Olema Oncology (NASDAQ:OLMA) announced its fourth-quarter and full-year 2025 financial results on Monday, highlighting a year of substantial capital formation and clinical acceleration.
The San Francisco-based company closed a major follow-on offering in late 2025, raising approximately $218.5 million.
This financing, combined with existing reserves, left Olema with $505.4 million in cash, cash equivalents, and marketable securities at year-end—a capital position management expects will fund operations through several major clinical catalysts.
The company’s lead program, palazestrant (OP-1250), a complete estrogen receptor (ER) antagonist (CERAN) and selective ER degrader (SERD), is the primary focus of two ongoing registration-directed studies.
Top-line results from the OPERA-01 Phase 3 trial, which evaluates palazestrant as a monotherapy in patients with ER+/HER2- metastatic breast cancer, are now firmly targeted for fall 2026.
Simultaneously, enrollment for the OPERA-02 study is progressing ahead of schedule, further validating the clinical interest in palazestrant’s potential as a backbone therapy.
Expansion efforts for palazestrant are also moving into combination settings.