Olema Pharmaceuticals Shares Sink More Than 40% After Roche Trial Miss
Olema Pharmaceuticals shares fell over 40% Monday after Roche’s breast cancer drug giredestrant failed to meet its main goal in a late-stage trial. Investors viewed the setback as a negative signal for Olema’s lead drug, palazestrant, which is in Phase 3 studies. Roche said the trial showed no significant improvement in progression-free survival. Olema ended September with $329 million in cash and expects top-line data in late 2026.