New Financial Obligation Form 8 K

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.