Olema Pharmaceuticals FY Conference Summary Company Overview - **Company**: Olema Pharmaceuticals (NasdaqGS:OLMA) - **Focus**: Transforming the standard of care for patients with ER-positive, HER2-negative breast cancer - **Key Assets**: - **Palazestrant**: Complete estrogen receptor antagonist in clinical trials - **OP-3136**: KAT6A, B, and VII inhibitor in phase I/II trials Clinical Trials and Market Opportunities - **Palazestrant Trials**: - **OPERA-01**: Second/third line monotherapy trial reading out in Fall 2026, targeting a $5 billion market opportunity in this setting [2][4] - **OPERA-02**: First-line trial combining palazestrant with ribociclib, enrolling approximately 1,000 patients, with a potential readout as early as 2028 [3][10] - **Market Size**: - $5 billion in the second/third line setting - $10 billion+ in the first line setting - Adjuvant setting could be even larger [4] Unique Selling Points of Palazestrant - **Mechanism**: Complete antagonism of the estrogen receptor, allowing for effective combination with other agents [5][18] - **Pharmacokinetics**: Higher exposure compared to competitors, allowing for better receptor occupancy [6][19] - **Clinical Data**: - 7.3 months median progression-free survival (PFS) in ESR1 mutant patients - 5.5 months median PFS in wild-type patients [8][11] Competitive Landscape - **Comparison with Other SERDs**: - Palazestrant shows better efficacy and tolerability compared to giredestrant and fulvestrant [17][35] - Giredestrant faced dose reduction issues impacting exposure [19][32] - **Investor Sentiment**: Improved due to recent positive data from the lidERA trial, which validated the potential of SERD/SERAN class drugs [25][26] Future Plans and Expectations - **OP-3136**: Initial data expected in Q2 2026, with hopes for better tolerability compared to Pfizer's KAT6 compound [12][51] - **Second-Line Setting**: Potential to explore combinations with endocrine agents, aiming for significant increases in PFS [44][54] - **Adjuvant Setting**: Future plans may require larger trials and additional capital, not currently prioritized [50] Financial Position - **Balance Sheet**: Approximately $500 million available to support ongoing trials and data readouts [15] Key Takeaways - Olema Pharmaceuticals is positioned to capitalize on significant market opportunities in breast cancer treatment with its innovative therapies - The company is focused on building a commercial presence in the U.S. while seeking collaborators for international markets [9] - The upcoming trial readouts and data presentations are critical for validating the efficacy of its drug candidates and shaping investor confidence [14][56]

Company Overview - Olema is focused on transforming the standard of care for patients with ER-positive, HER2-negative breast cancer, which represents a significant unmet medical need [2] - Breast cancer is the most common cancer diagnosis in women globally and the second leading cause of cancer death, with ER-positive, HER2-negative breast cancer accounting for 70% of cases [2] Lead Program - The lead program of Olema is palazestrant, a complete estrogen receptor antagonist, which serves as the backbone therapy for ER-positive HER2-negative breast cancer [3] - Endocrine therapy is administered in every line of treatment until chemotherapy is necessary, with the goal of delaying chemotherapy as long as possible [3] Clinical Trials - Palazestrant is currently in two Phase III trials: one as a monotherapy in the second and third-line setting, with results expected in the fall, and another in combination with ribociclib in the first-line setting [4]