Brief: Olema Oncology Reports Fourth Quarter And Full-Year 2022 Financial Results

Olema Pharmaceuticals

09/03/2023 21:21

March 9 (Reuters) - Olema Pharmaceuticals Inc  OLMA.O :
    * OLEMA ONCOLOGY REPORTS FOURTH QUARTER AND FULL-YEAR 2022
FINANCIAL RESULTS AND PROVIDES STRATEGIC UPDATE
    * CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES OF $204.4
MILLION AS OF DEC 31, 2022, EXPECTED TO FUND OPERATIONS INTO
2025
    * QTRLY LOSS PER SHARE $0.65
    * Q4 EARNINGS PER SHARE VIEW $-0.65 -- REFINITIV IBES DATA
    * OLEMA PHARMACEUTICALS - RESTRUCTURING ANNOUNCED RESULT OF
A
STRATEGIC DECISION TO FOCUS RESOURCES ON LATE-STAGE CLINICAL
DEVELOPMENT OF OP-1250
    * AS A RESULT OF RESTRUCTURING, OLEMA'S WORKFORCE WILL BE
REDUCED
BY APPROXIMATELY 25%
    * OLEMA PHARMACEUTICALS - AS RESULT OF RESTRUCTURING, CO'S
WORKFORCE WILL BE REDUCED BY ABOUT 25%
    * SAYS CHIEF BUSINESS OFFICER KINNEY HORN WILL BE DEPARTING
COMPANY
    * WORKFORCE REDUCTION WILL  AFFECT EMPLOYEES ACROSS
RESEARCH,
EARLY DEVELOPMENT, AND GENERAL AND ADMINISTRATIVE FUNCTIONS
    * SAYS CYRUS HARMON, CO-FOUNDER, WILL STEP DOWN FROM ROLE AS
CHIEF
RESEARCH OFFICER

Source text for Eikon:  ID:nGNX6jkfn0 
Further company coverage:  OLMA.O 

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