Olema Pharmaceuticals, Inc.
OLMA evidence brief
What we can confirm
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 biopharmaceutical company focused on developing novel therapies for women's cancers, primarily targeting ER+/HER2- breast cancer with its lead candidate palazestrant and an early-stage program OP-3136.
Key risk: No approved products or revenue
BioSniper Score
Based on 6 of 6 signals
Market Cap
$898.6M
Cash Runway
29.0 moLead Asset
OP-3136 (Phase 1)Next Catalyst
Phase3_Topline · Feb 29, 2028Financial data as of Jun 30, 2026.
Tracking 4 pipeline candidates · 6 clinical trials · 2 catalysts for Olema Pharmaceuticals, Inc..
Olema Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on developing novel therapies for women's cancers, primarily targeting ER+/HER2- breast cancer with its lead candidate palazestrant and an early-stage program OP-3136.
- Lead product candidate palazestrant is in Phase 3 development for ER+/HER2- breast cancer [sec_mda · as of 2026-08-10].
- OP-3136 is in Phase 1 study; initial results were expected to be presented at the 2026 ASCO Annual Meeting [sec_mda · as of 2026-05-12].
- Cash and equivalents of $48.6M as of 2026-06-30 [sec].
- Net loss of -$63.2M for the latest reported period as of 2026-06-30 [sec].
- No product candidates approved for commercial sale and no revenue from product sales to date [sec_mda · as of 2026-05-12].
What works
- Palazestrant is in a Phase 3 randomized, open-label study versus standard of care, indicating advanced clinical development [sec_mda · as of 2026-08-10].
- The company has a second program, OP-3136, in Phase 1, expanding its pipeline beyond the lead candidate [sec_mda · as of 2026-05-12].
- Olema has raised sufficient capital to fund operations for at least the next 12 months from certain filing dates, suggesting near-term liquidity [sec_mda · as of 2025-11-10].
What to weigh
- Olema has incurred net operating losses since inception and expects to continue losing money for at least the next several years [sec_mda · as of 2026-08-10].
- The company has no approved products and no revenue from product sales, relying entirely on external financing [sec_mda · as of 2026-05-12].
- Substantial additional capital will be required to fund ongoing and planned clinical trials, and failure to raise capital could force delay or reduction of programs [sec_mda · as of 2026-08-10].
- Accumulated deficit was $509.3 million as of June 30, 2025, reflecting significant historical losses [sec_mda · as of 2025-08-11].
From the filings
Quoted directly from source documents.
Palazestrant is the lead product candidate for ER+/HER2- breast cancer.
“continue our ongoing and planned research and development of our lead product candidate, palazestrant, for the treatment of ER+/HER2- breast cancer”
SEC MD&A · August 10, 2026
OP-3136 is in Phase 1 and initial results were expected at ASCO 2026.
“We expect to present initial clinical results from the OP-3136 Phase 1 study at the 2026 American Society of Clinical Oncology Annual Meeting in May.”
SEC MD&A · May 12, 2026
The company has no approved products and no product revenue.
“We do not have any product candidates approved for commercial sale, and we have not generated any revenue from product sales.”
SEC MD&A · May 12, 2026
Olema expects to continue incurring net operating losses for several years.
“We expect to continue to incur net operating losses for at least the next several years”
SEC MD&A · August 10, 2026
Catalyst timeline
- 2028-02-29 · Phase3_Topline · op-1250 — Topline results from a Phase 3 randomized, open-label study of OP-1250 monotherapy versus standard of care for the treatment of ER+/HER2- breast cancer.
- 2032-01-01 · Phase3_Topline · palazestrant — Topline results from a Phase 3 randomized, double-blind, active-controlled study of palazestrant with ribociclib versus a comparator.
Risks & what to watch (4)›
Key risks
- No approved products or revenue — Olema has no product candidates approved for commercial sale and has never generated product revenue [sec_mda · as of 2026-05-12].
- Need for additional capital — The company will require substantial additional funding to develop product candidates and support operations beyond current plans [sec_mda · as of 2026-05-12].
- Clinical development risk — Palazestrant and OP-3136 are in clinical trials with inherent risks of failure or delay [sec_mda · as of 2026-08-10].
- History of net losses — Accumulated deficit was $509.3M as of June 30, 2025, and losses are expected to continue [sec_mda · as of 2025-08-11].
What to watch
- Phase 3 topline data for palazestrant expected in 2028 [catalyst_timeline].
- Phase 3 topline data for palazestrant with ribociclib expected in 2032 [catalyst_timeline].
- Initial Phase 1 results for OP-3136 (anticipated at 2026 ASCO) [sec_mda · as of 2026-05-12].
- Cash runway and any future financing events given $48.6M cash as of 2026-06-30 [sec].
Sources: SEC MD&A · Generated August 30, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
29.0 months
D/E 0.13 · 0% dilution
Lead: Phase 3
4 candidates
2 upcoming, next in ~548d
0 buys · 5 sells (180d)
Runway
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
197
Total value held
$1.30B
| Holder | Shares | Value |
|---|---|---|
| janus henderson group plc | 14,216,976 | $212.0M |
| fmr llc | 10,386,845 | $154.9M |
| vanguard capital management llc | 6,167,034 | $92.0M |
| blackrock, inc. | 5,652,135 | $84.3M |
| bvf inc/il | 5,295,893 | $79.0M |
| state street corp | 3,937,831 | $58.7M |
| woodline partners lp | 2,964,060 | $44.2M |
| ra capital management, l.p. | 2,600,000 | $38.8M |
| jennison associates llc | 1,822,123 | $27.2M |
| polar capital holdings plc | 1,602,970 | $23.9M |
Showing top 10 of 197 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 biopharmaceutical company focused on developing novel therapies for women's cancers, primarily targeting ER+/HER2- breast cancer with its lead candidate palazestrant and an early-stage program OP-3136.
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).
What is Olema Pharmaceuticals, Inc.'s next catalyst?
Olema Pharmaceuticals, Inc.'s next tracked catalyst is a Phase3_Topline event — "Phase 3 Topline: A Phase 3 Randomized, Open-Label Study of OP-1250 Monotherapy vs Standard of Care for the Treatment " — expected February 29, 2028.
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.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.