SAN FRANCISCO, Sept. 02, 2026 (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 breast cancer and beyond, today announced that, in connection with the appointment of Jason V. O’Byrne as Chief Financial Officer effective August 11, 2026, the Company granted Mr. O’Byrne an employment inducement award consisting of stock options to purchase 650,000 shares of the Company’s common stock, with an effective grant date of September 1, 2026 and an exercise price of $10.56 per share, equal to the last reported sale price of the Company's common stock as reported by Nasdaq on September 1, 2026. The award was approved by the Compensation Committee of Olema’s Board of Directors and granted under the Company's 2022 Inducement Plan. The stock options vest over four years, with 25 percent vesting on August 11, 2027 and the remainder vesting in 36 equal monthly installments over the following three years, subject to continuous employment as of such vesting dates.

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 committed to transforming the standard of care and improving outcomes for patients living with breast cancer and beyond. Olema is advancing a pipeline of novel therapies by leveraging our deep understanding of endocrine-driven cancers, nuclear receptors, and mechanisms of acquired resistance. Our lead product candidate, palazestrant (OP-1250), is a proprietary, orally available complete estrogen receptor antagonist (CERAN) and a selective estrogen receptor degrader (SERD), currently in two Phase 3 clinical trials. In addition, Olema is developing OP-3136, a potent lysine acetyltransferase 6 (KAT6) inhibitor, now in a Phase 1 clinical study. Olema is headquartered in San Francisco and has operations in Cambridge, Massachusetts. For more information, please visit www.olema.com.

Media and Investor Relations Contact
Courtney O’Konek
Vice President, Corporate Communications
Olema Oncology
media@olema.com