Olema Pharmaceuticals Enters Material Agreement

TL;DR

Olema just signed a big deal, creating new financial obligations. Details TBD.

AI Summary

Olema Pharmaceuticals, Inc. entered into a material definitive agreement on June 28, 2024, which also created a direct financial obligation or an obligation under an off-balance sheet arrangement. The specific details of this agreement and the resulting financial obligations are not disclosed in this filing.

Why It Matters

This filing indicates a significant new financial commitment or arrangement for Olema Pharmaceuticals, which could impact its future operations and financial health.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and a new financial obligation, but the lack of specific details introduces uncertainty about the associated risks.

Key Players & Entities

• Olema Pharmaceuticals, Inc. (company) — Registrant
• June 28, 2024 (date) — Date of earliest event reported
• 780 Brannan Street, San Francisco, California 94103 (address) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share OLMA The Nasdaq Global Se
• $50 million — amount of the loan facility from up to $50 million to up to $100 million, of which $25 mil
• $100 m — acility from up to $50 million to up to $100 million, of which $25 million is currentl
• $25 million — million to up to $100 million, of which $25 million is currently available, an additional $

Filing Documents

• olma-20240628.htm (8-K) — 38KB
• 0000950170-24-080546.txt ( ) — 150KB
• olma-20240628.xsd (EX-101.SCH) — 24KB
• olma-20240628_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Amendment to Loan Agreement On June 28, 2024, Olema Pharmaceuticals, Inc., a Delaware corporation (the "Company") entered into a First Amendment to Loan and Security Agreement (the "Amendment"), by and between the Company, as borrower, and Silicon Valley Bank, a division of First-Citizens Bank & Trust Company (the "Bank"), which amends the terms of that certain Loan and Security Agreement, dated September 5, 2023, by and between the Company and the Bank (the "Loan Agreement"). The Amendment amends the Loan Agreement in order to, among other things, (i) increase the aggregate principal amount of the loan facility from up to $50 million to up to $100 million, of which $25 million is currently available, an additional $25 million will become available upon the Company achieving certain milestones related to execution of a first line pivotal Phase 3 clinical trial of palazestrant in combination with ribociclib, and an additional $50 million which may be made available upon approval of the Bank, and (ii) extend the maturity date by 11 months to July 1, 2028. No funds have been drawn under the Loan Agreement to date. The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2024. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The disclosures set forth in Item 1.01 above regarding the Amendment are incorporated in this Item 2.03.

Forward-Looking Statements

Forward-Looking Statements

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. OLEMA PHARMACEUTICALS, INC. Date: July 2, 2024 By: /s/ Shane Kovacs Shane Kovacs Chief Operating and Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR