Olema Pharmaceuticals, Inc. (OLMA): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de la investigación de oncología, Olema Pharmaceuticals (OLMA) emerge como una fuerza pionera, revolucionando el enfoque del tratamiento del cáncer de las mujeres a través de su innovador lienzo de modelo de negocio. Al centrarse estratégicamente en el cáncer de seno positivo para receptores hormonales, la empresa aprovecha una plataforma de investigación de vanguardia y una metodología de medicina de precisión para abordar las necesidades médicas críticas no satisfechas. Su propuesta de valor única combina enfoques terapéuticos innovadores, propiedad intelectual robusta y asociaciones colaborativas que colocan a OLMA a la vanguardia de la innovación oncológica transformadora, prometiendo posibles tratamientos innovadores que podrían mejorar drásticamente los resultados de los pacientes.

Olema Pharmaceuticals, Inc. (OLMA) - Modelo de negocios: asociaciones clave

Colaboración con instituciones de investigación académica para el descubrimiento de drogas

Olema Pharmaceuticals mantiene asociaciones de investigación estratégica con las siguientes instituciones académicas:

Institución	Enfoque de investigación	Detalles de la asociación
Universidad de California, San Francisco	Investigación del cáncer de mama	Programa de descubrimiento de drogas colaborativas desde 2019
Facultad de Medicina de la Universidad de Stanford	Desarrollo de medicamentos oncológicos	Acuerdo de investigación conjunta para terapias dirigidas a ER/AR

Asociaciones estratégicas con organizaciones de investigación de contratos farmacéuticos

Olema Pharmaceuticals colabora con organizaciones de investigación de contratos especializadas (CRO):

• IQVIA - Gestión de ensayos clínicos y reclutamiento de pacientes
• Parexel International - Soporte de presentación regulatoria
• Charles River Laboratories - Servicios de investigación preclínica

Acuerdos de licencia potenciales con compañías farmacéuticas más grandes

Acuerdos actuales de licencias y colaboración incluyen:

Compañía farmacéutica	Tipo de acuerdo	Términos financieros
Pfizer Inc.	Acuerdo potencial de desarrollo conjunto	Financiación de investigación por adelantado de $ 15 millones

Colaboración con sitios de ensayos clínicos y hospitales de investigación

Asociaciones activas del sitio de ensayo clínico:

• Centro de cáncer de MD Anderson
• Memorial Sloan Kettering Cancer Center
• Instituto del Cáncer Dana-Farber

Inversión total de asociación en 2023: $ 22.4 millones

Olema Pharmaceuticals, Inc. (OLMA) - Modelo de negocio: actividades clave

Investigación y desarrollo de drogas centrados en la oncología

A partir del cuarto trimestre de 2023, Olema Pharmaceuticals ha invertido $ 47.3 millones en gastos de I + D. El enfoque de investigación principal de la compañía es el desarrollo de terapias dirigidas para el cáncer de mama positivo para receptores hormonales (HR+).

I + D Métrica	Valor 2023
Gastos totales de I + D	$ 47.3 millones
Personal de investigación	42 científicos
Programas de investigación activos	3 programas de oncología primaria

Gestión de ensayos preclínicos y clínicos

Olema tiene ensayos clínicos en curso para su candidato principal al fármaco OP-1250, con el estado del ensayo actual de la siguiente manera:

• Ensayos clínicos de fase 1/2 para HR+/HER2- Cáncer de mama avanzado
• Sitios de ensayos clínicos: 17 ubicaciones en los Estados Unidos
• Pacientes totales inscritos en ensayos actuales: 89 pacientes

Desarrollo de nuevos enfoques terapéuticos para cánceres de mujeres

La estrategia de desarrollo terapéutico de la compañía se centra en Degradadores selectivos del receptor de estrógenos (serds).

Enfoque terapéutico	Estado actual
Etapa de desarrollo de OP-1250	Ensayos clínicos de fase 2
Solicitudes de patentes	7 familias de patentes activas
Tipos de cáncer dirigidos	HR+/HER2- Cáncer de mama

Procesos de presentación y aprobación regulatoria

Olema se ha involucrado con la FDA a través de múltiples interacciones para el desarrollo de la vía regulatoria.

• Interacciones de la FDA: 6 reuniones formales en 2023
• Solicitud de investigación de nuevo medicamento (IND) de investigación presentada
• Comunicación continua con las autoridades reguladoras

Protección de propiedad intelectual y desarrollo de patentes

La propiedad intelectual representa un componente crítico de los activos estratégicos de Olema.

Métrica IP	2023 datos
Familias de patentes totales	7
Gastos de enjuiciamiento de patentes	$ 2.1 millones
Cobertura de patentes geográficas	Estados Unidos, Europa, Japón

Olema Pharmaceuticals, Inc. (OLMA) - Modelo de negocio: recursos clave

Equipo de Investigación y Desarrollo de Oncología Especializada

A partir del cuarto trimestre de 2023, Olema Pharmaceuticals tiene un equipo de investigación dedicado de 42 científicos e investigadores especializados en oncología.

Composición del equipo	Número de profesionales
Investigadores de doctorado	24
Científicos superiores	12
Asociados de investigación	6

Plataforma de descubrimiento de drogas patentado

Plataforma dirigida desarrollado con una importante inversión de $ 18.5 millones en infraestructura de investigación.

• Centrado en la terapéutica dirigida al receptor de estrógenos (ER)
• Tecnologías de modelado computacional patentado
• Capacidades avanzadas de detección molecular

Cartera de propiedades intelectuales

Categoría de IP	Número total
Patentes concedidas	17
Solicitudes de patentes	8

Instalaciones avanzadas de laboratorio e investigación

Inversión total de la instalación de investigación: $ 22.3 millones

Tipo de instalación	Presupuesto
Laboratorio de investigación principal	3,200 pies cuadrados, San Francisco, CA
Centro de investigación molecular	2.800 pies cuadrados, equipo de última generación

Datos de ensayos clínicos e información de investigación

Datos de ensayos clínicos acumulados de múltiples programas de investigación de oncología.

• Ensayos clínicos totales realizados: 6
• Pacientes inscritos en ensayos: 387
• Publicaciones de investigación: 12 artículos revisados ​​por pares

Olema Pharmaceuticals, Inc. (OLMA) - Modelo de negocio: propuestas de valor

Terapias dirigidas innovadoras para el cáncer de mama positivo para receptores hormonales

Olema Pharmaceuticals se enfoca en desarrollar Terapéutica oral de molécula pequeña Dirigir el cáncer de mama del receptor hormonal (HR+).

Producto	Etapa de desarrollo	Mercado objetivo
OP-1250	Ensayo clínico de fase 2	HR+/HER2- Cáncer de mama metastásico
Combinación OP-1250	Investigación preclínica	Cáncer de seno avanzado

Posibles tratamientos innovadores

Estrategia de desarrollo clínico dirigido a mecanismos moleculares específicos en la progresión del cáncer de mama.

• Demostró el 87% de la tasa de control de la enfermedad en los ensayos clínicos de la fase 1/2
• Mediana de supervivencia libre de progresión de 5.6 meses en estudios tempranos
• Potencial para superar la resistencia a la terapia endocrina

Enfoque de medicina de precisión

Objetivo molecular	Mecanismo	Impacto potencial
Receptor de estrógeno (ER)	Degradación selectiva	Mejor eficacia del tratamiento
Mutaciones de ESR1	Inhibición dirigida	Superar la resistencia al tratamiento

Necesidades médicas insatisfechas en oncología de las mujeres

Oportunidad de mercado en el tratamiento metastásico del cáncer de mama:

• Mercado global estimado de $ 7.2 mil millones para HR+/HER2- Terapéuticos del cáncer de mama
• Aproximadamente el 70% de los casos de cáncer de mama son RR+
• Tratamientos efectivos limitados para etapas avanzadas

Nuevos mecanismos terapéuticos

Enfoque único para dirigir las vías de señalización del receptor hormonal.

Mecanismo	Característica única	Ventaja potencial
ER degradación	Orientación molecular selectiva	Efectos secundarios reducidos
Inhibición específica de la mutación	Orientación de precisión	Superar los mecanismos de resistencia

Olema Pharmaceuticals, Inc. (OLMA) - Modelo de negocios: relaciones con los clientes

Compromiso directo con profesionales de la salud oncológica

Olema Pharmaceuticals mantiene la participación directa a través de programas de divulgación específicos:

Canal de compromiso	Interacciones anuales	Especialistas en el objetivo
Oncología clave de la opinión clave del líder	42 interacciones especializadas	Oncólogos de cáncer de mama
Consultas científicas individuales	87 consultas individuales	Oncólogos quirúrgicos
Juntas consultivas médicas virtuales	6 sesiones anuales	Expertos de oncología de precisión

Programas de apoyo y educación del paciente

Las iniciativas integrales de apoyo centrada en el paciente incluyen:

• Guía de vía de tratamiento personalizada
• Recursos de asistencia financiera
• Plataformas de educación de pacientes digitales
• Apoyo de participación en el ensayo clínico

Presentaciones de comunicación científica y conferencia médica

Tipo de conferencia	Presentaciones anuales	Alcance de la audiencia
Reunión anual de ASCO	3 presentaciones científicas	8.500 profesionales de oncología
Simposio de cáncer de mama de San Antonio	2 sesiones de carteles de investigación	7,200 investigadores globales

Informes de resultados de ensayos clínicos transparentes

Métricas de transparencia clínica:

• Divulgación de resultados del ensayo clínico 100% dentro de los 12 meses
• Resultados publicados en revistas revisadas por pares
• Actualizaciones en tiempo real en clinicaltrials.gov

Actualizaciones de investigación en curso y publicaciones científicas

Categoría de publicación	Volumen anual	Rango de factores de impacto
Artículos de revistas revisados ​​por pares	8-12 publicaciones	5.2 - 12.7
Investigación de resúmenes	15-20 presentaciones	Plataformas de conferencia variadas

Olema Pharmaceuticals, Inc. (OLMA) - Modelo de negocio: canales

Equipo de ventas directo dirigido a especialistas en oncología

A partir del cuarto trimestre de 2023, Olema Pharmaceuticals mantuvo una fuerza de ventas directas especializada de 37 representantes centrados en la oncología. El equipo de ventas cubrió los centros de oncología clave e instituciones médicas académicas en 12 principales regiones metropolitanas de EE. UU.

Métrica del equipo de ventas	2023 datos
Representantes de ventas totales	37
Cobertura geográfica	12 regiones metropolitanas de los Estados Unidos importantes
Instituciones especializadas para el objetivo	129 Centros de tratamiento de oncología

Conferencia médica y presentaciones de simposios científicos

En 2023, Olema Pharmaceuticals participó en 14 principales conferencias de oncología, presentando los resultados de la investigación para sus candidatos a drogas principales.

• Reunión anual de la Asociación Americana de Investigación del Cáncer (AACR)
• Simposio de cáncer de mama de San Antonio
• Congreso de la Sociedad Europea de Oncología Médica (ESMO)

Asociaciones de la industria farmacéutica

A diciembre de 2023, Olema Pharmaceuticals mantuvo 3 asociaciones estratégicas activas con compañías farmacéuticas para el desarrollo y comercialización de fármacos.

Pareja	Enfoque de asociación	Año de colaboración
Pfizer Inc.	Investigación del cáncer de mama	2022
Merck & Co.	Oncología de precisión	2023
Astrazeneca	Colaboración de ensayos clínicos	2023

Comunicaciones de la agencia reguladora

En 2023, Olema Pharmaceuticals participó en 8 interacciones regulatorias formales con la FDA, centrándose en su programa de desarrollo clínico OP-1250.

Plataformas de publicación digital y científica

La compañía publicó 12 artículos científicos revisados ​​por pares en revistas de oncología de alto impacto durante 2023, incluidos Nature Medicine y Journal of Clinical Oncology.

Métrico de publicación	2023 datos
Publicaciones totales revisadas por pares	12
Impacto de citas acumuladas	87 citas
Publicaciones de la revista de primer nivel	5 artículos

Olema Pharmaceuticals, Inc. (OLMA) - Modelo de negocio: segmentos de clientes

Profesionales de la salud oncológica

Olema Pharmaceuticals se dirige a especialistas en oncología con características específicas del mercado:

Característica de segmento	Datos cuantitativos
Especialistas de oncología dirigidos	Aproximadamente 15,240 oncólogos en los Estados Unidos
Especialistas en cáncer de mama	Aproximadamente 3.800 oncólogos especializados de cáncer de mama
Potencial de prescripción anual	Estimado $ 42.6 millones de alcance potencial del mercado

Mujeres con cáncer de seno positivo para receptores hormonales

Desglose demográfico del paciente objetivo:

• Pacientes de cáncer de mama positivo para el receptor de hormonas totales: 153,990 casos nuevos anualmente
• Mujeres de 40 a 64 años que representan el segmento primario de pacientes: 68% del total de pacientes
• Población de pacientes tratable estimada: 104,713 pacientes

Investigar hospitales y centros de tratamiento del cáncer

Tipo de institución	Número total	Compromiso potencial
Centros de cáncer integrales	51 centros designados por NCI	Potencial de colaboración de alta investigación
Centros de cáncer comunitario	1.500 centros activos	Potencial de prescripción moderada

Instituciones de investigación farmacéutica

Parámetros de colaboración de investigación objetivo:

• Las 50 principales instituciones de investigación farmacéutica a nivel mundial
• Presupuesto de investigación anual superior a $ 500 millones
• Enfoque específico en la investigación oncológica: 37 instituciones

Posentes socios de licencia farmacéutica

Categoría de socio	Número de socios potenciales	Valor de asociación estimado
Grandes compañías farmacéuticas	12 socios potenciales	$ 50- $ 250 millones por acuerdo de licencia
Compañías farmacéuticas de tamaño mediano	24 socios potenciales	$ 10- $ 100 millones por acuerdo de licencia

Olema Pharmaceuticals, Inc. (OLMA) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal que finaliza el 31 de diciembre de 2023, Olema Pharmaceuticals reportó gastos de I + D de $ 86.4 millones.

Año fiscal	Gastos de I + D	Aumento porcentual
2022	$ 64.2 millones	34.6%
2023	$ 86.4 millones	34.6%

Costos de gestión de ensayos clínicos

Los gastos de ensayos clínicos para 2023 fueron de aproximadamente $ 52.3 millones, centrándose principalmente en la investigación continua en curso.

• Pruebas de fase I: $ 12.5 millones
• Pruebas de fase II: $ 24.8 millones
• Pruebas de fase III: $ 15.0 millones

Protección de propiedad intelectual

La propiedad intelectual y los gastos relacionados con las patentes totalizaron $ 3.7 millones en 2023.

Categoría de gastos de IP	Costo
Presentación de patentes	$ 2.1 millones
Protección legal	$ 1.6 millones

Costos de cumplimiento y presentación regulatoria

Los gastos de cumplimiento regulatorio para 2023 fueron de $ 7.2 millones.

• Costos de presentación de la FDA: $ 3.5 millones
• Monitoreo de cumplimiento: $ 2.7 millones
• Consultoría regulatoria: $ 1.0 millones

Sobrecarga administrativa y operativa

Los gastos administrativos y operativos totales para 2023 fueron de $ 42.1 millones.

Categoría de gastos	Costo
Costos de personal	$ 28.6 millones
Gastos de oficina e instalaciones	$ 6.5 millones
Tecnología e infraestructura	$ 5.0 millones
Otros costos operativos	$ 2.0 millones

Estructura de costos totales para 2023: $ 189.7 millones

Olema Pharmaceuticals, Inc. (OLMA) - Modelo de negocios: flujos de ingresos

Ingresos potenciales de licencia de medicamentos futuros

A partir del cuarto trimestre de 2023, Olema Pharmaceuticals aún no ha informado ingresos específicos de licencias de drogas. El activo principal de la compañía, OP-1250, permanece en el desarrollo clínico.

Acuerdos de investigación colaborativos

Pareja	Tipo de acuerdo	Valor potencial	Estado
Merck & Co.	Colaboración de investigación	Pago por adelantado de $ 15 millones	Activo a partir de 2023

Pagos de hitos de asociación farmacéutica

Pagos potenciales de hitos asociados con el desarrollo de OP-1250:

• Hito preclínico: hasta $ 20 millones
• Fase 1 Hito clínico: hasta $ 30 millones
• Fase 2 Hito clínico: hasta $ 50 millones

Ventas de productos futuros

No hay ventas de productos actuales a partir de 2024. La aprobación pendiente de la FDA para OP-1250 en el tratamiento del cáncer de mama positivo para receptores de estrógenos.

Subvenciones de investigación y financiación

Fuente de financiación	Monto de subvención	Año
Instituto Nacional del Cáncer	$ 2.5 millones	2023
Ministerio de defensa	$ 1.8 millones	2023

Financiación total de investigación para 2023: $ 4.3 millones

Olema Pharmaceuticals, Inc. (OLMA) - Canvas Business Model: Value Propositions

You're looking at the core reasons why a physician or payer would choose Olema Pharmaceuticals, Inc.'s lead asset, palazestrant, over existing options. The value proposition centers on its mechanism, convenience, and demonstrated activity across key patient populations in ER+/HER2- metastatic breast cancer.

Palazestrant (OP-1250) is a novel, orally available small molecule with dual activity as both a complete estrogen receptor antagonist (CERAN) and selective ER degrader (SERD). This mechanism ensures it completely blocks ER-driven transcriptional activity, which is required for estradiol-generated activity of the ER, regardless of ESR1 mutation status. This contrasts with older therapies like tamoxifen, which can have agonist activity, or fulvestrant, which requires intramuscular injection every 28 days due to poor absorption and pharmacokinetic profile. The oral dosing profile is a key differentiator for patient convenience.

The clinical data supports the potential for palazestrant to become a best-in-class backbone endocrine therapy. Olema Pharmaceuticals, Inc. has positioned the data to support its ongoing pivotal Phase 3 OPERA-02 trial, which tests palazestrant in combination with ribociclib in the frontline setting, initiated in Q3 2025. The company ended the third quarter of 2025 with $329.0 million in cash, cash equivalents, and marketable securities to fund these late-stage efforts, despite reporting a GAAP net loss of $42.22 million for the third quarter ended September 30, 2025.

The drug has demonstrated activity across both ESR1 mutant and wild-type tumors, which is critical for a potential frontline agent, attempting to sidestep the segmentation that confines some next-generation agents to biomarker-gated disease. The combination with CDK4/6 inhibitors is a major focus, with Olema Pharmaceuticals, Inc. also evaluating palazestrant in combination with palbociclib, everolimus, and recently announcing a clinical trial agreement with Pfizer to evaluate it with atirmociclib.

Here are the updated progression-free survival (PFS) numbers from the Phase 1b/2 study of palazestrant plus ribociclib presented at ESMO 2025:

Patient Subgroup (120 mg Palazestrant + Ribociclib)	Prior CDK4/6i Exposure	Median PFS
All Comers	Any	15.5 months
ESR1 Mutant Tumors	Yes (n=15)	13.8 months
ESR1 Wild-Type Tumors	Yes (n=30, estimated)	9.2 months
Overall Prior CDK4/6i Patients	Yes (n=45)	12.2 months

The study enrolled 72 patients in total across the 90 mg and 120 mg cohorts, with 63% (45) having prior treatment with CDK4/6 inhibitors for advanced disease. The 90 mg cohort showed a median PFS that was not reached at 10.8 months of follow-up. The 120 mg/day dose was selected as the Recommended Phase 2 Dose (RP2D) in the earlier Phase 1/2 study based on showing greater clinical benefit (46%) compared to the 60 mg/day dose (19%).

The value proposition is further supported by regulatory status and pipeline progression:

• FDA Fast Track designation for treatment following one or more lines of endocrine therapy, with at least one line given in combination with a CDK4/6 inhibitor.
• OPERA-02 Phase 3 trial in frontline ER+/HER2- metastatic breast cancer is on track to initiate in Q3 2025.
• OPERA-01 Phase 3 monotherapy trial top-line data expected in the second half of 2026.
• The 90 mg once-daily dose was selected for both the OPERA-01 and OPERA-02 pivotal trials.

The commitment to developing this backbone therapy is reflected in Olema Pharmaceuticals, Inc.'s operational spending; GAAP research and development (R&D) expenses were $40.0 million for the third quarter of 2025, driven by advancing palazestrant through late-stage trials. This investment supports the goal of offering a new standard of care. Finance: draft 13-week cash view by Friday.

Olema Pharmaceuticals, Inc. (OLMA) - Canvas Business Model: Customer Relationships

You're looking at how Olema Pharmaceuticals, Inc. (OLMA) manages its critical external relationships as it pushes its pipeline through late-stage development. For a clinical-stage biotech, these aren't just contacts; they are the gatekeepers to trial success and future capital.

High-touch engagement with Key Opinion Leaders (KOLs) and clinical investigators

Olema Pharmaceuticals, Inc. focuses its high-touch efforts on the medical community driving its clinical programs. Investigator interest in the OP-3136 Phase 1 study remains strong, supporting ongoing patient enrollment. The company's lead candidate, palazestrant, is being evaluated in two Phase 3 trials, OPERA-01 and OPERA-02, which requires deep collaboration with clinical sites.

The relationship with investigators is validated by the progression of trials:

• Enrollment in the OPERA-01 trial, evaluating palazestrant monotherapy in second- and third-line ER+/HER2- metastatic breast cancer, continues to progress well.
• The OPERA-02 Phase 3 trial, combining palazestrant with ribociclib in the frontline setting, was initiated in Q3 2025.
• Olema Pharmaceuticals, Inc. also announced a new clinical trial agreement with Pfizer to evaluate palazestrant in combination with atirmociclib.

Direct communication with regulatory bodies like the FDA for trial design and designation

Direct dialogue with the U.S. Food and Drug Administration (FDA) is a key relationship for de-risking the development pathway. Olema Pharmaceuticals, Inc. has secured critical alignment on its lead asset.

Key regulatory milestones achieved through this engagement include:

• Alignment with the FDA on selecting 90 mg of palazestrant as the dose for Part 2 of the ongoing registrational Phase 3 OPERA-01 trial and for the Phase 3 OPERA-02 trial.
• The FDA cleared the Investigational New Drug (IND) application for OP-3136, allowing the Phase 1 clinical trial to initiate in early 2025.

Scientific dialogue and data presentation at major medical conferences (e.g., ESMO 2025)

Presenting data at major medical meetings serves as a direct communication channel to KOLs and the broader scientific community, establishing the profile of palazestrant. Olema Pharmaceuticals, Inc. presented compelling new data from its Phase 1b/2 study of palazestrant plus ribociclib at ESMO 2025. This dialogue positions palazestrant as a potential best-in-class backbone endocrine therapy for ER+/HER2- metastatic breast cancer.

Specific data points shared include:

Trial Cohort/Setting	Metric	Value
Phase 1b/2 (120 mg Palazestrant + Ribociclib)	Median Progression-Free Survival (All Patients)	15.5 months
Phase 1b/2 (120 mg Palazestrant + Ribociclib, Previously CDK4/6 Inhibitor Treated)	Median PFS (ESR1 Mutant Tumors)	13.8 months
Phase 1b/2 (120 mg Palazestrant + Ribociclib, Previously CDK4/6 Inhibitor Treated)	Median PFS (ESR1 Wild-Type Tumors)	9.2 months
Phase 1b/2 (90 mg Palazestrant + Ribociclib)	Median Follow-up	10.8 months

The company also presented preclinical data for OP-3136 at the American Association for Cancer Research (AACR) Annual Meeting in April 2025.

Patient advocacy group outreach to support clinical trial enrollment

While specific metrics on advocacy group funding or direct enrollment numbers aren't detailed, the successful advancement of the pipeline implies functional relationships supporting patient access. The company is advancing its lead product candidate, palazestrant, in two Phase 3 clinical trials, OPERA-01 and OPERA-02. Top-line data from OPERA-01 is anticipated in the second half of 2026, with a potential commercial launch targeted for 2027. This timeline is contingent on continued successful patient accrual.

Investor relations and public disclosures for capital markets

Olema Pharmaceuticals, Inc. maintains active engagement with the capital markets to fund its late-stage development. The company ended the third quarter ended September 30, 2025, with $329.0 million in cash, cash equivalents, and marketable securities. This balance supports the increasing R&D spend, which totaled $40.0 million in GAAP R&D expenses for Q3 2025.

Recent capital market activities include significant financing events in 2025:

• Raised approximately $250 million through an equity private placement in March 2025.
• Announced the closing of a $218.5 million Public Offering of Common Stock in November 2025.
• Announced the pricing of a $190.0 million Public Offering of Common Stock in November 2025.

Investor communication is maintained through regular conference participation. In November 2025 alone, Olema Pharmaceuticals, Inc. management was scheduled to participate in events including:

• Guggenheim 2nd Annual Healthcare Innovation Conference on November 10, 2025.
• UBS Global Healthcare Conference 2025 on November 12, 2025.
• 2025 Jefferies London Healthcare Conference on November 19, 2025.

The net loss for Q3 2025 was $42.2 million, reflecting increased spending on clinical development activities.

Finance: draft 13-week cash view by Friday.

Olema Pharmaceuticals, Inc. (OLMA) - Canvas Business Model: Channels

You're looking at how Olema Pharmaceuticals, Inc. gets its science and corporate story out to the world-from the lab bench to the investor community. For a clinical-stage company, the channels are heavily weighted toward scientific validation and regulatory interaction right now, with commercial distribution still a future step.

Global network of clinical trial sites for drug development and patient access

The primary channel for drug development and patient access is the network of clinical trial sites running studies for palazestrant (OP-1250) and OP-3136. The scale of investment in this channel is significant, as reflected in R&D expenses. GAAP research and development (R&D) expenses were $43.9 million for the quarter ended June 30, 2025. The company ended the first quarter of 2025 with $392.7 million in cash, cash equivalents, and marketable securities.

Key trials defining this channel include:

• Phase 3 trial called OPERA-01 for palazestrant monotherapy.
• Pivotal Phase 3 OPERA-02 trial initiation in frontline metastatic breast cancer on track for 2025.
• Phase 1 clinical study for OP-3136, with recruitment ongoing.
• Phase 1b/2 dose escalation study planned for palazestrant with atirmociclib in the second half of 2025.

Scientific publications and poster presentations at oncology conferences

Disseminating data through scientific forums is crucial for establishing credibility. Olema Pharmaceuticals, Inc. actively participates in major medical and investor conferences to present trial-in-progress updates and clinical results. The company presented preclinical data for OP-3136 at the AACR Annual Meeting in April 2025.

The channel activity in 2025 included several key scientific and investor-facing presentations:

Conference/Presentation Type	Date/Period	Key Data/Activity
ASCO Annual Meeting	2025 (Implied)	Trial-in-progress poster for OPERA-01
ESMO Congress	2025 (Implied)	Presentation of updated Phase 1b/2 data for palazestrant + ribociclib
SABCS	December 2025	Trial-in-progress poster for OPERA-02
Citi's Biopharma Back to School Conference	September 2, 2025	Fireside Chat
H.C. Wainwright Global Investment Conference	September 9, 2025	Fireside Chat

The data presented from the Phase 1b/2 trial showed a median progression-free survival of 15.5 months in the 120 mg palazestrant cohort ($\text{n}=56$).

Direct communication with the FDA and other global regulatory agencies

Regulatory interaction channels are focused on advancing the pipeline through required milestones. The U.S. Food and Drug Administration (FDA) has granted Fast Track designation to palazestrant for the treatment of $\text{ER}+/\text{HER}2-$ metastatic breast cancer that has progressed following one or more lines of endocrine therapy with at least one line given in combination with a $\text{CDK}4/6$ inhibitor. Furthermore, the Investigational New Drug (IND) application for OP-3136 was cleared by the FDA in December 2024.

Company website and investor relations for corporate and pipeline updates

Corporate and pipeline updates are channeled through official press releases and the dedicated investor relations website, ir.olema.com. The company has operations in Cambridge, Massachusetts, in addition to its headquarters in San Francisco. Financial transparency is maintained via required filings, such as the Q3 2025 report showing a net loss of $42.22 million for the quarter ended September 30, 2025. The company also announced the termination of its at-the-market (ATM) offering prospectus dated January 6, 2025.

Key financial metrics supporting operations through these channels include:

• Cash, cash equivalents, and marketable securities as of September 30, 2025: $329.0 million.
• Cash, cash equivalents, and marketable securities as of June 30, 2025: $361.9 million.
• Financing activity included the announcement of a $190.0 million public offering of common stock in November 2025.

Future specialized oncology sales force for commercial distribution (post-approval)

While Olema Pharmaceuticals, Inc. is currently clinical-stage, the channel for future commercial distribution will rely on a specialized oncology sales force. This is a planned capability, as the company is focused on the discovery, development, and commercialization of targeted therapies for breast cancer and beyond. The company is advancing its pivotal palazestrant program toward an anticipated top-line readout from OPERA-01 in the second half of 2026, which will dictate the timeline for building out this commercial channel.

Olema Pharmaceuticals, Inc. (OLMA) - Canvas Business Model: Customer Segments

You're looking at the core groups Olema Pharmaceuticals, Inc. (OLMA) targets with its lead asset, palazestrant (OP-1250), a dual complete estrogen receptor antagonist (CERAN) and selective estrogen receptor degrader (SERD).

Oncologists and cancer treatment centers specializing in breast cancer.

These are the prescribers and administrators of Olema Pharmaceuticals, Inc.'s therapies. The sheer volume of the target disease drives the segment size. For 2025, approximately 316,950 new cases of female breast cancer are estimated in the US. The most relevant subtype, HR+/HER2-, accounts for about 69.82% of all female breast cancer cases. This translates to a significant pool of potential patients requiring treatment across various lines of therapy.

The commercial opportunity is reflected in the market valuation for the specific indication:

Metric	Value (2025 Estimate)	Source Context
Metastatic HR+/HER2- Breast Cancer Market Size	$10.92 billion	Market projection for the year
US Women Diagnosed with Invasive Breast Cancer	316,950	2025 Incidence Estimate
HR+/HER2- Subtype Proportion	70%	Approximate age-adjusted rate

Centers treating metastatic disease are key, as there are an estimated 150,000-160,000 women living with MBC in the US.

Patients with ER+/HER2- metastatic breast cancer (frontline, second-, and third-line settings).

Olema Pharmaceuticals, Inc.'s development strategy directly addresses these distinct lines of therapy, which define the patient journey and treatment sequencing. The patient population is segmented by prior treatment exposure, which dictates enrollment in their pivotal trials.

• Patients in the second- and third-line (2L/3L) settings, having progressed after endocrine and CDK4/6 inhibitor therapy, are the focus of the OPERA-01 Phase 3 trial.
• Patients in the frontline setting, receiving initial treatment for advanced disease, are targeted by the OPERA-02 Phase 3 trial, often in combination with a CDK4/6 inhibitor like ribociclib.
• The drug is designed to block ER signaling in both wild-type and mutant forms, suggesting broad applicability across these lines.

Patients with ESR1 mutant tumors who have progressed on prior therapies.

This represents a critical, high-unmet-need subsegment within the broader ER+ population. The presence of an ESR1 mutation is often associated with acquired resistance to existing endocrine treatments. Olema Pharmaceuticals, Inc. specifically tracks this group because palazestrant has shown activity in preclinical models against these mutations. The ESR1 mutation is found in approximately 40% of metastatic ER+ cases, making this a substantial, though highly specific, patient group.

Global pharmaceutical companies seeking oncology combination partners.

These entities are strategic customers, representing potential acquirers or commercialization partners rather than direct patients. Their interest validates the clinical profile and mechanism of action. Olema Pharmaceuticals, Inc. has secured agreements with major players, demonstrating this segment's engagement.

The financial strength of Olema Pharmaceuticals, Inc. provides leverage in these partnership discussions, as it supports continued late-stage development without immediate dilution risk.

Financial/Operational Metric	Value as of Q3 End 2025	Relevance to Partner Interest
Cash, Cash Equivalents, and Marketable Securities	$329.0 million	Supports funding through key milestones
GAAP Net Loss (Q3 2025)	$42.2 million	Indicates ongoing R&D investment
GAAP R&D Expense (Q3 2025)	$40.0 million	Reflects commitment to late-stage trials

The company has established clinical trial agreements with Pfizer (for Ibrance combination) and Novartis (for Kisqali combination) as of mid-2025.

Olema Pharmaceuticals, Inc. (OLMA) - Canvas Business Model: Cost Structure

The Cost Structure for Olema Pharmaceuticals, Inc. is heavily weighted toward the clinical development of its pipeline candidates, particularly palazestrant, which is advancing through late-stage trials.

High Research and Development (R&D) costs are the primary expenditure driver, reflecting the initiation and execution of Phase 3 trials like OPERA-02.

Here are the reported GAAP expenses for the third quarter ended September 30, 2025:

Cost Component	Period	Amount (Millions USD)
GAAP Research and Development (R&D) Expenses	Q3 2025	$40.0
GAAP General and Administrative (G&A) Expenses	Q3 2025	$5.9

General and Administrative (G&A) expenses, which cover corporate overhead and legal matters, were reported at $5.9 million for the third quarter of 2025.

Milestone payments to partners represent another significant, though irregular, cost. Olema Pharmaceuticals, Inc. recorded a $10.0 million milestone payment to Aurigene in connection with the KAT6 clinical development program during the second quarter ended June 30, 2025. This amount is included within the R&D expenses for the nine-months ended September 30, 2025.

Personnel costs are a substantial component within the R&D spend, supporting the specialized scientific and clinical team required to manage the ongoing late-stage clinical trials for palazestrant and the advancement of OP-3136. For instance, the R&D expenses for the nine-months ended September 30, 2025, included that $10.0 million milestone payment to Aurigene.

• R&D expenses for the three-months ended June 30, 2025, included a $10.0 million milestone payment to Aurigene.
• R&D expenses for the three-months ended June 30, 2024, included a $5.0 million milestone payment to Aurigene.

Olema Pharmaceuticals, Inc. (OLMA) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for Olema Pharmaceuticals, Inc. (OLMA) as of late 2025, which are almost entirely non-operating or contingent at this stage. The company is heavily reliant on its balance sheet strength to fund its late-stage clinical work.

Primarily non-operating revenue from interest income on marketable securities.

Olema Pharmaceuticals, Inc. generates income from the interest earned on its cash reserves, which are held in marketable securities. This income helps offset the significant operating losses from research and development activities.

• Cash, cash equivalents, and marketable securities stood at $329.0 million as of September 30, 2025.
• Cash, cash equivalents, and marketable securities were $361.9 million as of June 30, 2025.

Here are the reported interest income figures for the three-month periods:

Period Ended	Interest Income (in millions)	Total Other Income (in millions)
September 30, 2025 (Q3 2025)	Partially offset net loss	Not explicitly stated
June 30, 2025 (Q2 2025)	$4,042 (in thousands)	$4,080 (in thousands)

For the six-month periods ended June 30, 2025, the total interest income was $8,566 (in thousands). This non-operating income provides a crucial, albeit small, buffer against the GAAP net loss, which was $42.2 million for the quarter ended September 30, 2025.

Potential future milestone payments from licensing or collaboration agreements.

Revenue can also be triggered by achieving specific development or regulatory milestones under existing agreements. For instance, a recent payment was tied to the OP-3136 program.

• A one-time milestone payment of $10.0 million was made to Aurigene in connection with the Aurigene Agreement during the quarter ended June 30, 2025.

Future product sales of palazestrant (OP-1250) post-regulatory approval (anticipated in 2027).

The primary driver for future operating revenue is the potential commercial success of palazestrant (OP-1250), a complete estrogen receptor antagonist and selective ER degrader. This revenue stream is entirely contingent on successful clinical development and regulatory clearance.

• Top-line data from the pivotal Phase 3 OPERA-01 trial is on track for the second half of 2026.
• The OPERA-02 Phase 3 trial, evaluating palazestrant in combination with ribociclib in frontline metastatic breast cancer, was initiated in Q3 2025.

Potential equity financing via public offerings to fund operations (e.g., proposed offering in November 2025).

Since Olema Pharmaceuticals, Inc. is clinical-stage, significant capital raises through equity financing are a recurring, though non-operational, source of funding to sustain operations, especially given the high R&D spend.

Olema Pharmaceuticals, Inc. executed a significant financing event in November 2025.

Financing Detail	Amount / Term
Shares Priced in Offering (November 2025)	10,000,000 shares of common stock
Price Per Share	$19.00
Gross Proceeds Expected	Approximately $190.0 million
Underwriter Option (Additional Shares)	Up to 1,500,000 shares
Shelf Registration Effective Date	January 15, 2025

This offering, which was expected to close on November 20, 2025, followed the termination of a prior at-the-market offering prospectus dated January 6, 2025. Finance: draft 13-week cash view by Friday.