Olema Oncology Announces Closing of $218.5 Million Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares

Rhea-AI Summary

Olema Oncology (Nasdaq: OLMA) closed an underwritten public offering of 11,500,000 common shares, including the full exercise of the underwriters' option to purchase 1,500,000 additional shares, at $19.00 per share.

Gross proceeds to Olema, before underwriting discounts, commissions and estimated offering expenses, were approximately $218.5 million. The offering relied on a shelf registration on Form S-3 declared effective January 15, 2025 and a related Form S-3MEF filed and automatically effective on November 18, 2025. Book-running managers included TD Cowen, Evercore ISI, Guggenheim Securities, LifeSci Capital, Oppenheimer, and H.C. Wainwright.

Positive

• Gross proceeds of approximately $218.5 million
• 11,500,000 common shares sold at $19.00 per share
• Underwriters' option fully exercised for 1,500,000 additional shares

Negative

• Issuance of 11,500,000 shares increases outstanding share count
• Offering may dilute existing shareholders' ownership percentage

SAN FRANCISCO, Nov. 20, 2025 (GLOBE NEWSWIRE) -- Olema Pharmaceuticals, Inc. (“Olema” or “Olema Oncology”, Nasdaq: OLMA), a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of targeted therapies for breast cancer and beyond, today announced the closing of its previously announced underwritten public offering of 11,500,000 shares of its common stock, which includes the full exercise of the underwriters’ option to purchase 1,500,000 additional shares of common stock, at a price to the public of $19.00 per share. The gross proceeds to Olema from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, were approximately $218.5 million.

TD Cowen, Evercore ISI, Guggenheim Securities, LifeSci Capital, Oppenheimer & Co. and H.C. Wainwright & Co. acted as book-running managers for the offering.

The offering was made pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was filed with the Securities and Exchange Commission (the “SEC”) on January 6, 2025 and declared effective on January 15, 2025, and a related registration statement on Form S-3MEF that was filed with the SEC pursuant to Rule 462(b) on November 18, 2025, which became automatically effective on November 18, 2025. Copies of the final prospectus supplement and accompanying prospectus relating to the offering can be accessed at no charge through the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from: TD Securities (USA) LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at TDManualrequest@broadridge.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Olema Oncology
Olema Oncology is a clinical-stage biopharmaceutical company committed to transforming the standard of care and improving outcomes for patients living with breast cancer and beyond. Olema is advancing a pipeline of novel therapies by leveraging its deep understanding of endocrine-driven cancers, nuclear receptors, and mechanisms of acquired resistance. Olema’s lead product candidate, palazestrant (OP-1250), is a proprietary, orally available complete estrogen receptor antagonist (CERAN) and a selective ER degrader (SERD), currently in two Phase 3 clinical trials. In addition, Olema is developing OP-3136, a potent lysine acetyltransferase 6 (KAT6) inhibitor, now in a Phase 1 clinical study. Olema is headquartered in San Francisco and has operations in Cambridge, Massachusetts.

Media and Investor Relations Contact
Courtney O’Konek
Vice President, Corporate Communications
Olema Oncology
media@olema.com

FAQ

How many shares did Olema (OLMA) sell in the November 20, 2025 offering?

Olema sold 11,500,000 common shares, including 1,500,000 shares from the underwriters' option.

What price per share did OLMA set for the public offering on November 20, 2025?

The offering price was $19.00 per share.

How much gross capital did OLMA raise from the offering closed November 20, 2025?

Gross proceeds were approximately $218.5 million before underwriting discounts and expenses.

When did the registration statements supporting OLMA's offering become effective?

The base Form S-3 was declared effective on January 15, 2025 and the Form S-3MEF became automatically effective on November 18, 2025.

Who were the book-running managers for OLMA's November 2025 offering?

Book-running managers were TD Cowen, Evercore ISI, Guggenheim Securities, LifeSci Capital, Oppenheimer, and H.C. Wainwright.

What does the OLMA offering mean for existing shareholders?

The offering increases the number of shares outstanding and therefore may reduce existing shareholders' ownership percentage.