Olema Pharmaceuticals on deck for IPO

• Olema Pharmaceuticals (OLMA) has filed a preliminary prospectus for a $100M IPO.
• The San Francisco, CA-based biopharmaceutical company develops therapies for women's cancers. Lead candidate is OP-1250, an orally available dual-acting ER antagonist and ER degrader which, according to the company, produces a more durable treatment effect. In August, it launched a Phase 1/2 dose-escalation study in patients with recurrent, locally advanced or metastatic ER-positive (ER+), human epidermal growth factor receptor 2-negative (HER2-) breast cancer. Interim data should be released in H2 2021.
• 2020 Financials (9 mo.): Operating Expenses: $11.4M (+245%); Net Loss: ($13.9M) (-321%); Cash Burn: ($10.9M) (-395%).
• https://seekingalpha.com/news/3629235-olema-pharmaceuticals-on-deck-for-ipo