Olema Q3 2021 Earnings Report

Olema Oncology reported third quarter financial results and provided a corporate update.

Key Takeaways

Olema Oncology reported a net loss of $17.713 million for the third quarter of 2021. The company's cash, cash equivalents, and marketable securities totaled $306 million as of September 30, 2021, which is expected to fund operations through the end of 2023. The company is advancing OP-1250 through clinical trials.

Completed dose-escalation stage of Phase 1/2 clinical trial of OP-1250 in patients with metastatic, ER+ / HER2- breast cancer.

Interim safety, tolerability, pharmacokinetic and initial efficacy data from Phase 1 dose escalation to be presented at 2021 San Antonio Breast Cancer Symposium.

Phase 1b dose expansion to initiate by year-end 2021; Phase 2 to initiate in Q1 2022.

First planned clinical study in combination with CDK4/6 inhibitor to initiate in Q1 2022.

EPS

-$0.45

Previous year: -$3.69