Olema Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
February 03 2022 - 5:00PM
Olema Pharmaceuticals, Inc. (“Olema,” “Olema Oncology” or the
“Company,” Nasdaq: OLMA), a clinical-stage biopharmaceutical
company focused on the discovery, development, and
commercialization of targeted therapies for women’s cancers, today
announced that the Company granted stock options to two new
employees to purchase an aggregate of 270,000 shares of the
Company's common stock, effective as of February 1, 2022. An option
to purchase 250,000 shares of the Company’s common stock was
granted to Naseem Zojwalla, M.D., the Company's new Chief Medical
Officer, and an option to purchase 20,000 shares of common stock
was granted to an additional new employee. These awards were
approved by the Compensation Committee of Olema’s Board of
Directors and granted under the Company's 2022 Inducement Plan,
with a grant date of February 1, 2022, as an inducement material to
the new employees entering into employment with Olema, in
accordance with Nasdaq Listing Rule 5635(c)(4).
The stock options vest over four years, with 25 percent vesting
on the first anniversary of the vesting commencement date for such
employee and the remainder vesting in 36 equal monthly installments
over the following three years, subject to the employee being
continuously employed by Olema as of such vesting dates. The stock
options have a 10-year term and an exercise price of $7.02 per
share, equal to the last reported sale price of the Company's
common stock as reported by Nasdaq on February 1, 2022. The stock
options are subject to the terms of the Olema Pharmaceuticals, Inc.
2022 Inducement Plan.
Olema is providing this information in accordance with Nasdaq
Listing Rule 5635(c)(4).
About Olema Oncology
Olema Oncology is a clinical-stage biopharmaceutical company
focused on the discovery, development and commercialization of
targeted therapies for women’s cancers. Olema’s lead product
candidate, OP-1250, is an orally available small molecule with
combined activity as both a complete estrogen receptor (ER)
antagonist (CERAN) and a selective ER degrader (SERD). It is
currently being evaluated as a single agent in an ongoing Phase 1/2
clinical trial, and in Phase 1b combination with palbociclib, in
patients with recurrent, locally advanced or metastatic ER-positive
(ER+), human epidermal growth factor receptor 2-negative (HER2-)
breast cancer. Olema is headquartered in San Francisco and has
operations in Cambridge, Massachusetts.
Contact:
Eva Stroynowski
Vice President, Communications and Investor Relations
eva@olema.com
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