Pfizer Partners with Olema for Metastatic Breast Cancer Study Amid Optimism for Healthcare Sector

Pfizer has partnered with Olema Pharmaceuticals for a clinical trial to treat metastatic breast cancer. The collaboration is expected to bolster Pfizer's oncology portfolio. Despite recent positive news, Pfizer's total shareholder return over the past year was a 5.54% decrease, underperforming the broader US market. The current share price is close to the bearish analyst price target of $24.0, indicating skepticism about immediate upside potential.

Pfizer Inc. (NYSE: PFE) has announced a new clinical trial collaboration with Olema Pharmaceuticals Inc. to evaluate the combination of palazestrant and atirmociclib in patients with estrogen receptor-positive, human epidermal growth factor receptor 2-negative (ER+/HER2-) metastatic breast cancer. The Phase 1b/2 study will assess the safety and combinability of these two drugs in approximately 35 patients, with trial initiation expected in the second half of 2025. The results of this study will inform a potential pivotal Phase 3 trial in frontline metastatic breast cancer.

Under the agreement, Pfizer will supply atirmociclib for use in the Phase 1b/2 study, while Olema will lead the conduct of the study. Both companies will jointly own clinical data and inventions resulting from the study, with Olema maintaining full global commercial and marketing rights to palazestrant. This collaboration marks Olema's second clinical trial agreement with Pfizer, following their November 2020 agreement to evaluate palazestrant in combination with palbociclib (IBRANCE®) in patients with recurrent, locally advanced or metastatic ER+/HER2- breast cancer.

Olema's lead product candidate, palazestrant (OP-1250), is a proprietary, orally available complete estrogen receptor (ER) antagonist (CERAN) and a selective ER degrader (SERD), currently in a Phase 3 clinical trial called OPERA-01. The company is also developing OP-3136, a potent lysine acetyltransferase 6 (KAT6) inhibitor, now in a Phase 1 clinical study.

Despite the positive news of this collaboration, Pfizer's total shareholder return over the past year has been a 5.54% decrease, underperforming the broader US market. The current share price is close to the bearish analyst price target of $24.0, indicating skepticism about immediate upside potential.

References:
[1] https://www.marketscreener.com/news/olema-pharmaceuticals-inc-announces-new-clinical-trial-agreement-with-pfizer-to-combine-palazestra-ce7d59dade88f324
[2] https://www.stocktitan.net/news/OLMA/olema-oncology-announces-new-clinical-trial-agreement-with-pfizer-to-hq1fjgvpo5yj.html