PFE - Olema Oncology cuts 25% of workforce as part of restructuring

2023-03-10 11:19:47 ET

• Olema Oncology ( NASDAQ: OLMA ) will let go of ~25% of its employees across research, early development, and general and administrative functions as part of a restructuring.
• The move is being done so the company can focus on late-stage development of OP-1250, its candidate for ER+/HER2- metastatic breast cancer.
• Olema plans on presenting phase 2 monotherapy data on OP-1250 in 2H 2023. In the same half, the company anticipates beginning a phase 3 monotherapy study .
• Olema ( OLMA ) is also looking at OP-1250 as a combination therapy in partnerships with Pfizer ( PFE ) and Novartis ( NVS ).
• Read why Busted IPO Forum calls Olema ( OLMA ) a hold.

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