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Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) is one of the small-cap stocks with potential to rise 1000 percent. The company gave investors a new pipeline marker on May 21, when it reported initial Phase 1 clinical data for OP-3136, its KAT6 inhibitor, at the 2026 ASCO Annual Meeting. Olema said OP-3136 monotherapy was well-tolerated, with no dose-limiting toxicities observed and no discontinuations due to treatment-related adverse events, while also showing evidence of anti-tumor activity across multiple solid tumor types.

The update adds an earlier-stage asset behind Olema’s main palazestrant program, where the more immediate valuation catalyst remains OPERA-01. In its May 12 first-quarter update, Olema said topline data from the Phase 3 OPERA-01 trial of palazestrant as a monotherapy in second- and third-line ER+/HER2- metastatic breast cancer are expected in fall 2026. The company also said its Phase 3 OPERA-02 trial of palazestrant in combination with ribociclib in frontline metastatic breast cancer continued to enroll patients. Olema ended the first quarter with $505.3 million in cash, cash equivalents, and marketable securities.

Photo by National Cancer Institute on Unsplash

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA), operating as Olema Oncology, is a clinical-stage biopharmaceutical company developing targeted therapies for breast cancer and other cancers.

While we acknowledge the potential of OLMA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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