Olema Pharmaceuticals reports OP-3136 was well-tolerated in Phase 1 trials, showing anti-tumor activity across multiple solid tumor types.
Olema Pharmaceuticals (NASDAQ:OLMA) announced initial Phase 1 clinical data for OP-3136, its KAT6 inhibitor, demonstrating the drug was well-tolerated with no dose-limiting toxicities or discontinuations due to treatment-related adverse events. The data, presented at the 2026 ASCO Annual Meeting, also indicated evidence of anti-tumor activity across various solid tumor types.
The update follows Olema’s May 12 first-quarter report, which highlighted topline data from the Phase 3 OPERA-01 trial of palazestrant, expected in fall 2026. The company’s Phase 3 OPERA-02 trial, combining palazestrant with ribociclib, continues to enroll patients. Olema ended Q1 with $505.3 million in cash and equivalents.
The pipeline expansion behind palazestrant, its lead asset, positions Olema for potential valuation catalysts in metastatic breast cancer treatments.