Olema Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
February 02 2023 - 6:00PM
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 women’s cancers, today announced that the Company granted stock
options to four new employees to purchase an aggregate of 97,200
shares of the Company's common stock, effective as of February 1,
2023. 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, 2023, as an
inducement material to the new employee 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 $4.87 per
share, equal to the last reported sale price of the Company's
common stock as reported by Nasdaq on February 1, 2023. 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 a proprietary, orally-available small
molecule with dual activity as both a complete estrogen receptor
(ER) antagonist (CERAN) and a selective ER degrader (SERD). It is
currently being evaluated both as a single agent in an ongoing
Phase 2 clinical trial, and in combination with CDK 4/6 inhibitors
(palbociclib and ribociclib) and a PI3Ka inhibitor (alpelisib), in
patients with recurrent, locally advanced or metastatic ER-positive
(ER+), human epidermal growth factor receptor 2-negative (HER2-)
breast cancer. OP-1250 has been granted FDA Fast Track designation.
Olema is headquartered in San Francisco and has operations in
Cambridge, Massachusetts.
Contact:Courtney Dugan, Vice President, Investor Relations and
Communicationsir@olema.com
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