This collaboration with Bayer provides external validation for OP-3136 and expands its potential into prostate cancer, a large market. The upcoming ASCO data readout on May 30, 2026, for the Phase 1 monotherapy study is a key near-term catalyst. Monitor for initial safety and efficacy data from the Phase 1 study, which will inform the probability of success for the broader OP-3136 program.
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Executive Summary
Olema Pharmaceuticals announced a clinical trial collaboration and supply agreement with Bayer to evaluate its novel KAT6 inhibitor, OP-3136, in combination with Bayer's NUBEQA (darolutamide) in a Phase 1b/2 study for metastatic castration-resistant prostate cancer (mCRPC). The study is expected to initiate in H2 2026, with Bayer supplying darolutamide and Olema leading the study. Olema retains full global commercial and marketing rights to OP-3136. This is the first clinical collaboration for OP-3136, providing validation and potential expansion into a new indication beyond breast cancer.
Key Facts
- Olema entered a clinical trial collaboration and supply agreement with Bayer to evaluate OP-3136 (KAT6 inhibitor) in combination with NUBEQA (darolutamide) in mCRPC.
- Phase 1b/2 study will enroll approximately 36 patients with mCRPC; expected to initiate in H2 2026.
- Bayer will supply darolutamide; Olema will lead the study and retain full global commercial and marketing rights to OP-3136.
- This is the first clinical collaboration for OP-3136, which is currently in a Phase 1 monotherapy study and being evaluated in combination with fulvestrant and palazestrant in ER+/HER2- metastatic breast cancer.
- Initial clinical data from the Phase 1 study of OP-3136 will be presented at ASCO on May 30, 2026.
Financial Impact
No financial terms disclosed; Bayer supplies drug, Olema retains full commercial rights to OP-3136.
Risk Factors
- Phase 1b/2 study is early-stage and may not demonstrate sufficient efficacy or safety.
- No financial terms disclosed; the collaboration does not provide immediate funding or milestone payments.
- OP-3136 is still in early clinical development; the ASCO data may be mixed or underwhelming.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-237832 |
| Document: olma-ex99_1.htm | 0001193125-26-237832 |
| Document: 0001193125-26-237832-index-headers.html | 0001193125-26-237832 |
| Document: 0001193125-26-237832-index.html | 0001193125-26-237832 |
| Document: 0001193125-26-237832.txt | 0001193125-26-237832 |
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%) |
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