Olema reports FY2023 net loss $96.7M, cash $261.8M; palazestrant Phase 3 underway

Olema Pharmaceuticals, Inc.

Cash, equivalents and marketable securities $261.8M as of Dec 31, 2023; net loss $96.7M for FY2023 vs $104.8M in FY2022.
GAAP R&D expenses $86.1M in FY2023 (including $11.8M stock-based comp); non-GAAP R&D $74.4M.
Pivotal Phase 3 OPERA-01 monotherapy trial initiated Q4 2023; top-line results expected in 2026.
Phase 2 study of palazestrant + ribociclib (60 patients) fully enrolled; data at ESMO Breast Cancer May 2024.
KAT6 inhibitor OP-3136 nominated as development candidate; IND filing expected late 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Olema Pharmaceuticals, Inc. reported the fourth quarter ended December 31, 2023 results: net income Net loss was $26.8 million.

Period: the fourth quarter ended December 31, 2023
Net income: Net loss was $26.8 million
Result: reported results

Exact text from the filing

Net loss was $26.8 million and $96.7 million for the quarter and year ended December 31, 2023, respectively

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Olema Pharmaceuticals, Inc. reported the fiscal year ended December 31, 2023 results: net income Net loss was $96.7 million.

Period: the fiscal year ended December 31, 2023
Net income: Net loss was $96.7 million
Result: reported results

Exact text from the filing

Net loss was $26.8 million and $96.7 million for the quarter and year ended December 31, 2023, respectively

View on SEC.gov

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Olema Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-029221

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