Olema Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
December 04 2023 - 4:29PM
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 three new employees to purchase an aggregate of 57,500
shares of the Company's common stock, effective as of December 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 December 1, 2023, 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 $14.58 per share, equal to the last reported sale
price of the Company's common stock as reported by Nasdaq on
December 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, palazestrant (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 3 clinical trial, and in
combination with CDK4/6 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. Palazestrant has
been granted FDA Fast Track designation for the treatment of
ER+/HER2- metastatic breast cancer that has progressed following
one or more lines of endocrine therapy with at least one line given
in combination with a CDK4/6 inhibitor. Olema is headquartered in
San Francisco and has operations in Cambridge, Massachusetts. For
more information, please visit us at www.olema.com.
Contact:Geoffrey Mogilner, Vice President, Investor
Relations and Communicationsir@olema.com
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