New York, January 29, 2026, 14:50 EST — Regular session ongoing
- Olema shares jumped roughly 6% in afternoon trading, defying the broader market’s downward trend
- The clinical-stage biotech’s key upcoming catalyst hinges on the progress and timing of its late-stage palazestrant trial
- Traders are eyeing Olema’s upcoming results update in March
Shares of Olema Pharmaceuticals Inc climbed 5.8% to $25.99 Thursday afternoon, boosting its market cap by roughly $127 million. Trading volume hit around 926,000 shares, with the stock swinging between $24.35 and $26.56.
The shift happened amid uneven risk appetite: the Nasdaq-tracking QQQ fund dropped roughly 1.2%, and the S&P 500’s SPY slipped about 0.6% during the session. The biotech-focused XBI fund, however, saw a slight gain.
Why it matters now: Olema remains a clinical-stage firm, meaning its shares often swing sharply based on changes in trial timelines, data quality, or funding updates. Its main drug candidate, palazestrant (OP-1250), is an oral treatment targeting hormone-driven breast cancer. The company is also working on OP-3136, still in early development. (Reuters)
Olema reported in a January SEC filing that its preliminary, unaudited cash, cash equivalents, and marketable securities topped $500 million as of Dec. 31, 2025, before wrapping up its year-end close. (SEC)
CEO Sean P. Bohen confirmed in the latest quarterly update that the company “remain[s] on track” to deliver top-line data from its OPERA-01 Phase 3 monotherapy trial in the latter half of 2026. He also reaffirmed expectations for initial clinical results from OP-3136 around mid-2026. (GlobeNewswire)
The wider oral SERD (selective estrogen receptor degrader) space remains under the spotlight following Roche’s December announcement that its experimental pill giredestrant reduced breast cancer recurrence risk in a late-stage trial. This serves as a clear signal that the class still has potential for both winners and losers. (Reuters)
No new company announcements surfaced in the last two days to clarify Thursday’s move, leaving traders to rely on tape reading and positioning as the stock bounces ahead of its next key catalysts.
The risk, as usual in development-stage biotech, lies in delays or underwhelming data. Any hiccup in palazestrant’s late-stage trials—or fiercer-than-anticipated competition in endocrine therapy—might send investors back to concerns over burn rate and potential dilution, despite the company’s hefty cash reserves.
Investors are now turning their attention to Olema’s upcoming earnings report, expected around March 17 according to Nasdaq’s calendar. Market watchers will be keen on any updated commentary regarding OPERA-01 and OP-3136. (Nasdaq)
