AstraZeneca SERENA-4 miss triggers after-hours plunge in OLMA
AstraZeneca SERENA-4 miss triggers 23% after-hours plunge in OLMA
- AZ announced Sep 11 that camizestrant (oral SERD) + palbociclib missed PFS primary endpoint vs AI + palbo in 1L ER+/HER2- advanced breast cancer.
- Numerical PFS improvement seen but not statistically significant; safety profile consistent with no new signals.
- Negative read on oral SERD class directly pressures Olema's palazestrant (CERAN/SERD) in similar OPERA-02 frontline combo trial.
- OLMA closed regular trading Sep 11 at ~$10.22 (down ~4% on light volume), then dropped sharply to ~$8.00 in after-hours.
- Recent Citigroup summit reiterated Q1 2027 OPERA-01 top-line data; no new Olema-specific negative news.
- Sector contagion typical in biotech; analysts largely retain Buy ratings with $39+ average target despite move.
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