Olema Pharmaceuticals
Develops oral therapies for breast cancer and other endocrine-driven tumors.
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Profile
Develops targeted oncology drugs without marketed products, centered on palazestrant in late-stage breast cancer trials and OP-3136 in early clinical development. The business is organized as one consolidated segment and depends on clinical results, regulatory review, and future commercialization.
Builds a clinical-stage oncology pipeline around endocrine-driven cancers, especially ER+/HER2- metastatic breast cancer. Palazestrant is the wholly owned lead candidate, with pivotal monotherapy and ribociclib-combination studies. OP-3136 adds an earlier KAT6 inhibitor program for breast and other solid tumors.
Operations are centered in San Francisco with additional activity in Cambridge. The company has no approved commercial products or product-sales revenue, so current execution is clinical development, regulatory preparation, and potential launch planning rather than marketed portfolio management.
Business structure is simple: one consolidated reportable segment managed at the company level. Future value depends on trial readouts, FDA review, manufacturing readiness, and the ability to build a commercial oncology presence if palazestrant succeeds.
Company facts
Key statistics
Year to date −59.3% · Average volume (30d) 922.6K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 11, 2026 | Goldman Sachs | Target | $38 | $20 | |
| May 13, 2026 | Guggenheim | Reiterate | Buy | $40 | $35 |
| Mar 9, 2026 | H.C. Wainwright | Target | $45 | $38 | |
| Feb 10, 2026 | Stifel Nicolaus | Target | $48 | ||
| Jan 7, 2026 | Piper Sandler | Target | $40 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 10, 2026Q2 FY26 | −$0.55 | −$0.61 | −10.6% | — | — | — | −12.65% |
| May 12, 2026Q1 FY26 | −$0.52 | −$0.52 | 0.0% | — | — | — | −2.79% |
| Mar 16, 2026Q4 FY25 | −$0.51 | −$0.50 | +2.0% | — | — | — | −9.28% |
| Nov 10, 2025Q3 FY25 | −$0.44 | −$0.49 | −11.4% | — | — | — | −5.86% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | |
| Gross profit | $0 | $0 | $0 | −$187.0K | −$119.0K | $0 | |
| Operating income | −$34.9M | −$47.9M | −$45.9M | −$50.1M | −$58.0M | −$67.2M | |
| Net income | −$30.4M | −$43.8M | −$42.2M | −$46.1M | −$53.1M | −$63.2M | |
| Diluted EPS | −$0.36 | −$0.51 | −$0.49 | −$0.51 | −$0.52 | −$0.61 | |
| Gross margin | — | — | — | — | — | — | |
| Operating margin | — | — | — | — | — | — |
Fiscal years (4-quarter sums)FY21 $0 · FY22 $0 · FY23 $0 · FY24 $0 · FY25 $0
Balance sheet, Jun 30, 2026Cash & short-term investments $461.1M · Total debt $660.0K · Total assets $486.6M · Shareholders' equity $430.6M
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 87.35M · Float 70.84M · 81.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| FMR LLC | 12.14M | 13.90% | 13F | Aug 13, 2026 |
| Paradigm Biocapital Advisors LP | 8.67M | 9.93% | 13F | Aug 14, 2026 |
| Janus Henderson Group PLC | 7.11M | 8.20% | 13G | May 15, 2026 |
| Jupiter Topco LLC | 7.09M | 8.12% | 13F | Aug 14, 2026 |
| Bain Capital Life Sciences Investors, LLC | 7.09M | 8.11% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 24, 2026 | Cyrus Harmon | director | −12,500 | $11.71 |
| Jul 23, 2026 | Cyrus Harmon | director | −12,500 | $11.58 |
| Mar 3, 2026 | Shawnte Mitchell | officer: CHIEF LEGAL OFFICER | −15,000 | $23.01 |
| Mar 4, 2026 | Shawnte Mitchell | officer: CHIEF LEGAL OFFICER | −25,000 | $24.25 |
| Jan 20, 2026 | Cyrus Harmon | director | −10,000 | $26.88 |
Peers
- AstraZeneca (ADR)
Direct ER breast-cancer rival through Faslodex and camizestrant
- Eli Lilly
Approved oral ER antagonist in the same metastatic breast-cancer lane
- Arvinas
Phase 3 ER degrader peer with vepdegestrant
- Pfizer
Partnered ER degrader and KAT6 programs overlap both pipeline pillars
- LeonaBio
Phase 3 lasofoxifene challenger in ESR1-mutated metastatic disease
- BeOne Medicines (ADR)
KAT6A/B inhibitor peer for OP-3136
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Olema Pharmaceuticals | $10.50 | +2.14% | $897.1M | — | — | — | — |
| AstraZeneca (ADR) | $161.79 | −0.55% | $252.33B | 24.4 | 15.2 | 4.1 | +6.4% |
| Eli Lilly | $1,173.00 | −0.08% | $1.10T | 39.4 | 28.7 | 13.9 | +47.7% |
| Arvinas | $9.18 | +0.05% | $592.3M | 57.4 | — | 1.9 | +1,014.7% |
| Pfizer | $27.95 | −0.04% | $159.36B | 36.9 | 10.0 | 2.5 | +2.6% |
| LeonaBio | $7.83 | −2.12% | $31.6M | — | — | — | — |
| BeOne Medicines (ADR) | $366.73 | −0.01% | $39.19B | 5.1 | 46.7 | 6.9 | +29.6% |
| Median | 36.9 | 22.0 | 4.1 | +29.6% |