Earnings ·
Olema Pharmaceuticals reports Q3 net loss of $73.6M; appoints Jason O'Byrne as CFO
OLMAOlema Pharmaceuticals, Inc.
Olema Pharmaceuticals reported a third-quarter net loss of $73.6 million, an increase from $42.2 million in the prior-year period, driven by higher R&D expenses for its pivotal Phase 3 trials and increased personnel costs. The company ended the quarter with $413.8 million in cash, cash equivalents, and marketable securities. Additionally, Olema appointed Jason O'Byrne as Chief Financial Officer. Olema is a clinical-stage biopharmaceutical company focused on developing targeted therapies for breast cancer.