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Mar 31, 2021
Olema Q1 2021 Earnings Report
Olema Oncology reported first quarter 2021 financial results and provided a corporate update.
Key Takeaways
Olema Oncology reported a net loss of $15.3 million for the first quarter of 2021. The company's cash, cash equivalents, and marketable securities totaled $327.0 million as of March 31, 2021, sufficient to fund operations through the end of 2023. OP-1250 continues to advance in dose-escalation stage of Phase 1/2 clinical trial.
OP-1250 advanced in Phase 1/2 clinical trial for metastatic, ER+ / HER2- breast cancer, with initial data expected in 2H 2021.
Cash, cash equivalents, and marketable securities totaled $327.0 million as of March 31, 2021, 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.
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.
Historical Earnings Impact
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