Olema Pharmaceuticals

Q2 FY2026 EarningsFY26 Q2 missed consensus across major loss metrics, primarily driven by intensified R&D investment in late-stage clinical trials. GAAP EPS of -$0.61 missed the -$0.55 consensus, and GAAP net loss of $63.2M was wider than the $54.8M expected. Operating cash outflow of $91.9M (H1) was significantly deeper than the $41.1M consensus, as the company accelerated enrollment for its pivotal Phase 3 OPERA-01 and OPERA-02 trials. Current cash runway of $461.1M is projected to fund operations into mid-2028.