Olema surges on FDA's 'fast track' tag for breast cancer therapy

Olema Pharmaceuticals

21/07/2022 13:45

** Shares of Olema Pharmaceuticals  OLMA.O  jump ~13% to
$5.32 before the bell 
    ** Biopharma co says U.S. FDA has granted "fast track"
designation to its breast cancer therapy OP-1250  urn:newsml:reuters.com:*:nGNX2QtmPL 
    ** FDA's fast-track tag is intended to speed up review of
drugs for the treatment of serious or life threatening diseases;
benefits include more frequent interactions with the agency
    ** OLMA is currently testing OP-1250 as a monotherapy and in
early-stage combination trials for potential treatment for
advanced breast cancer 
    ** As of last close, stock down ~50% YTD 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))