Olema Pharmaceuticals shares rise 2.93% premarket after announcing a new clinical trial collaboration with Pfizer.

Olema Pharmaceuticals, Inc. rose 2.93% in premarket trading, with the company announcing a new clinical trial collaboration and supply agreement with Pfizer Inc. in metastatic breast cancer. The companies will evaluate in a Phase 1b/2 study the safety and combinability of the palazestrant-atirmociclib combination in approximately 35 patients, with initiation anticipated in H2 2025. Results from this study are expected to inform a potential pivotal Phase 3 trial of the novel combination in the frontline metastatic breast cancer setting.