Olema Pharmaceuticals, Inc. (OLMA) Stock

Olema Pharmaceuticals, Inc. (OLMA) is a Healthcare stock trading at $9.00 (as of 2026-09-11), with a market capitalization of $787.48M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Olema Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies for women's cancers. Its lead product candidate is OP-1250, an estrogen receptor (ER) antagonist and a selective ER degrader, which is in Phase 1/2 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive, human epidermal growth factor receptor 2-negative breast cancer. The company was formerly known as CombiThera, Inc. and changed its name to Olema Pharmaceuticals, Inc. in March 2009. Olema Pharmaceuticals, Inc. was incorporated in 2006 and is headquartered in San Francisco, California.

Understand Olema Pharmaceuticals, Inc.: how it makes money

Olema is a clinical-stage biotech developing palazestrant, an estrogen-receptor degrader for advanced ER-positive breast cancer, currently in Phase 1/2 trials. The entire business is a single pre-revenue asset, so value hinges on clinical readouts and potential partnerships rather than any product sales.

Olema has no commercial product; its sole path to revenue is advancing palazestrant through Phase 2 into a licensing deal or standalone approval, making every interim data point a binary valuation event.

Business quality (Unprofitable): Unprofitable, pre-revenue clinical-stage biotech with no commercial operations. Value is entirely optionality on one Phase 1/2 program, with no diversification, no cash-generating asset, and no valuation anchor.

Bull case

Broad efficacy across subgroups: Palazestrant's treatment benefit held across ER-mutant, ER wild-type, and prior CDK4/6 inhibitor-pretreated patients alike, supporting a mechanism of action that is not confined to a narrow biomarker subset and could open a larger addressable patient pool.

Bear case

Pre-revenue burn is unsustainable alone: With an operating margin of -1490%, the company is consuming cash at a rate far exceeding any current inflow, meaning eventual equity dilution or a licensing partnership is mathematically necessary before any commercialization milestone is reached.
Single-asset binary risk: The entire equity value rests on one Phase 1/2 trial of one molecule; a negative Phase 2 efficacy readout or an unexpected safety signal would remove essentially all fundamental value with no secondary pipeline asset to fall back on.

Valuation — source: SEC EDGAR (first-party)
Price	$9.00
Market Cap	$787.48M
Price / Book	1.83
Price / Sales	46.48

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$16.22M
Net Margin	-1001.3%
Return on Equity	-47.5%
Current Ratio	8.86
Revenue Growth (YoY)	11.5%
EPS Growth (YoY)	19.6%
FCF Growth (YoY)	54.3%

Financial Health — source: SEC EDGAR
Altman Z-Score	6.98 (safe)

Valuation vs Sector & Industry
Sector P/E (Healthcare)	19.4
Industry P/E (Pharmaceutical Products)	15.1

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	FMR LLC ($151.91M)
Institutional Holders Tracked	10

Company
Sector	Healthcare
Industry	Pharmaceutical Products
CEO	Sean Bohen
Employees	96
Country	US
IPO Date	2020-11-19

Related Companies (Pharmaceutical Products; 8 comparable drugmakers)

Data as of 2026-09-11.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.