Olema Oncology, Inc. (Nasdaq: OLMA) reported its financial results for the third quarter ended September 30, 2026, disclosing a net loss of $73.6 million for the period. This compares to a net loss of $42.2 million in the same quarter of the previous year. The company ended the quarter with $413.8 million in cash, cash equivalents, and marketable securities.
Research and development expenses for the quarter totaled $67.6 million on a GAAP basis, up from $40.0 million in Q3 2025. The increase was attributed to accelerated enrollment in the pivotal Phase 3 OPERA-01 and OPERA-02 trials, increased manufacturing and clinical supply activities, and higher personnel costs. General and administrative expenses were reported at $9.9 million for the quarter.
In corporate news, Olema appointed Jason O’Byrne, MBA, as Chief Financial Officer. The company also highlighted that it remains on track to announce top-line data from the pivotal Phase 3 OPERA-01 trial in the first quarter of 2027. Additionally, the company noted continued strong enrollment in the Phase 3 OPERA-02 trial and the Phase 1b/2 study of OP-3136.
