Olema Q1 2023 Earnings Report

Olema Oncology reported financial results for Q1 2023 and provided a corporate update.

Key Takeaways

Olema Oncology reported a net loss of $28.3 million for the first quarter of 2023. As of March 31, 2023, cash, cash equivalents and marketable securities totaled $186.0 million, expected to fund operations into 2025.

First pivotal Phase 3 monotherapy clinical trial of OP-1250 planned for the second half of 2023.

Interim Phase 2 clinical results of OP-1250 in combination with palbociclib to be presented at the 2023 ESMO Breast Cancer Annual Congress on May 12, 2023.

Phase 2 monotherapy and initial ribociclib combination clinical results expected to be presented in the second half of 2023.

Cash, cash equivalents and marketable securities of $186.0 million as of March 31, 2023.

EPS

-$0.7

Previous year: -$0.58