Olema Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Olema Pharmaceuticals (Nasdaq: OLMA) announced the grant of stock options to three new employees totaling 42,300 shares effective March 1, 2023. These stock options, approved by the Compensation Committee, are part of the 2022 Inducement Plan and vest over four years, with an exercise price of $4.01 per share. Olema is a clinical-stage biopharmaceutical company focused on targeted therapies for women’s cancers, notably their lead candidate OP-1250, which is under evaluation for ER+/HER2- breast cancer and has received FDA Fast Track designation.
- Granting of stock options indicates company growth and hiring.
- Stock options vesting over four years may enhance employee retention.
- Lead product candidate OP-1250 has received FDA Fast Track designation.
- None.
SAN FRANCISCO, March 02, 2023 (GLOBE NEWSWIRE) -- 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 42,300 shares of the Company's common stock, effective as of March 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 March 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
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 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. OP-1250 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.
Contact:
Courtney Dugan, Vice President, Investor Relations and Communications
ir@olema.com
FAQ
What is the significance of the stock options granted by Olema Pharmaceuticals?
When were the stock options granted to Olema employees?
How many shares were included in the stock options granted by Olema?
What is the exercise price for the stock options granted by Olema?
What is Olema's lead product candidate and its current status?
Has OP-1250 received any designations from the FDA?
