On Thursday, Goldman Sachs reaffirmed its Buy rating on Olema Pharmaceuticals (NASDAQ:OLMA) stock with a steady price target of $27.00. Olema Pharmaceuticals has recently presented preclinical findings for its KAT6 inhibitor, OP-3136, at the EORTC-NCI-AACR Symposium. The studies, which included both in vitro and in vivo experiments, compared the efficacy of OP-3136 to Pfizer (NYSE:PFE)'s PF-07248144 in various therapeutic combinations for the treatment of breast cancer.
In the reported studies, OP-3136 demonstrated anti-tumor activity as a standalone treatment, with the results showing further improvement when used in combination with endocrine therapy and CDK4/6 inhibitors. The experiments utilized both ESR1-WT ER+/HER2- breast cancer cell line-derived xenograft (CDX) models and patient-derived xenograft (PDX) models to assess the drug's performance.
Although OP-3136 was tested against Pfizer's PF-07248144 in the CDX model, the difference in potency between the two drugs was not clear. The results indicated a slight edge in tumor growth inhibition for OP-3136 at a 0.5 mg/kg dose. However, the absence of PF-07248144 in the PDX model limited a comprehensive comparison. The CDX model also showed that fulvestrant, an endocrine therapy, did not have a significant effect as a single agent, which raised questions about the model's sensitivity and the reliability of these results in predicting clinical potential.
The analyst stated that the insensitivity towards fulvestrant monotherapy affected the ability to evaluate the combination effects of these treatments. Despite these concerns, the findings do not seem to have affected the confidence of Goldman Sachs in Olema Pharmaceuticals' prospects, as the Buy rating and price target have been maintained. The analyst's commentary suggests a cautious interpretation of the preclinical results, given the limitations observed in the study models.
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