secwatch.observer — SEC 8-K summary
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Issuer:     Olema Pharmaceuticals, Inc. (OLMA)
CIK:        0001750284
Form:       8-K
Filed at:   2024-12-02T23:59:59+00:00
Accession:  0000950170-24-131965
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1750284/000095017024131965/0000950170-24-131965-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1750284/000095017024131965/olma-20241129.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-131965

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer