Olema Pharmaceuticals, Inc. SEC Filings

Olema Pharmaceuticals, Inc. (OLMA) announced a follow-on public offering of 10,000,000 shares of common stock at $19.00 per share under an existing shelf registration. The company expects the offering to close on November 20, 2025, subject to customary conditions, and has granted underwriters a 30-day option to purchase up to an additional 1,500,000 shares at the public offering price less underwriting discounts and commissions.

The transaction is expected to generate approximately $190.0 million in gross proceeds for Olema before underwriting discounts, commissions, and estimated expenses, assuming the underwriters do not exercise their option. The deal is led by TD Securities (USA) LLC as representative of the underwriters, and Olema has provided customary representations, warranties, indemnification and closing conditions as part of the underwriting agreement.

Olema Pharmaceuticals, Inc. is conducting a primary public offering of 10,000,000 shares of common stock at $19.00 per share. The company has also granted underwriters a 30-day option to purchase up to 1,500,000 additional shares at the same price, less underwriting discounts and commissions. Gross proceeds are $190,000,000, with estimated net proceeds of about $178,000,000 after $11,400,000 in underwriting discounts and commissions and offering expenses.

As of September 30, 2025, Olema had 68,652,730 shares outstanding, so this offering represents a meaningful increase in the share count before any underwriter option is exercised. Management plans to use the cash, together with existing resources and a loan facility, to fund late-stage clinical development and potential U.S. commercial launch of lead breast cancer therapy palazestrant and to advance second program OP-3136, with funding expected to support operations into 2028.

Olema Pharmaceuticals, Inc. is launching a primary offering of common stock and pre-funded warrants under its effective shelf registration to raise cash for its pipeline. Investors may buy either common shares or, for certain investors, pre-funded warrants that are immediately exercisable at an exercise price of $0.0001 per share and are not expected to trade on an exchange. The company’s common stock trades on the Nasdaq Global Select Market under the symbol OLMA and last closed at $8.52 per share on November 17, 2025.

Olema plans to use the net proceeds, together with existing cash, cash equivalents, marketable securities and borrowing capacity, to continue late-stage development of its lead breast cancer candidate palazestrant (OP-1250) and its second program OP-3136, and for working capital and general corporate purposes. Based on current plans, Olema believes these resources, including this offering, will fund operations into 2028, supporting a potential U.S. commercial launch of palazestrant in late 2027 if clinical trials are successful and the FDA grants approval. Shares outstanding were 68,652,730 as of September 30, 2025.

Olema Pharmaceuticals, Inc. reported that it has terminated its existing at-the-market prospectus used for sales of its common stock under a Sales Agreement with TD Securities (USA) LLC. This means the company will no longer sell shares through that at-the-market program unless and until it files a new prospectus, prospectus supplement, or registration statement. The underlying Sales Agreement itself remains in effect, so Olema could resume at-the-market sales in the future once new offering documents are in place.

Olema Pharmaceuticals (OLMA) reported Q3 2025 results, highlighting higher operating spend as its breast cancer programs advance. The company posted a net loss of $42.2 million, compared with $34.6 million a year ago. Research and development was $40.0 million and general and administrative was $5.9 million, reflecting continued clinical activity.

Liquidity remains strong, with $329.0 million in cash, cash equivalents and marketable securities at September 30, 2025, and an additional $22.0 million available under its loan facility. Stockholders’ equity was $307.5 million. The company’s weighted average share count was 85.7 million, which includes the effect of pre-funded warrants.

Olema has an at-the-market program of up to $150.0 million established in January 2025 with no sales to date. Previously, a November 2024 private placement raised $250.0 million gross (net approximately $237.0 million). As of November 5, 2025, 68,659,923 shares were outstanding; there are 17,094,163 shares issuable upon exercise of pre-funded warrants at $0.0001 per share, subject to beneficial ownership limits.

Olema Pharmaceuticals (OLMA) furnished an update on its business by reporting financial results for the quarter ended September 30, 2025. The company submitted a Current Report on Form 8-K under Item 2.02 and included a press release as Exhibit 99.1. The disclosure is designated as furnished, not filed, under the Exchange Act, meaning it is not subject to Section 18 liabilities and is incorporated by reference only if specifically stated.

Olema Pharmaceuticals (OLMA) reported updated Phase 1b/2 results for palazestrant combined with ribociclib in ER+/HER2- advanced or metastatic breast cancer. As of July 8, 2025, 72 patients were enrolled across 90 mg and 120 mg palazestrant dose cohorts alongside ribociclib 600 mg daily.

Efficacy in the 120 mg cohort (median follow-up >19 months) showed mature results with median progression-free survival (mPFS) of 15.5 months for all patients. Among those previously treated with CDK4/6 inhibitors, mPFS was 12.2 months, including 9.2 months for ESR1 wild-type tumors and 13.8 months for ESR1-mutant tumors. In the 90 mg cohort (median follow-up 10.8 months), mPFS was not reached.

The combination was well tolerated with no new safety signals, no observed drug–drug interactions, and mostly grade 1–2 adverse events, consistent with known profiles. These findings support the ongoing pivotal Phase 3 OPERA-02 trial of palazestrant plus ribociclib in frontline ER+/HER2- metastatic breast cancer.

Olema Pharmaceuticals director Cyrus Harmon reported open-market sales totaling 25,000 common shares across two trading dates in September 2025, reducing his direct holdings from 754,140 to 744,140 shares and his indirect holdings (via Harmon Family Investors LLC, which he manages) from 120,114 to 117,028 shares. The reported weighted-average sale prices ranged from about $8.02 to $8.37, with specific weighted averages of $8.04 and $8.33 for direct sales and $8.08 and $8.32 for indirect sales. The Form 4 discloses the manager relationship for the indirect holdings and provides ranges and weighted averages for the trades.

Olema Pharmaceuticals (OLMA) filed a Form 144 proposing the sale of 13,086 common shares. The sale is to be executed through Fidelity Brokerage Services with an approximate aggregate market value of $108,977.56 and an intended sale date of 09/18/2025. The company reports 68,634,329 shares outstanding, making the proposed sale a small portion of outstanding stock. The filer acquired 10,000 shares as founders shares on 03/20/2007 (compensation) and 3,086 shares in an open-market purchase on 06/30/2014 (cash). The filing also discloses recent sales on 09/16/2025: 10,000 shares by Cyrus L. Harmon for $80,362.60 and 1,914 shares by Harmon Family Investors LLC for $15,464.28. The filer certifies no undisclosed material adverse information.