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Olema Pharmaceuticals ( (OLMA) ) has issued an announcement.
On May 21, 2026, Olema Oncology reported preliminary Phase 1 data for OP-3136, an oral KAT6 inhibitor, in heavily pretreated patients with ER+/HER2- advanced breast cancer, metastatic castration-resistant prostate cancer, and metastatic non-small cell lung cancer, ahead of a poster presentation at the ASCO meeting on May 30, 2026. The monotherapy was well tolerated up to 45 mg with no dose-limiting toxicities or treatment discontinuations due to adverse events, and showed tumor shrinkage in 13 of 19 evaluable patients, including three partial responses, alongside clear target engagement and predictable pharmacokinetics that support continued development and potential combination use with endocrine therapies such as palazestrant.
The data cut-off on March 2, 2026 captured 32 patients, 11 of whom remained on treatment, with the longest treatment duration reaching 62 weeks. Olema will also highlight its broader pipeline strategy at ASCO through a trial-in-progress poster for OPERA-02, a Phase 3 study of palazestrant plus ribociclib as first-line therapy in ER+/HER2- metastatic breast cancer, underscoring the company’s push to establish a differentiated position in endocrine-driven solid tumors.
The most recent analyst rating on (OLMA) stock is a Buy with a $52.00 price target. To see the full list of analyst forecasts on Olema Pharmaceuticals stock, see the OLMA Stock Forecast page.
Spark’s Take on OLMA Stock
According to Spark, TipRanks’ AI Analyst, OLMA is a Neutral.
The score is primarily constrained by weak financial performance (pre-revenue, widening losses, and significant ongoing cash burn) and bearish technicals (below key moving averages with negative MACD). A low-debt balance sheet and a positive governance-related corporate event provide partial support, but valuation remains difficult given ongoing losses and no dividend.
To see Spark’s full report on OLMA stock, click here.
More about Olema Pharmaceuticals
Olema Oncology, the oncology-focused arm of Olema Pharmaceuticals, is a clinical-stage biopharmaceutical company developing targeted therapies for breast cancer and other endocrine-driven malignancies. Its lead candidate, palazestrant (OP-1250), an oral complete estrogen receptor antagonist and selective estrogen receptor degrader, is in two Phase 3 trials, while OP-3136, a KAT6 inhibitor, is in Phase 1 testing.
Average Trading Volume: 1,481,894
Technical Sentiment Signal: Hold
Current Market Cap: $1.22B
See more insights into OLMA stock on TipRanks’ Stock Analysis page.