Olema reports Q3 2026 results, reiterates early-2027 OPERA-01 data timeline

Olema Pharmaceuticals reported financial and operating results for the quarter ended September 30, 2026, on November 10, 2026. The company said it remains on track to announce top-line data from the pivotal Phase 3 OPERA-01 trial in the first quarter of 2027, and reported continued strong enrollment in the pivotal Phase 3 OPERA-02 trial and the Phase 1b/2 study of OP-3136.¹

Looking ahead, Olema listed several near-term items. The company plans to present preclinical findings on selective degradation of KAT6A in estrogen receptor-positive breast cancer at the "38th EORTC-NCI-AACR Symposium 2026 on Molecular Targets and Cancer Therapeutics (ENA)" in November.¹ It also plans to share results from three combination studies, OP-3136 with fulvestrant, palazestrant with everolimus, and palazestrant with atirmociclib, all in ER-positive, HER2-negative advanced or metastatic breast cancer patients, at the 2026 San Antonio Breast Cancer Symposium in December.¹ Separately, Olema expects to begin enrolling patients in a Phase 1b/2 study testing OP-3136 alongside Bayer's darolutamide in metastatic castration-resistant prostate cancer, with that collaboration's enrollment set to start in the fourth quarter of 2026.¹ OPERA-01 top-line data remain expected in the first quarter of 2027.¹

On financial standing, Olema held $413.8 million in cash, cash equivalents, and marketable securities as of September 30, 2026.¹ Net loss for the quarter was $73.6 million, up from $42.2 million a year earlier, which the company attributed mainly to higher enrollment costs across its OPERA-01 and OPERA-02 trials, continued OP-3136 development, and early work preparing for potential commercialization of palazestrant.¹