemistry



    949-903-4750



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    • Ms. Larson Brings Significant Biotech Operational Leadership and Global Healthcare Banking Expertise to Olema as the Company Continues to Advance Its Pipeline
    • Longstanding Olema Director Dr. Frank McCormick to Transition from Board of Directors and Return to His Position as Chairman of Olema's Scientific Advisory Board

    SAN FRANCISCO, April 06, 2021 (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 women's cancers, today announced the appointment of Yi Larson to the company's Board of Directors, and the transition of longstanding Olema director Frank McCormick, Ph.D., F.R.S…

    • Ms. Larson Brings Significant Biotech Operational Leadership and Global Healthcare Banking Expertise to Olema as the Company Continues to Advance Its Pipeline
    • Longstanding Olema Director Dr. Frank McCormick to Transition from Board of Directors and Return to His Position as Chairman of Olema's Scientific Advisory Board

    SAN FRANCISCO, April 06, 2021 (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 women's cancers, today announced the appointment of Yi Larson to the company's Board of Directors, and the transition of longstanding Olema director Frank McCormick, Ph.D., F.R.S., D.Sc., to Chair of Olema's Scientific Advisory Board.

    "Yi joins Olema at a pivotal time, as we advance the clinical development of our lead program, OP-1250, in breast cancer, and expand our research and development operations," said Sean P. Bohen, M.D., Ph.D., President and Chief Executive Officer of Olema. "Her demonstrated global operational expertise as Chief Financial Officer of Turning Point Therapeutics, coupled with her extensive capital markets and healthcare banking experience, position her well to provide valuable insights and experience to the Board. We also are fortunate to have Dr. McCormick continue to advise the company as Chair of our Scientific Advisory Board. Given his significant track record in starting and advising numerous successful oncology companies, and his experience on our Board of Directors since 2014, his support and guidance have been immeasurable and have enabled us to move into the clinic with OP-1250."

    "I am impressed with Olema's science on the estrogen receptor and the potential of its pipeline to improve the lives of women living with breast cancer, and I could not be more excited to join Olema's Board of Directors as it advances its clinical trials of OP-1250," said Ms. Larson.

    "On behalf of Olema and the Board of Directors, I welcome Yi to the Board and look forward to working with her as we execute on the company's mission," said Ian Clark, Chairman of the Olema Board of Directors. "I am also pleased that Dr. McCormick will continue to advise Olema and our scientific and clinical teams on strategies to advance our pipeline. We thank him for his significant contributions to the company as a director."

    Ms. Larson most recently served as Chief Financial Officer of Turning Point Therapeutics, where she oversaw a period of tremendous growth. Effective May 1, 2021, she will become Chief Financial Officer of LianBio, a private biotech company focusing on precision and innovative therapeutics with operations in the United States and China. Prior to Turning Point, Ms. Larson was a Managing Director of Healthcare Investment Banking at Goldman Sachs, where she successfully executed over 50 transactions, including approximately $70 billion in merger and acquisition activities and $30 billion in financings. She earned an MBA, concentrated in finance, from The Wharton School at the University of Pennsylvania, and a master's degree in electrical engineering and computer science and a bachelor's degree in electrical engineering from the Massachusetts Institute of Technology.

    About Olema Oncology

    Olema Oncology is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted therapies for women's cancers. Olema's lead product candidate, OP-1250, is an orally available small molecule with combined activity as both a complete estrogen receptor (ER) antagonist (CERAN) and a selective ER degrader (SERD). It is currently being evaluated as a single agent in an ongoing Phase 1/2 clinical trial in patients with recurrent, locally advanced or metastatic ER-positive (ER+), human epidermal growth factor receptor 2-negative (HER2-) breast cancer. Olema is headquartered in San Francisco.

    Forward Looking Statements

    Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Words such as "anticipate," "expect," "intend," "will," "may," "goal," "estimate," "potential" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These statements include those related to the development of OP-1250, advancement of Olema's pipeline and expansion of research and development operations. Because such statements deal with future events and are based on Olema's current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Olema could differ materially from those described in or implied by the statements in this press release. These forward-looking statements are subject to risks and uncertainties, including, without limitation, the risk that Olema's ongoing or future clinical studies in humans may show that OP-1250 is not a tolerable and effective treatment for breast cancer and other risks and uncertainties affecting Olema, as well as those discussed in the section titled "Risk Factors" in Olema's Annual Report on Form 10-K for the year ended December 31, 2020, filed on March 17, 2021, and future filings and reports that Olema makes from time to time with the United States Securities and Exchange Commission. Except as required by law, Olema assumes no obligation to update these forward-looking statements or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

    Investor Contact:

     

    Media Contact:

    Sheryl Seapy, Real Chemistry

     

    949-903-4750



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