Olema reports FY2024 net loss $129.5M; cash $434.1M; palazestrant Phase 3 on track

Olema Pharmaceuticals, Inc.

Net loss Q4 $33.6M, FY $129.5M vs. $26.8M and $96.7M in 2023; R&D expense $124.5M FY.
Cash, equivalents & marketable securities $434.1M at Dec 31, 2024, up from $250M private placement.
Phase 3 OPERA-01 monotherapy top-line data expected 2026; OPERA-02 combo trial with Novartis starts 2025.
Phase 1 trial of OP-3136 initiated in Q4 2024; patients currently enrolling.
Updated mPFS data for palazestrant + ribociclib presented at March 2025 TD Cowen; mature data pending.

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