Olema Q2 net loss $30.4M; cash $239.1M; palazestrant combo shows 85% CBR

Olema Pharmaceuticals, Inc.

2024-Q2 EPS reported -$1.10

Net loss for Q2 2024 was $30.4M vs $20.1M in Q2 2023, driven by increased R&D spending on late-stage trials.
Cash, cash equivalents and marketable securities of $239.1M as of June 30, 2024.
Interim Phase 1b/2 data for palazestrant + ribociclib showed 85% clinical benefit rate in 13 evaluable patients.
IND for KAT6 inhibitor OP-3136 expected to be filed with FDA in late 2024; pre-clinical data in Q4.
Plan to initiate Phase 1b/2 study of palazestrant + everolimus in Q3 2024.

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