Olema Pharmaceuticals, Inc.

Listed Company

OLMACIK 0001750284NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-162.45M

Total Assets

$533.43M

Equity

$478.56M

Shares Out

87.16M

Op. Cash Flow

$-146.72M

Business

Olema Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing next-generation targeted therapies for endocrine-driven cancers, primarily breast cancer. Its main product candidates include palazestrant, an oral estrogen receptor complete antagonist and selective ER degrader (CERAN/SERD), and OP-3136, an oral KAT6 inhibitor, both in clinical development. Business activities center on research and development, clinical trials, intellectual property management and strategic collaborations, including clinical partnerships with Novartis and Pfizer. Olema conducts clinical development and distribution activities globally, relies on third‑party contract manufacturers, and pursues commercialization in major markets such as the U.S. and Europe.

Summary from filing dated 2025-03-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Research and development	158	125	86	82	51
General and administrative	21	18	19	25	20
Total operating expenses	179	142	105	107	71
Loss from operations	−179	−142	−105	−107	−71
Interest income	16	13	8	2	442,000
Other income	23,000	102,000	−19,000	−27,000	−47,000
Total other income	16	13	8	2	395,000
Net loss	−162	−129	−97	−105	−71
Net loss per share, basic (in dollars per share)	−1.87	−2.2	−2.14	−2.62	−1.8
Net loss per share, diluted (in dollars per share)	−1.87	−2.2	−2.14	−2.62	−1.8
Weighted average shares used to compute net loss per share, basic (in shares)	87	59	45	40	40
Weighted average shares used to compute net loss per share, diluted (in shares)	87	59	45	40	40

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	48	139	69	24	14
Marketable securities	457	295	193	181	273
Prepaid expenses and other current assets	10	4	5	4	3
Total current assets	515	438	267	209	291
Operating lease right-of-use assets	1	1	2	2	3
Other assets and long-term deposits	17	11	8	4	—
Total assets	533	451	277	216	296
Accounts payable	9	4	3	374,000	23,000
Operating lease liabilities, current	1	1	988,000	1	931,000
Other current liabilities (Note 6)	41	36	18	15	8
Total current liabilities	52	42	22	17	9
Operating lease liabilities, net of current portion	69,000	257,000	1	2	2
Long-term borrowing	3	0	—	—	—
Total liabilities	55	42	23	18	11
Commitments and contingencies (Note 12)	—	—	—	—	—
Preferred stock, $0.0001 par value; 10,000,000 shares authorized as of December 31, 2025 and 2024; no shares issued and outstanding as of December 31, 2025 and 2024.	—	—	—	—	—
Common stock, $0.0001 par value; 490,000,000 shares authorized as of December 31, 2025 and 2024; 81,376,449 and 74,312,608 shares issued and outstanding as of December 31, 2025 and 2024, respectively.	8,000	7,000	4,000	3,000	3,000
Additional paid-in capital	1,075	844	559	408	389
Accumulated other comprehensive income	621,000	143,000	347,000	−2	−149,000
Accumulated deficit	−598	−435	−306	−209	−104
Total stockholders' equity	479	409	254	198	285
Total liabilities and stockholders' equity	533	451	277	216	296

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−162	−129	−97	−105	−71
Depreciation and amortization expense	490,000	393,000	377,000	357,000	163,000
Non-cash lease expense	1	1	1	1	1
Non-cash interest income on marketable securities	−6	−8	—	—	—
Stock-based compensation expense, including employee stock purchase plan expense	18	23	17	19	16
Loss on disposal of equipment	—	9,000	111,000	—	—
Prepaid expenses and other current assets	−5	−429,000	694,000	−2	−40,000
Other assets and long-term deposits	−6	−3	−5	−1	—
Accounts payable	5	3	2	351,000	−683,000
Other current liabilities	11	11	3	7	5
Operating lease liabilities	−1	−1	−1	−1	−988,000
Net cash used in operating activities	−147	−104	−84	−82	−51
Purchase of equipment	—	−159,000	—	−363,000	−2
Maturities of marketable securities	345	302	251	306	213
Purchases of marketable securities	−501	−395	−256	−214	−487
Net cash used in investing activities	−156	−94	−5	91	−275
Proceeds from issuance of shares upon follow-on public offering, net of issuance costs of $13,110	205	—	—	—	—
Proceeds from issuance of shares under at-the-market offering, net of issuance costs of $166	—	23	—	—	—
Proceeds from 2024 private placement, net of issuance costs of $6,498	—	244	130	—	—
Payment of issuance costs for shares issued under 2024 private placement	−7	—	—	—	—
Proceeds from borrowings under Credit Facility (Note 13)	3	—	—	—	—
Proceeds from exercise of stock options	8	2	3	146,000	670,000
Proceeds from issuance of common stock under employee stock purchase plan	1	859,000	1	330,000	721,000
Net cash provided by financing activities	211	269	133	476,000	1
Net (decrease) increase in cash and cash equivalents	−91	71	45	10	−325
Exchange common stock shares for pre-funded warrants	29	31	—	—	—
Right-of-use asset obtained in exchange for operating lease liabilities	896,000	0	—	—	—
Unpaid issuance costs related to follow-on offering and 2024 private placement	578,000	7	—	—	—
Research and development project deposit applied against study invoices	177,000	748,000	—	—	—
System implementation cost included in other current liabilities	−95,000	−337,000	—	—	—

Filings

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