Olema Pharmaceuticals, Inc. OLMA
Olema is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of next-generation targeted therapies for breast cancer and beyond. We are advancing our pipeline of novel therapies by leveraging our deep understanding of endocrine-driven cancers, nuclear receptors, and mechanisms of acquired resistance.
Our lead product candidate, palazestrant (formerly known as OP-1250), is a novel, orally-available small molecule with dual activity as both a complete estrogen receptor (ER) antagonist (CERAN) and selective ER degrader (SERD), currently being investigated in patients with recurrent, locally advanced or metastatic ER-positive (ER+), human epidermal growth factor receptor 2-negative (HER2-), breast cancer. In pre-clinical models, palazestrant binds and completely blocks ER-driven transcriptional activity in both wild-type and mutant forms of metastatic ER+ breast cancer. In clinical studies across more than 400 patients, palazestrant has demonstrated strong anti-tumor activity, attractive pharmacokinetics and prolonged drug exposure, favorable tolerability, and combinability with cyclin-dependent kinase (CDK) 4/6 inhibitors (CDK4/6i) with no significant drug-drug interaction. Based on the clinical results we have achieved to date, we are advancing palazestrant through late-stage clinical development both as a monotherapy and in combination with other targeted agents.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| R&D | $157.7M | $124.5M | $86.1M | $82.3M | $51.1M | $13.7M | $3.9M | — |
| SG&A | $21.0M | $17.7M | $18.8M | $24.7M | $20.4M | $7.8M | $403.0K | — |
| Total operating expenses | $178.7M | $142.3M | $105.0M | $107.0M | $71.5M | $21.5M | $4.3M | — |
| Operating income | -$178.7M | -$142.3M | -$105.0M | -$107.0M | -$71.5M | -$21.5M | -$4.3M | — |
| Interest expense | — | — | — | — | — | $653.0K | — | — |
| Pre-tax income | -$162.4M | -$129.5M | -$96.7M | -$104.8M | — | — | — | — |
| Income tax | $3.0K | $2.0K | $2.0K | $1.0K | — | — | — | — |
| Net income | -$162.5M | -$129.5M | -$96.7M | -$104.8M | -$71.1M | -$22.1M | -$4.3M | — |
| EPS, basic | -1.87 | -2.20 | -2.14 | -2.62 | -1.80 | -3.42 | -1.66 | — |
| EPS, diluted | -1.87 | -2.20 | -2.14 | -2.62 | -1.80 | -3.42 | -1.66 | — |
| Shares, diluted (wtd. avg.) | 87.0M | 58.7M | 45.2M | 40.0M | 39.5M | 7.0M | 2.6M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $48.3M | $139.5M | $68.5M | $23.7M | $13.8M | $338.5M | $68.0K | $3.1M |
| Short-term investments | $457.1M | $294.6M | $193.3M | $180.7M | $273.4M | — | — | — |
| Total current assets | $515.5M | $438.5M | $266.5M | $208.9M | $290.7M | $342.1M | — | — |
| Property, plant and equipment | $274.0K | $746.0K | $968.0K | $1.5M | $1.5M | $75.0K | — | — |
| Total assets | $533.4M | $451.0M | $276.9M | $215.6M | $295.9M | $342.7M | — | — |
| Accounts payable | $9.3M | $4.5M | $2.7M | $374.0K | $23.0K | $719.0K | — | — |
| Total current liabilities | $51.8M | $41.8M | $21.6M | $16.5M | $9.0M | $4.6M | — | — |
| Total liabilities | $54.9M | $42.0M | $23.1M | $18.1M | $11.4M | $4.6M | — | — |
| Retained earnings | -$597.6M | -$435.1M | -$305.6M | -$209.0M | -$104.2M | -$33.1M | — | — |
| Total equity | $478.6M | $409.0M | $253.9M | $197.5M | $284.6M | $338.1M | -$10.6M | -$8.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$146.7M | -$104.4M | -$83.7M | -$82.1M | -$50.7M | -$19.9M | -$3.1M | — |
| Depreciation and amortisation | $490.0K | $393.0K | $377.0K | $357.0K | $163.0K | $11.0K | $9.0K | — |
| Stock-based compensation | $17.6M | $22.6M | $17.3M | $18.8M | $15.9M | $3.1M | — | — |
| Capital expenditure | — | $159.0K | — | $363.0K | $1.6M | $56.0K | — | — |
| Investing cash flow | -$155.8M | -$93.5M | -$4.9M | $91.5M | -$275.4M | -$56.0K | — | — |
| Financing cash flow | $211.3M | $268.8M | $133.4M | $476.0K | $1.4M | $358.4M | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-191956.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Net income | — | -$4.3M | -$22.1M | -$71.1M | -$104.8M | -$96.7M | -$129.5M | -$162.5M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Regulation FD disclosure Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Officer or director change Item 5.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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