Olema Oncology announces public offering of common stock and warrants

Olema Pharmaceuticals Inc. (NASDAQ: OLMA) announced plans for a public offering of common stock and pre-funded warrants, according to a company statement. The clinical-stage biopharmaceutical company focuses on targeted therapies for breast cancer.

The offering will include shares of common stock or pre-funded warrants to purchase common stock for certain investors. Olema expects to grant underwriters a 30-day option to purchase up to an additional 15% of the total shares being offered plus shares underlying the pre-funded warrants.

TD Cowen will serve as book-running manager for the proposed offering. The company stated there is no assurance regarding whether or when the offering may be completed or the actual size or terms.

The offering will be conducted under a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on January 6, 2025, and declared effective on January 15, 2025. A preliminary prospectus supplement will be filed with the SEC and made available on the agency's website.

Olema is developing palazestrant, an oral estrogen receptor antagonist currently in two Phase 3 clinical trials. The company is also advancing OP-3136, a lysine acetyltransferase 6 inhibitor in Phase 1 clinical study. The company maintains headquarters in San Francisco with operations in Cambridge, Massachusetts.

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