Olema Q3 net loss $42.2M; cash $329M; initiates OPERA-02 Phase 3; Pfizer deal

Olema Pharmaceuticals, Inc.

2025-Q3 EPS reported -$1.36 vs consensus -$0.49 ▼ miss (-175.7%)

Net loss $42.2M for Q3 2025 vs $34.6M Q3 2024; cash, equivalents and securities $329.0M.
Initiated OPERA-02 Phase 3 trial of palazestrant + ribociclib in frontline ER+/HER2- MBC.
Clinical trial agreement with Pfizer to evaluate palazestrant + atirmociclib in Phase 1b/2.
Phase 1/2 of OP-3136 (KAT6 inhibitor) expanded into combos; initial results expected mid-2026.
Top-line data from OPERA-01 monotherapy Phase 3 expected in second half of 2026.

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