Olema reports Q1 net loss of $31.0M; cash $249M; enrollment complete in two palazestrant combo studies

Olema Pharmaceuticals, Inc.

2024-Q1 EPS reported -$0.56

Net loss of $31.0M for Q1 2024 vs $28.3M a year ago; cash & equivalents $249.0M.
GAAP R&D expenses $29.9M, including $5.0M milestone to Aurigene for KAT6 program.
Completed enrollment in 60-patient Phase 1b/2 studies of palazestrant + ribociclib and + palbociclib.
New clinical data for palazestrant+ribociclib at ESMO Breast Cancer May 15-17; investor call May 15.
Expect IND for OP-3136 (KAT6 inhibitor) in late 2024; plan Phase 1b/2 palazestrant+everolimus in Q3 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Olema Pharmaceuticals, Inc. reported first quarter ended March 31, 2024 results: net income Net loss for the quarter ended March 31, 2024, was $31.0 million.

Period: first quarter ended March 31, 2024
Net income: Net loss for the quarter ended March 31, 2024, was $31.0 million
Result: reported results

Exact text from the filing

On May 8, 2024, Olema Pharmaceuticals, Inc. (the “Company”) reported its financial results for the quarter ended March 31, 2024.

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Source: SEC EDGAR

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