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Dec 31, 2020
Olema Q4 2020 Earnings Report
Olema Pharmaceuticals reported financial results for Q4 and full year 2020, and provided a business update
Key Takeaways
Olema Pharmaceuticals reported a net loss of $10.1 million for the fourth quarter ended December 31, 2020, compared to a net loss of $1.0 million for the fourth quarter ended December 31, 2019. Cash and cash equivalents as of December 31, 2020 were $338.5 million.
Advanced OP-1250 in metastatic, ER+ / HER2- breast cancer Phase 1/2 clinical trial
Announced clinical trial agreements with Novartis and Pfizer to explore combination of OP-1250 with CDK4/6 inhibitors and PI3Kα inhibitor
Raised approximately $382 million in gross proceeds across Series B, Series C and Initial Public Offering financings
Cash and cash equivalents of $338.5 million as of December 31, 2020 will be sufficient to fund operations through 2022