Pfizer Inc (PFE) Announces New Trial Collaboration With Olema Pharmaceuticals

Pfizer Inc. (NYSE:PFE) is one of the Most Undervalued S&P 500 Stocks to Buy Right Now. On September 2, Pfizer Inc. (NYSE:PFE) announced a new trial collaboration with Olema Pharmaceuticals for metastatic breast cancer.

The study will test the safety and effectiveness of combining Olema’s drug Palazestrant with Pfizer’s investigational drug Atirmociclib. Both drugs target estrogen receptor-positive, HER2-negative metastatic breast cancer. Under the trial agreement, Pfizer Inc. (NYSE:PFE) will supply Atirmociclib, while Olema will lead the trial.

Both companies will jointly own data and inventions from the study; however, Olema keeps commercial rights for Palazestrant. This is Olema’s second trial with Pfizer Inc. (NYSE:PFE), following an earlier study with Pfizer’s palbociclib.

Pfizer Inc. (NYSE:PFE) is a global biopharmaceutical company that discovers, develops, manufactures, and markets medicines and vaccines for various diseases.

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Disclosure: None. This article is originally published at Insider Monkey.