Olema Pharmaceuticals, Inc.
OLMA evidence brief
What we can confirm
- BioSniper Score:
- 7.0 / 10
- Market Cap:
- $961.2M
- Lead Asset:
- OP-3136 (Phase 1)
What it means
What to watch
Prepared research question
What matters most for OLMA—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · OLMA
Olema Pharmaceuticals, Inc. is a clinical-stage biotech company developing oral small-molecule therapies for ER+/HER2- breast cancer, with lead candidate palazestrant in Phase 3 and next-generation candidate OP-3136 in Phase 1.
Key risk: No revenue, ongoing losses
BioSniper Score
Based on 4 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 3 pipeline candidates · 6 clinical trials for Olema Pharmaceuticals, Inc..
Olema Pharmaceuticals, Inc. is a clinical-stage biotech company developing oral small-molecule therapies for ER+/HER2- breast cancer, with lead candidate palazestrant in Phase 3 and next-generation candidate OP-3136 in Phase 1.
- Lead product candidate palazestrant (OP-1250) is a dual complete estrogen receptor antagonist (CERAN) and selective ER degrader (SERD) in Phase 3 for advanced/metastatic ER+/HER2- breast cancer [pipeline].
- Next-generation candidate OP-3136 is in Phase 1; initial monotherapy data at ASCO 2026 showed tolerability and anti-tumor activity across multiple solid tumor types [sec_mda · as of 2026-08-10].
- Cash & equivalents were $48.6M as of 2026-06-30, with net income of -$63.2M and shareholders' equity of $430.6M [sec].
- Company has not generated any revenue from product sales and expects to continue incurring net operating losses for at least several years [sec_mda · as of 2026-08-10].
- A clinical trial collaboration with Bayer AG was announced in May 2026 to evaluate OP-3136 in combination with other agents [sec_mda · as of 2026-08-10].
What works
- Palazestrant is in Phase 3 with Fast Track regulatory status, indicating potential for expedited development [pipeline].
- OP-3136 monotherapy was well-tolerated with no dose-limiting toxicities and no discontinuations due to treatment-related adverse events in initial Phase 1 data [sec_mda · as of 2026-08-10].
- The company has a clinical collaboration with Bayer AG, which may provide resources and expertise for combination studies [sec_mda · as of 2026-08-10].
What to weigh
- Olema has no revenue from product sales and expects to incur net operating losses for at least several years, with expenses expected to increase [sec_mda · as of 2026-08-10].
- The company will need additional capital to fund operations, and there is no assurance of obtaining regulatory approval or generating meaningful revenue [sec_mda · as of 2026-08-10].
- Palazestrant faces a competitive landscape with 336 competitors listed, including other Phase 2 and Phase 3 programs [pipeline].
From the filings
Quoted directly from source documents.
Palazestrant is a dual CERAN and SERD in Phase 3 for ER+/HER2- breast cancer.
“Dual activity as a complete estrogen receptor (ER) antagonist (CERAN) and selective ER degrader (SERD).”
Pipeline
OP-3136 Phase 1 monotherapy data showed tolerability and anti-tumor activity.
“OP-3136 monotherapy was well-tolerated, with no dose-limiting toxicities observed and no discontinuations due to treatment-related adverse events, and showed evidence of anti-tumor activity across multiple solid tumor types at multiple dose levels.”
SEC MD&A · August 10, 2026
Company expects net operating losses for several years and needs additional capital.
“We expect to continue to incur net operating losses for at least the next several years”
SEC MD&A · August 10, 2026
No revenue from product sales to date.
“To date, we have not generated any revenue from product sales.”
SEC MD&A · May 12, 2026
Risks & what to watch (4)›
Key risks
- No revenue, ongoing losses — No product sales revenue; expects net operating losses for several years with increasing R&D costs [sec_mda · as of 2026-08-10].
- Capital need uncertainty — Will need additional capital; no committed financing lines; funding sources uncertain [sec_mda · as of 2026-05-12].
- Regulatory and commercial risk — No assurance of regulatory approval or commercialization; meaningful revenue uncertain [sec_mda · as of 2026-05-12].
- Intense competition — Palazestrant faces 336 competitors in ER+/HER2- breast cancer space [pipeline].
What to watch
- Initial combination data from OP-3136 Phase 1 study with fulvestrant or palazestrant expected mid-2027 [sec_mda · as of 2026-08-10].
- Progress of palazestrant Phase 3 study for ER+/HER2- advanced/metastatic breast cancer [pipeline].
- Potential additional capital raises or partnership expansions given expected cash needs [sec_mda · as of 2026-08-10].
Sources: Catalysts · Pipeline · SEC MD&A · Generated October 8, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.13 · 0% dilution
Lead: Phase 3
3 candidates
No upcoming catalysts tracked
0 buys · 2 sells (180d)
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
196
Total value held
$1.48B
| Holder | Shares | Value |
|---|---|---|
| fmr llc | 10,386,845 | $154.9M |
| paradigm biocapital advisors lp | 8,020,576 | $119.6M |
| bain capital life sciences investors, llc | 7,473,238 | $111.4M |
| janus henderson group plc | 7,108,488 | $106.0M |
| blackrock, inc. | 5,652,135 | $84.3M |
| bvf inc/il | 5,295,893 | $79.0M |
| siren, l.l.c. | 4,756,949 | $70.9M |
| state street corp | 3,937,831 | $58.7M |
| cormorant asset management, lp | 3,900,000 | $58.1M |
| logos global management lp | 3,208,875 | $47.8M |
Showing top 10 of 196 institutional holders of Olema Pharmaceuticals, Inc.. Open the full 13F history after sign-in.
Short Interest
as of Apr 19, 2026- % of float
- 15.2%
- Days to cover
- 5.2
- Shares short
- 12,265,390
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
OLMA short interestGovernance
Frequently asked questions
What is the AI investment thesis for Olema Pharmaceuticals, Inc.?
Olema Pharmaceuticals, Inc. is a clinical-stage biotech company developing oral small-molecule therapies for ER+/HER2- breast cancer, with lead candidate palazestrant in Phase 3 and next-generation candidate OP-3136 in Phase 1.
What is Olema Pharmaceuticals, Inc.'s lead drug candidate?
Olema Pharmaceuticals, Inc.'s most advanced tracked candidate is OP-3136 (Phase 1) for Advanced or Metastatic ER+ HER2- Breast Cancer (mBC).
Who is the CEO of Olema Pharmaceuticals, Inc.?
Dr. Sean P. Bohen M.D., Ph.D. is the chief executive officer of Olema Pharmaceuticals, Inc. (OLMA).
Where is Olema Pharmaceuticals, Inc. headquartered?
Olema Pharmaceuticals, Inc. (OLMA) is headquartered in San Francisco, CA, United States.
What therapeutic areas does Olema Pharmaceuticals, Inc. focus on?
Olema Pharmaceuticals, Inc. develops therapies across Oncology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.