The company continues to operate without top-line revenue while quarterly R&D expenses have surged to $49.2 million as of 2026Q1, resulting in a widening operating loss of $58.0 million.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 306K | 0 | 0 | 0 | 0 | 0 | 11K | 9.03K | 8.24K |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - |
| Gross Profit | -306K | 0 | 0 | 0 | 0 | 0 | -11K | -9.03K | -8.24K |
| Gross Margin % | - | - | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | - | - | - | - | 100% | -21.78% | -9.57% | - |
| Operating Expenses | 201.5M | 178.7M | 142.26M | 104.96M | 106.99M | 71.49M | 21.52M | 4.32M | 2.08M |
| OpEx % of Revenue | - | - | - | - | - | - | - | - | - |
| Selling, General & Admin | 25.39M | 21M | 17.74M | 18.82M | 24.71M | 20.39M | 7.82M | 403K | 386K |
| SG&A % of Revenue | - | - | - | - | - | - | - | - | - |
| Research & Development | 176.31M | 157.7M | 124.52M | 86.14M | 82.27M | 51.1M | 13.7M | 3.92M | 1.69M |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -201.81M | -178.7M | -142.26M | -104.96M | -106.99M | -71.49M | -21.53M | -4.32M | -2.08M |
| Operating Margin % | - | - | - | - | - | - | - | - | - |
| Operating Income Growth % | - | -25.62% | -35.53% | 1.89% | -49.65% | -232.08% | -397.99% | -107.94% | - |
| EBITDA | -201.33M | -178.21M | -141.87M | -104.58M | -106.63M | -71.33M | -21.52M | -4.31M | -2.07M |
| EBITDA Margin % | - | - | - | - | - | - | - | - | - |
| EBITDA Growth % | -41.42% | -25.62% | -35.65% | 1.92% | -49.49% | -231.5% | -398.78% | -108.33% | - |
| D&A (Non-Cash Add-back) | 481K | 490K | 393K | 377K | 357K | 163K | 11K | 9.03K | 8.24K |
| EBIT | -198.15M | -178.7M | -142.26M | -104.96M | -106.99M | -71.49M | -21.47M | -4.32M | -2.08M |
| Net Interest Income | 16.48M | 16.22M | 12.68M | 8.32M | 2.23M | 442K | -593K | 7K | -24K |
| Interest Income | 16.48M | 16.22M | 12.68M | 8.32M | 2.23M | 442K | 60K | 7K | 4K |
| Interest Expense | 0 | 0 | 0 | - | 0 | - | 653K | - | 28K |
| Other Income/Expense | 16.66M | 16.25M | 12.78M | 8.31M | 2.2M | 395K | -593K | 7K | -118K |
| Pretax Income | -185.15M | -162.45M | -129.47M | -96.66M | -104.79M | -71.1M | -22.12M | -4.32M | -2.2M |
| Pretax Margin % | - | - | - | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -185.15M | -162.45M | -129.47M | -96.66M | -104.79M | -71.1M | -22.12M | -4.32M | -2.2M |
| Net Margin % | - | - | - | - | - | - | - | - | - |
| Net Income Growth % | -43.65% | -25.47% | -33.95% | 7.76% | -47.39% | -221.4% | -412.53% | -96.45% | - |
| Net Income (Continuing) | -185.15M | -162.45M | -129.47M | -96.66M | -104.79M | -71.1M | -22.12M | -4.32M | -2.2M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.80 | -1.87 | -2.20 | -2.14 | -2.62 | -1.79 | -0.58 | -0.11 | -0.16 |
| EPS Growth % | 1.93% | 15% | -2.8% | 18.32% | -46.37% | -208.62% | -427.27% | 31.25% | - |
| EPS (Basic) | - | -1.87 | -2.20 | -2.14 | -2.62 | -1.79 | -0.58 | -0.11 | -0.16 |
| Diluted Shares Outstanding | 102.8M | 87.01M | 58.74M | 45.25M | 40M | 39.52M | 39.31M | 40.17M | 14.1M |
| Basic Shares Outstanding | 102.8M | 87.01M | 58.74M | 45.25M | 40M | 39.52M | 39.31M | 40.17M | 14.1M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Binary clinical trial failure
As reported in recent financial statements, Olema Pharmaceuticals' quarterly R&D expenses have climbed to $49.2 million in 2026Q1, reflecting a significant acceleration in clinical trial activity that continues to outpace the company's historical spending levels and places substantial pressure on its remaining liquid capital reserves.
The consistent upward trend in R&D spending suggests that the company is aggressively pushing its lead candidate, OP-1250, through critical clinical milestones. Investors should monitor whether this increased expenditure correlates with improved trial enrollment or if it merely reflects rising costs associated with complex oncology study protocols.
Based on the provided income statement data, the company's operating loss widened to $58.0 million in 2026Q1, confirming that the firm lacks any meaningful operating leverage as it remains entirely dependent on external financing to sustain its pre-revenue research and development operations in the oncology space.
The absence of revenue means that every dollar spent on SG&A and R&D flows directly to the bottom line as a loss, preventing the realization of economies of scale. This structure implies that the company's financial health is tethered exclusively to its ability to secure future capital raises rather than operational efficiency.
According to recent SEC filings, the company's net loss of $53.1 million in 2026Q1 highlights the significant impact of non-cash stock-based compensation and R&D-heavy cost structures, which complicate the assessment of underlying operational performance for a firm that currently generates no top-line revenue from its therapeutic assets.
The volatility in quarterly net income appears largely driven by the timing of clinical trial milestones and associated R&D outlays rather than core business performance. Analysts should focus on the cash burn rate as a more reliable proxy for the company's viability than the reported net income figures.
With reported cash levels at $48.3 million, the company faces a precarious financial position, as the current quarterly burn rate suggests that existing capital may be insufficient to support the full duration of Phase 3 trials without immediate and potentially dilutive equity financing for shareholders.
The discrepancy between the current cash position and the high quarterly R&D spend warrants further investigation into the company's liquidity management. If the firm is forced to raise capital in a depressed biotech market, the resulting dilution could significantly impair the potential upside for existing equity holders.
Quick answers to the most common questions about buying OLMA stock.
For fiscal year 2025, Olema Pharmaceuticals, Inc. (OLMA) reported total revenue of $0.0M.
Olema Pharmaceuticals, Inc. (OLMA) reported a net loss of $162.5M for the fiscal year ending 2025.