Olema Oncology dips after $190 mln equity offering following stock surge

Toronto-Dominion Bank

19/11/2025 12:27

** Shares of Olema Pharmaceuticals OLMA.O, branded as Olema Oncology, down 1.7% premarket at $19.79 as co takes advantage of its surging stock price to raise equity

** OLMA shares on Tues jumped ~136% to close at $20.14, about a four-year high, after competitor Roche's ROG.S oral drug giredestrant was shown in late-stage trial to cut the risk of breast cancer recurrence after surgery

** San Francisco-based OLMA early Weds announces pricing 10 mln shares at $19 for $190 mln gross raise

** It plans to use net offering proceeds for continued clinical development of its oral breast cancer drug candidates palazestrant and OP-3136, per the offering prospectus

** TD Cowen, Evercore, Guggenheim, LifeSci Capital, Oppenheimer and H.C. Wainwright are bookrunners

** OLMA has ~68.7 mln shares outstanding

** All 9 analysts covering OLMA are bullish and median PT is $31, per latest LSEG data

 (Lance Tupper is a Reuters market analyst. The views expressed are his own)

 ((lance.tupper@tr.com 1-646-279-6380))