Traders should monitor upcoming clinical catalysts—OP-3136 data in Q2 2026 and OPERA-01 top-line readout in fall 2026—as key value inflection points. The strengthened balance sheet supports operations into 2027, reducing near-term dilution risk.
Price Chart
Executive Summary
Olema Oncology reported financial results for 2025, showing increased net losses due to higher R&D spending on late-stage trials for palazestrant and early development of OP-3136. The company raised $218.5 million in a follow-on offering, ending the year with $505.4 million in cash. Key catalysts ahead include top-line data from the Phase 3 OPERA-01 trial in fall 2026 and initial clinical results for OP-3136 in Q2 2026.
Key Financial Metrics
Key Facts
- Net loss for 2025 was $162.5 million, up from $129.5 million in 2024, driven by increased R&D spending.
- GAAP R&D expenses rose to $157.7 million in 2025 from $124.5 million in 2024, including a $10M milestone payment (vs. $5M in 2024).
- Company raised $218.5 million in gross proceeds from a public offering, ending 2025 with $505.4 million in cash and marketable securities.
- Top-line data from Phase 3 OPERA-01 trial expected in fall 2026; initial OP-3136 data expected Q2 2026.
- No revenue generated; company remains pre-commercial with no product sales.
Financial Impact
Increased annual net loss by $33 million YoY; cash position increased by $71.3 million to $505.4 million after offering.
Risk Factors
- Clinical trial setbacks could materially impact valuation, as the company is entirely dependent on development-stage assets.
- Continued losses and future capital raises may lead to shareholder dilution.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3256109 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 10, 2026 7w ago | 8-K | $10.43 $10.36 | ▼ −0.67% | ▲ +0.39% | $8.26 (−20.85%) |
Aug 10, 2026 7w ago | Press Release | $10.43 $10.36 | ▼ −0.67% | ▲ +0.39% | $8.26 (−20.85%) |
Aug 9, 2026 7w ago | Institutional Cluster | $11.94 $10.99 | ▲ +8.00% | ▲ +7.08% | $8.26 (+30.86%) |
May 26, 2026 18w ago | 8-K | $13.55 $11.46 | ▼ −15.42% | ▼ −13.48% | $8.26 (−39.08%) |
May 26, 2026 18w ago | Press Release | $13.55 $11.46 | ▼ −15.42% | ▼ −13.48% | $8.26 (−39.08%) |
May 21, 2026 19w ago | 8-K | $13.68 $10.19 | ▼ −25.51% | ▼ −24.10% | $8.26 (−39.66%) |
May 21, 2026 19w ago | Press Release | $13.68 $10.19 | ▼ −25.51% | ▼ −24.10% | $8.26 (−39.66%) |
May 12, 2026 20w ago | 8-K | $13.97 $9.82 | ▼ −29.71% | ▼ −27.98% | $8.26 (−40.91%) |
May 12, 2026 20w ago | Press Release | $13.97 $9.82 | ▼ −29.71% | ▼ −27.98% | $8.26 (−40.91%) |
Apr 29, 2026 22w ago | DEFA14A | $14.41 $13.19 | ▼ −8.47% | ▼ −13.69% | $8.26 (−42.71%) |
US Market Status
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