<SEC-DOCUMENT>0001415889-23-010102.txt : 20230621
<SEC-HEADER>0001415889-23-010102.hdr.sgml : 20230621
<ACCEPTANCE-DATETIME>20230621170028
ACCESSION NUMBER:		0001415889-23-010102
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20230616
FILED AS OF DATE:		20230621
DATE AS OF CHANGE:		20230621

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Hrustanovic Gorjan
		CENTRAL INDEX KEY:			0001821194

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39712
		FILM NUMBER:		231030647

	MAIL ADDRESS:	
		STREET 1:		C/O KYMERA THERAPEUTICS, INC.
		STREET 2:		200 ARSENAL YARDS, SUITE 230
		CITY:			WATERTOWN
		STATE:			MA
		ZIP:			02472

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Olema Pharmaceuticals, Inc.
		CENTRAL INDEX KEY:			0001750284
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				300409740
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		512 2ND STREET, 4TH FLOOR
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94107
		BUSINESS PHONE:		(415) 651-3316

	MAIL ADDRESS:	
		STREET 1:		512 2ND STREET, 4TH FLOOR
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94107
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4-06212023_050605.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0407</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2023-06-16</periodOfReport>

    <issuer>
        <issuerCik>0001750284</issuerCik>
        <issuerName>Olema Pharmaceuticals, Inc.</issuerName>
        <issuerTradingSymbol>OLMA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001821194</rptOwnerCik>
            <rptOwnerName>Hrustanovic Gorjan</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O OLEMA PHARMACEUTICALS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>512 2ND STREET, 4TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>SAN FRANCISCO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94107</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>7.84</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2023-06-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>21520</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2033-06-15</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>21520</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>21520</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The shares subject to the option vest in a series of 12 successive equal monthly installments measured from June 16, 2023, subject to the Reporting Person's continuous service through each applicable vesting date. Such shares vest in full on the date of the Issuer's next annual meeting of stockholders if such stock option is not otherwise fully vested by such date, subject to the Reporting Person's continuous service through such vesting date.</footnote>
        <footnote id="F2">The Reporting Person is a member of BVF Partners L.P. (&quot;BVF&quot;) and is obligated to transfer the economic benefit, if any, received upon the sale of the shares issuable upon exercise of the equity grants to BVF. As such, the Reporting Person disclaims beneficial ownership of the securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, except to the extent of his pecuniary interest therein, if any.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Shane Kovacs, Attorney-in-Fact</signatureName>
        <signatureDate>2023-06-21</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
