The Phase 1 data are early but positive for a novel mechanism. Watch for ASCO presentation details on May 30 and any subsequent partnership or financing announcements. The stock may see volatility around the ASCO data release.
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Executive Summary
Olema Oncology announced preliminary Phase 1 data for OP-3136, a KAT6 inhibitor, showing acceptable tolerability and early anti-tumor activity across solid tumors. The data will be presented at ASCO 2026. While the safety profile and tumor shrinkage in 13 of 19 evaluable patients are encouraging, the sample is small and heavily pretreated, limiting immediate commercial read-through.
Key Facts
- OP-3136 monotherapy showed no dose-limiting toxicities and no discontinuations due to TRAEs across doses up to 45 mg/day.
- Among 19 response-evaluable patients, tumor shrinkage was observed in 13 patients; 2 confirmed PRs and 1 unconfirmed PR.
- Most common TRAEs were dysgeusia (81% any grade), anemia (38% any grade; 6% grade 3), and neutropenia (34% any grade; 28% grade 3).
- 11 of 32 patients remain on treatment; longest treatment duration is 62 weeks.
- Data will be presented at ASCO on May 30, 2026; a Phase 3 OPERA-02 trial-in-progress poster will also be presented.
- OP-3136 is being evaluated in ER+/HER2- advanced breast cancer, mCRPC, and mNSCLC.
Financial Impact
No financial data provided; clinical-stage company with no approved products or revenue.
Risk Factors
- Small sample size (32 patients, 19 evaluable) limits statistical reliability.
- Grade 3 neutropenia (28%) and anemia (6%) may become dose-limiting in larger cohorts.
- No revenue or near-term approval; company is pre-commercial and dependent on financing.
- Historical OLMA reports show poor T+20 performance (avg -21.87% alpha), suggesting market skepticism.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3299773 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 10, 2026 7w ago | 8-K | $10.43 $10.36 | ▼ −0.67% | ▲ +0.39% | $8.23 (−21.14%) |
Aug 10, 2026 7w ago | Press Release | $10.43 $10.36 | ▼ −0.67% | ▲ +0.39% | $8.23 (−21.14%) |
Aug 9, 2026 7w ago | Institutional Cluster | $11.94 $10.99 | ▲ +8.00% | ▲ +7.08% | $8.23 (+31.11%) |
May 26, 2026 18w ago | 8-K | $13.55 $11.46 | ▼ −15.42% | ▼ −13.48% | $8.23 (−39.30%) |
May 26, 2026 18w ago | Press Release | $13.55 $11.46 | ▼ −15.42% | ▼ −13.48% | $8.23 (−39.30%) |
May 21, 2026 19w ago | 8-K | $13.68 $10.19 | ▼ −25.51% | ▼ −24.10% | $8.23 (−39.88%) |
May 21, 2026 19w ago | Press Release | $13.68 $10.19 | ▼ −25.51% | ▼ −24.10% | $8.23 (−39.88%) |
May 12, 2026 20w ago | 8-K | $13.97 $9.82 | ▼ −29.71% | ▼ −27.98% | $8.23 (−41.12%) |
May 12, 2026 20w ago | Press Release | $13.97 $9.82 | ▼ −29.71% | ▼ −27.98% | $8.23 (−41.12%) |
Apr 29, 2026 22w ago | DEFA14A | $14.41 $13.19 | ▼ −8.47% | ▼ −13.69% | $8.23 (−42.92%) |
US Market Status
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