FOMC minutes; Delta, PepsiCo to report; gold retreats - what’s moving markets
Investing.com -- Olema Pharmaceuticals Inc (NASDAQ:OLMA) stock surged 6.6% following the announcement of a new clinical trial collaboration and supply agreement with Pfizer Inc (NYSE:PFE) to evaluate a combination therapy for metastatic breast cancer.
The agreement will focus on testing the safety and combinability of Olema’s palazestrant with Pfizer’s investigational CDK4 inhibitor atirmociclib in patients with estrogen receptor-positive, human epidermal growth factor receptor 2-negative (ER+/HER2-) metastatic breast cancer.
Under the terms of the agreement, Pfizer will supply atirmociclib for the Phase 1b/2 study while Olema will lead the conduct of the trial. Both companies will jointly own all clinical data and inventions relating to the combined use of the drugs, with Olema maintaining full global commercial and marketing rights to palazestrant.
"We are excited to assess this combination in the clinic as we seek to establish palazestrant as a potential backbone endocrine therapy for metastatic breast cancer," said Sean P. Bohen, President and Chief Executive Officer of Olema Oncology.
This marks Olema’s second clinical trial agreement with Pfizer, following their initial collaboration established in November 2020 to evaluate palazestrant in combination with Pfizer’s palbociclib (IBRANCE®) in similar patient populations.
The clinical-stage biopharmaceutical company is currently conducting OPERA-01, its first pivotal study of palazestrant, and plans to initiate OPERA-02, a ribociclib combination trial in frontline metastatic breast cancer, this quarter.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.