Olema Pharma Q3 net loss widens on higher costs

Overview

• US biopharma firm's Q3 net loss widened from a year earlier

• Higher R&D and clinical trial costs drove increased quarterly loss

• Company ended Q3 with $413.8 mln in cash and equivalents

Outlook

• Company expects top-line data from Phase 3 OPERA-01 trial in Q1 2027

• Strong enrollment continues in Phase 3 OPERA-02 and Phase 1b/2 OP-3136 trials

• Company plans to start Phase 1b/2 OP-3136 and darolutamide study in Q4 2026

Result Drivers

• CLINICAL TRIAL ENROLLMENT - Co said higher net loss was mainly due to increased enrollment in OPERA-01 and OPERA-02 Phase 3 trials and advancement of OP-3136 program

• R&D AND MANUFACTURING COSTS - Co cited higher R&D and manufacturing costs, as well as increased personnel expenses, as drivers of higher operating expenses

• G&A EXPENSES - Higher G&A expenses driven by increased investment in personnel, corporate infrastructure, and commercialization preparations

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Olema Pharmaceuticals, Inc. is $36.00, about 389.1% above its November 9 closing price of $7.36

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)