---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-131965"
form_type: "8-K"
ticker: "OLMA"
cik: "0001750284"
company_name: "Olema Pharmaceuticals, Inc."
filed_at: "2024-12-02T23:59:59+00:00"
generated_at: "2026-05-29T11:27:35.182928+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Olema Pharma enters Novartis collaboration for Phase 3 breast cancer trial and raises $250M

## Summary
- Collaboration with Novartis provides ribociclib supply for planned Phase 3 OPERA-02 trial of palazestrant in ER+/HER2- frontline advanced/metastatic breast cancer, initiation expected mid-2025.
- $250M private placement: 19,928,875 shares at $9.08 and pre-funded warrants for 7,604,163 shares; gross proceeds ~$250M, closing expected Dec 4, 2024.
- Novartis receives right of first negotiation on any sale of palazestrant or change of control; repayment obligation of up to ~$275M proportional to ribociclib supplied.
- Proceeds to fund OPERA-02, Phase 1/2 OP-3136 study, ongoing Phase 3 OPERA-01 monotherapy trial; OPERA-01 topline data expected in 2026.
- Investors include Adage Capital, Bain Capital Life Sciences, BVF, Driehaus, Janus Henderson, Paradigm, Wellington, Woodline, and a large investment manager.

## SEC filing metadata
- accession: 0000950170-24-131965
- form_type: 8-K
- ticker: OLMA
- cik: 0001750284
- company_name: Olema Pharmaceuticals, Inc.
- filed_at: 2024-12-02T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1750284/000095017024131965/0000950170-24-131965-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1750284/000095017024131965/olma-20241129.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-131965
- JSON: https://secwatch.observer/filing/0000950170-24-131965.json
- Plain text: https://secwatch.observer/filing/0000950170-24-131965.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.