Olema Pharmaceuticals Inc (NASDAQ: OLMA) is a clinical-stage biopharmaceutical company developing targeted therapies for cancer. The company generates no product revenue, funding operations through equity offerings and private placements. As of the 10-K filed 2026-03-16, Olema had raised $243.5 million in net proceeds from a 2024 Private Placement and $22.8 million through at-the-market share sales during the year ended December 31, 2024. The company burned $104.4 million in operating cash in FY2024 and $146.7 million in FY2025. Its pipeline centers on palazestrant and OP-3136, both in clinical development and not yet approved. Olema has no commercial sales force and no marketed products as of the filing date. The company contracts clinical work to contract research organizations. It carries a $3.0 million credit facility obligation and operating lease obligations totaling $1.2 million.

Revenue model

No product revenue as of the filing date. Operations are funded entirely through equity capital raises, including private placements and at-the-market common stock offerings.

Products and services

Pipeline candidates palazestrant and OP-3136, both in clinical development as of the 10-K filed 2026-03-16. Neither product holds marketing authorization or generates revenue.

Customers and end markets

No commercial customers as of the filing date. End market is oncology, with physicians and patients as the eventual target audience upon any future approval.

Value-chain role

Clinical-stage drug developer. Research and clinical trial execution is outsourced to contract research organizations. The company has no internal commercial sales or distribution infrastructure.

Geographic exposure

Operations subject to U.S. regulatory oversight. Clinical trial activity conducted in the European Economic Area and United Kingdom, with data privacy obligations under GDPR and UK GDPR as noted in the FY2025 10-K.

Source: SEC 10-K, filed 2026-03-16

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