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Olema's quarterly loss widens to $73.6M as palazestrant Phase 3 trials advance

🇺🇸 Olema Pharmaceuticals, Inc. (OLMA) · Tue 10 Nov 2026

The oncology biotech kept its Q1 2027 target for top-line OPERA-01 data, appointed a new CFO and plans an OP-3136 prostate cancer study in Q4 2026.

Olema Pharmaceuticals reported third-quarter 2026 results on 10 November, with the net loss rising to $73.6M from $42.2M in the same period a year earlier. The company linked the wider loss to its two Phase 3 trials of palazestrant in ER+/HER2- metastatic breast cancer, OPERA-01 and OPERA-02, which are enrolling patients.

Cash stood at $413.8M at the end of the quarter. The company did not change its timeline for OPERA-01: top-line data are still expected in the first quarter of 2027.

Olema also named Jason O'Byrne as chief financial officer. On the pipeline, it plans to begin a Phase 1b/2 study in the fourth quarter of 2026 combining OP-3136 with darolutamide in metastatic castration-resistant prostate cancer (mCRPC).

The full text of the company's release was not available to VigiEye, so further financial detail and trial design information are not covered here.

What it means for your team

  • The Q1 2027 OPERA-01 readout is the next key milestone for palazestrant; any later filing would depend on those results.
  • Market-access teams tracking ER+/HER2- metastatic breast cancer should note that the Phase 3 programme is still enrolling and no efficacy data have been released.
  • A Phase 1b/2 start for OP-3136 with darolutamide in mCRPC would extend Olema's activity beyond breast cancer, subject to the planned Q4 2026 start.

Company's press release (SEC filing): Olema Pharmaceuticals, Inc. ↗

Article written by VigiEye from the official source (Olema Pharmaceuticals, Inc.). Claims are the company's own. AI-assisted; check the source before acting.

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