Olema Pharma Q1 net loss $28.3M, cash $186M; Phase 3 trial of OP-1250 planned H2 2023

Olema Pharmaceuticals, Inc.

2023-Q1 EPS reported -$0.69

Cash, cash equivalents and marketable securities of $186.0M as of March 31, 2023, expected to fund operations into 2025.
Net loss for Q1 2023 was $28.3M, compared to $23.0M in Q1 2022, with R&D expenses rising to $22.8M from $16.0M.
Company plans to initiate pivotal Phase 3 monotherapy trial of OP-1250 in second-line metastatic breast cancer in H2 2023.
Interim Phase 2 results of OP-1250 plus palbociclib to be presented at ESMO Breast Cancer on May 12, 2023.
Non-GAAP R&D expenses were $19.7M (excl. $3.1M SBC) vs $12.9M YoY; includes $2.8M restructuring charge.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Olema Pharmaceuticals, Inc. reported first quarter ended March 31, 2023 results: net income $28.3 million.

Period: first quarter ended March 31, 2023
Net income: $28.3 million
Result: reported results

Exact text from the filing

Net loss for the quarter ended March 31, 2023, was $28.3 million

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Source: SEC EDGAR

accession 0001558370-23-008811

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