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Jun 30, 2022
Olema Q2 2022 Earnings Report
Olema Oncology reported financial results for the second quarter of 2022 and provided a corporate update.
Key Takeaways
Olema Oncology reported a net loss of $32.9 million for the quarter ended June 30, 2022. As of June 30, 2022, the company's cash, cash equivalents, and marketable securities totaled $240.7 million, which is expected to fund operations into the second half of 2024. The company received Fast Track designation from the FDA for OP-1250 for ER+/HER2- metastatic breast cancer treatment and is progressing with OP-1250 clinical development.
Received Fast Track designation from the U.S. FDA for OP-1250 for the treatment of ER+/HER2- metastatic breast cancer.
Reported progress across OP-1250 clinical development program, including selection of the recommended Phase 2 dose and initiation of Phase 2 monotherapy enrollment.
Company expects to present updated monotherapy and initial combination data in Q4 2022.
Cash, cash equivalents and marketable securities totaled $240.7 million as of June 30, 2022, sufficient to support execution of clinical, research and operational goals into the second half of 2024.
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