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Olema Oncology Reports First Quarter 2024 Financial Results and Provides Corporate Update
Completed enrollment in 60-patient Phase 1b/2 clinical studies of palazestrant in combination with each of ribociclib and palbociclibNew clinical data from
About this update from Olema Pharmaceuticals, Inc.
[{"type":"text","content":"Completed enrollment in 60-patient Phase 1b/2 clinical studies of palazestrant in combination with each of ribociclib and palbociclibNew clinical data from palazestrant-ribociclib combination study to be presented at the ESMO Breast Cancer Annual Congress 2024 in Berlin, Germany. Olema will host an investor conference call on May 15, 2024, at 8:00 a.m. ET to review the dataInvestigational New Drug (IND) application for OP-3136, a novel KAT6 inhibitor, expected to be filed with FDA in late 2024Cash, cash equivalents and marketable securities of $249.0 million as of March 31, 2024 SAN FRANCISCO, May 08, 2024 (GLOBE NEWSWIRE) -- Olema Pharmaceuticals, Inc. (“Olema”, “Olema Oncology”, Nasdaq: OLMA), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted therapies for women’s cancers, today reported financial results for the first quarter ended March 31, 2024, and provided a corporate update. “Our mission at Olema is uniquely focused on advancing the standard of care for women living with cancer,” said Sean P. Bohen, M.D., Ph.D., President and Chief Executive Officer of Olema Oncology. “We are excited for the achievements we are making both with palazestrant, our oral complete ER antagonist program, and now with our KAT6 inhibitor program, OP-3136. We believe palazestrant has the potential to become the backbone endocrine therapy-of-choice for advanced or metastatic breast cancer, and we look forward to presenting new clinical data in combination with ribociclib at the 2024 ESMO Breast Cancer Annual Congress later this month.” First Quarter 2024 Highlights Completed enrollment of 60-patient Phase 1b/2 studies of palazestrant (OP-1250) in combination with each of ribociclib and palbociclib.Nominated OP-3136, an orally bioavailable KAT6 inhibitor, as a development candidate. OP-3136 demonstrated potent anti-tumor activity alone and in combination with both palazestrant and CDK4/6 inhibitors in preclinical ER+ breast cancer models.Announced publication of data in Molecular Cancer Therapeutics describing the design, discovery and optimization of palazestrant. Upcoming Milestones Present interim Phase 1b/2 clinical results of palazestrant in combination with ribociclib at ESMO Breast Cancer Annual Congress 2024, May 15-17, 2024, in Berlin, Germany.Present trial-in-progress poster...