$OLMA
Olema Pharmaceuticals Inc

2024 Q1 Form 10-K Financial Statement

#000095017024029281 Filed on March 11, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.456M $4.544M $18.82M
YoY Change -34.24% -19.36% -23.84%
% of Gross Profit
Research & Development $29.88M $25.87M $86.14M
YoY Change 30.92% 19.87% 4.7%
% of Gross Profit
Depreciation & Amortization $88.00K $88.00K $377.0K
YoY Change -12.0% -9.28% 5.6%
% of Gross Profit
Operating Expenses $34.34M $30.42M $105.0M
YoY Change 16.0% 11.75% -1.89%
Operating Profit -$34.34M -$105.0M
YoY Change 16.0% -1.89%
Interest Expense $3.352M $3.551M $8.325M
YoY Change 156.86% 264.95% 273.65%
% of Operating Profit
Other Income/Expense, Net $3.369M $93.00K -$19.00K
YoY Change 156.0% 38.81% -100.86%
Pretax Income -$30.97M -$26.77M -$96.66M
YoY Change 9.49% 2.27% -7.76%
Income Tax $2.000K
% Of Pretax Income
Net Earnings -$30.97M -$26.77M -$96.66M
YoY Change 9.49% 2.27% -7.76%
Net Earnings / Revenue
Basic Earnings Per Share -$0.56 -$2.14
Diluted Earnings Per Share -$0.56 -$0.49 -$2.14
COMMON SHARES
Basic Shares Outstanding 55.91M 54.77M 45.25M
Diluted Shares Outstanding 55.57M 45.25M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $249.0M $261.8M $261.8M
YoY Change 33.89% 28.07% 28.07%
Cash & Equivalents $33.72M $68.54M $68.54M
Short-Term Investments $215.3M $193.3M $193.3M
Other Short-Term Assets $2.449M $4.033M $4.033M
YoY Change -22.03% -3.03% -3.03%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $252.1M $266.5M $266.5M
YoY Change 33.1% 27.58% 27.58%
LONG-TERM ASSETS
Property, Plant & Equipment $1.033M $3.259M $3.259M
YoY Change -25.14% 120.2% -18.01%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $8.516M $7.173M $7.173M
YoY Change 207.33% 158.86% 158.86%
Total Long-Term Assets $11.60M $10.43M $10.43M
YoY Change 82.14% 54.64% 54.64%
TOTAL ASSETS
Total Short-Term Assets $252.1M $266.5M $266.5M
Total Long-Term Assets $11.60M $10.43M $10.43M
Total Assets $263.7M $276.9M $276.9M
YoY Change 34.7% 28.43% 28.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.656M $2.698M $2.698M
YoY Change 1024.23% 621.39% 621.39%
Accrued Expenses $18.48M $18.85M $18.85M
YoY Change -0.5% 17.63% 17.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $26.22M $21.62M $21.62M
YoY Change 35.11% 30.65% 30.65%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.152M $1.429M $1.429M
YoY Change -16.7% -7.81% -7.81%
Total Long-Term Liabilities $1.152M $1.429M $1.429M
YoY Change -16.7% -7.81% -7.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.22M $21.62M $21.62M
Total Long-Term Liabilities $1.152M $1.429M $1.429M
Total Liabilities $27.38M $23.05M $23.05M
YoY Change 31.66% 27.36% 27.36%
SHAREHOLDERS EQUITY
Retained Earnings -$336.6M -$305.6M
YoY Change 41.87% 46.25%
Common Stock $4.000K $4.000K
YoY Change 33.33% 33.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $236.3M $253.9M $253.9M
YoY Change
Total Liabilities & Shareholders Equity $263.7M $276.9M $276.9M
YoY Change 34.7% 28.43% 28.43%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$30.97M -$26.77M -$96.66M
YoY Change 9.49% 2.27% -7.76%
Depreciation, Depletion And Amortization $88.00K $88.00K $377.0K
YoY Change -12.0% -9.28% 5.6%
Cash From Operating Activities -$23.50M -$18.48M -$83.73M
YoY Change 15.23% -6.27% 2.03%
INVESTING ACTIVITIES
Capital Expenditures $153.0K $0.00 $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities -$19.99M -$30.92M -$4.851M
YoY Change -153.47% -287.26% -105.28%
Cash From Investing Activities -$20.14M -$30.92M -$4.851M
YoY Change -153.88% -289.24% -105.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.679M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 8.821M 523.0K 133.4M
YoY Change 3909.55% 91.58% 27928.36%
NET CHANGE
Cash From Operating Activities -23.50M -18.48M -83.73M
Cash From Investing Activities -20.14M -30.92M -4.851M
Cash From Financing Activities 8.821M 523.0K 133.4M
Net Change In Cash -34.82M -48.87M 44.84M
YoY Change -302.25% 1475.37% 353.36%
FREE CASH FLOW
Cash From Operating Activities -$23.50M -$18.48M -$83.73M
Capital Expenditures $153.0K $0.00 $0.00
Free Cash Flow -$23.65M -$18.48M -$83.73M
YoY Change 15.98% -7.08% 1.58%

Facts In Submission

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23702000
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2023Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
261800000
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">The accompanying consolidated financial statements are prepared in accordance with GAAP. The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of expenses during the reporting period. Significant areas that require management’s estimates include accruals of research and development expenses, including accrual of research contract costs, stock-based compensation assumptions, including the fair value of common stock. On an ongoing basis, the Company evaluates its estimates and judgments, which are based on historical and anticipated results and trends and on various other assumptions that management believes to be reasonable under the circumstances. Actual results could differ from those estimates.</span></p>
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;">Concentration of Credit Risk and Other Risks and Uncertainties</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">Financial instruments that potentially subject the Company to concentration of credit risk consist of cash, cash equivalents, and marketable securities. The Company invests in a variety of financial instruments and, by its policy, limits these financial instruments to high credit quality securities issued by the U.S. government, U.S. government-sponsored agencies and highly rated banks and corporations, subject to certain concentration limits. The Company’s cash, cash equivalents, and marketable securities are held by financial institutions in the United States that management believes are of high credit quality. Amounts on deposit with individual banking institutions may at times exceed the limits insured by the Federal Deposit Insurance Corporation (“FDIC”); however, the Company has not experienced any losses on such deposits.</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">The Company’s future results of operations involve a number of other risks and uncertainties. Factors that could affect the Company’s future operating results and cause actual results to vary materially from expectations include, but are not limited to, uncertainty of results of clinical trials and reaching milestones, uncertainty of regulatory approval of the Company’s current and potential future product candidates, uncertainty of market acceptance of the Company’s product candidates, competition from substitute products and larger companies, securing and protecting proprietary technology, strategic relationships, dependence on key individuals or sole-source suppliers, and geopolitical and macroeconomic factors.</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">The Company’s product candidates require approvals from the U.S. Food and Drug Administration (“FDA”) and comparable foreign regulatory agencies prior to commercial sales in their respective jurisdictions. There can be no assurance that any product candidates will receive the necessary approvals. If the Company were denied approval, approval was delayed or the Company was unable to maintain approval for any product candidate, it could have a materially adverse impact on the Company.</span></p>
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
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AvailableForSaleDebtSecuritiesAmortizedCostBasis
261765000
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AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
355000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
8000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
262112000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
206355000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
17000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1830000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
204542000
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DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0
CY2023Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
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0
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PrepaidReimbursableResearchAndDevelopmentCostsFromCollaborationPartner
1491000
CY2022Q4 olma Prepaid Reimbursable Research And Development Costs From Collaboration Partner
PrepaidReimbursableResearchAndDevelopmentCostsFromCollaborationPartner
1387000
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1239000
CY2022Q4 us-gaap Prepaid Insurance
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1738000
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858000
CY2022Q4 olma Prepaid Clinical Trial Costs
PrepaidClinicalTrialCosts
506000
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InterestReceivableCurrent
673000
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InterestReceivableCurrent
319000
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PrepaidSubscriptionsAndLicenses
255000
CY2022Q4 olma Prepaid Subscriptions And Licenses
PrepaidSubscriptionsAndLicenses
399000
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OtherPrepaidExpenseCurrent
190000
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
129000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4706000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4478000
CY2023Q4 olma Clinical Development Project Deposits Noncurrent
ClinicalDevelopmentProjectDepositsNoncurrent
6688000
CY2022Q4 olma Clinical Development Project Deposits Noncurrent
ClinicalDevelopmentProjectDepositsNoncurrent
2274000
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PropertyPlantAndEquipmentNet
968000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1480000
CY2023Q4 olma Security Deposits Noncurrent
SecurityDepositsNoncurrent
485000
CY2022Q4 olma Security Deposits Noncurrent
SecurityDepositsNoncurrent
497000
CY2023Q4 olma Other Assets And Long Term Deposits Non Current
OtherAssetsAndLongTermDepositsNonCurrent
8141000
CY2022Q4 olma Other Assets And Long Term Deposits Non Current
OtherAssetsAndLongTermDepositsNonCurrent
4251000
CY2023Q4 olma Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
11322000
CY2022Q4 olma Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
9105000
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AccruedBonusesCurrent
5465000
CY2022Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
4518000
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AccruedProfessionalFeesCurrent
903000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1091000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
172000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
296000
CY2023Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
73000
CY2022Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
68000
CY2022Q4 olma Early Exercise Of Unvested Options
EarlyExerciseOfUnvestedOptions
82000
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OtherLiabilitiesCurrent
17935000
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
15160000
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CommonStockCapitalSharesReservedForFutureIssuance
12336755
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
11801353
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
1
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0364
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0199
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y7D
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y10D
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8635
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7971
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8384858
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.59
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3M18D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
262000
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2569485
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.92
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.88
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1509502
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
6.86
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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8670742
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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8.52
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y7M6D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
61749000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
4694809
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
9.88
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P6Y9M29D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
30976000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
3975933
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
6.92
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y6M3D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
30773000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.37
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.83
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
2329483
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
1670701
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
6.97
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
6.76
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
16200000
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
11300000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3500000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
300000
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EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
20800000
CY2022 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P2Y5M1D
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AllocatedShareBasedCompensationExpense
17256000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
18829000
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IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
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CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
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CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
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CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
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CY2023 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
1411000
CY2022 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
624000
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
2842000
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
1952000
CY2023 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
1013000
CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
450000
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CY2022 olma Effective Income Tax Rate Reconciliation Other Permanent Items Amount
EffectiveIncomeTaxRateReconciliationOtherPermanentItemsAmount
608000
CY2023 olma Effective Income Tax Rate Reconciliation Other Deferred Items Amount
EffectiveIncomeTaxRateReconciliationOtherDeferredItemsAmount
-750000
CY2022 olma Effective Income Tax Rate Reconciliation Other Deferred Items Amount
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308000
CY2023 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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63000
CY2022 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
28000
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24761000
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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25890000
CY2023 us-gaap Income Tax Expense Benefit
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2000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000
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DeferredTaxAssetsOperatingLossCarryforwards
44705000
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DeferredTaxAssetsOperatingLossCarryforwards
27449000
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DeferredTaxAssetsResearchAndDevelopment
20562000
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14992000
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5105000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
4786000
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DeferredTaxAssetsOther
1488000
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541000
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DeferredTaxAssetsGross
71860000
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47768000
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CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
341000
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
281000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
341000
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71579000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
47427000
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
71600000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
47400000
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24200000
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P20Y
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47427000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
21068000
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24152000
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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26359000
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
71579000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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47427000
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45247098
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39995460
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39995460
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-2.14
CY2022 us-gaap Earnings Per Share Basic
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-2.62
CY2022 us-gaap Earnings Per Share Diluted
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-2.62
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9168433
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9469922
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1297000
CY2022 us-gaap Operating Lease Cost
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1301000
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164000
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
49000
CY2023 us-gaap Variable Lease Cost
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140000
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
248000
CY2023 us-gaap Lease Cost
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1601000
CY2022 us-gaap Lease Cost
LeaseCost
1598000
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1231000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
1274000
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896000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
297000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1162000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1245000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
263000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2670000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
253000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2417000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
988000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1429000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y3M
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y8M23D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.09
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.087

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