Olema Pharmaceuticals: Evaluating the Current Valuation After a Strong Run-Up in Recent Months

Olema Pharmaceuticals (OLMA) shares have surged 88% in the past 3 months, with a 1-year total shareholder return of 163.9%. The company's recent momentum has investors weighing its growth potential. Despite a price-to-book ratio of 5.2x, which is below peers but above the broader industry benchmark, risks remain, including ongoing lack of revenue and uncertain profitability timelines.