Olema Oncology Announces Pricing of $190.0 Million Public Offering of Common Stock

Rhea-AI Summary

Olema Oncology (Nasdaq: OLMA) priced an underwritten public offering of 10,000,000 common shares at $19.00 per share, for gross proceeds of approximately $190.0 million. The company granted underwriters a 30-day option to buy up to an additional 1,500,000 shares at the public offering price, less discounts and commissions. The offering is expected to close on November 20, 2025, subject to customary closing conditions.

Book-running managers include TD Cowen, Evercore ISI, Guggenheim Securities, LifeSci Capital, Oppenheimer & Co., and H.C. Wainwright & Co. The offering is made under a shelf registration (Form S-3) declared effective January 15, 2025; final prospectus supplements will be filed with the SEC.

Positive

• Gross proceeds of approximately $190.0 million
• 30-day over-allotment option for up to 1,500,000 additional shares

Negative

• Issuance of 10,000,000 shares creates potential dilution for existing shareholders
• Underwriting discounts and offering expenses will reduce net proceeds

Insights

Capital Markets Strategist

Underwritten sale of 10,000,000 shares priced to raise ~$190.0 million; closes Nov 20, 2025.

Olema is issuing 10,000,000 new shares at $19.00 per share to raise approximately $190.0 million of gross proceeds, with underwriters granted a 30-day option to buy up to an additional 1,500,000 shares. The transaction uses an existing Form S-3 shelf registration and is expected to close on Nov 20, 2025, subject to customary closing conditions.

Fresh equity proceeds increase the company’s stated available capital while creating immediate share dilution for existing holders; the underwriters' option for 1,500,000 shares is a monitorable source of incremental supply. Key items to watch in the near term are the actual closing on Nov 20, 2025, whether the greenshoe is exercised, and any subsequent SEC filings disclosing net proceeds and intended use of funds.

SAN FRANCISCO, Nov. 19, 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 pricing of an underwritten public offering of 10,000,000 shares of its common stock at a price to the public of $19.00 per share. All of the shares in the offering are to be sold by Olema.

The gross proceeds to Olema from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $190.0 million.

In addition, Olema has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on November 20, 2025, subject to the satisfaction of customary closing conditions.

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

The offering is being 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. A preliminary prospectus supplement and accompanying prospectus relating to the proposed offering was filed with the SEC and is available for free on the SEC’s website located at http://www.sec.gov. A final prospectus supplement and accompanying prospectus relating to the proposed offering will be filed with the SEC and will be available for free on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available 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.

Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Words such as “anticipate,” “expect,” “may,” “plan,” “will,” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These statements include, among others, statements regarding the expected timing and completion of the offering and gross proceeds expected to be received from the offering. Because such statements deal with future events and are based on Olema’s current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Olema could differ materially from those described in or implied by the statements in this press release. These forward-looking statements are subject to risks and uncertainties, including, without limitation, those discussed in the section titled “Risk Factors” in Olema’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, the prospectus supplement related to the offering and other filings and reports that Olema makes from time to time with the SEC. Except as required by law, Olema assumes no obligation to update these forward-looking statements, including in the event that actual results differ materially from those anticipated in the forward-looking statements.

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

FAQ

How many shares did Olema (OLMA) offer in the November 19, 2025 public offering?

Olema offered 10,000,000 common shares at $19.00 per share.

What are the expected gross proceeds from Olema's (OLMA) November 2025 offering?

The offering is expected to generate approximately $190.0 million in gross proceeds before fees and expenses.

When is Olema's (OLMA) offering expected to close and what conditions apply?

The offering is expected to close on November 20, 2025, subject to customary closing conditions.

Did Olema (OLMA) grant an over-allotment option to underwriters and how large is it?

Yes; Olema granted a 30-day option to purchase up to 1,500,000 additional shares at the public offering price.

Which banks are the book-running managers for Olema's (OLMA) offering?

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

Where can investors find the prospectus for Olema's (OLMA) public offering?

The preliminary and final prospectus supplements will be filed with the SEC and are available for free at www.sec.gov.