Olema Pharmaceuticals, Inc. disclosed a Form 4 ownership-change report involving a group of biotechnology investment funds and affiliated entities associated with BVF Partners. The report is dated June 18, 2026, and was filed on June 23, 2026. It concerns Olema’s common stock, par value $0.0001 per share, trading under the ticker OLMA. The filing was made jointly by Biotechnology Value Fund, L.P.; Biotechnology Value Fund II, L.P.; Biotechnology Value Trading Fund OS LP; BVF Partners OS Ltd.; BVF I GP LLC; BVF II GP LLC; BVF GP Holdings LLC; BVF Partners L.P.; BVF Inc.; and Mark N. Lampert. The filing states that these parties are collectively “Reporting Persons” and are members of a Section 13(d) group with respect to Olema’s outstanding common shares. That designation indicates they may be treated as acting together for beneficial ownership reporting purposes. The document excerpt provided does not include the transaction table that would normally specify the exact insider transaction details—such as share counts, acquisition or disposition prices, transaction codes, or post-transaction ownership totals. As a result, the filing clearly reports an ownership-change event involving Olema common stock on June 18, 2026, but the specific trade or transfer details are not visible in the supplied text. The explanatory notes focus on how beneficial ownership is attributed across the BVF investment structure. Securities owned directly by Biotechnology Value Fund, L.P. may also be deemed beneficially owned by BVF I GP LLC as its general partner, BVF GP Holdings LLC as sole member of that general partner, BVF Partners L.P. as investment manager, BVF Inc. as investment adviser and general partner of BVF Partners, and Mark N. Lampert as a director and officer of BVF Inc. A similar chain of deemed beneficial ownership is described for securities owned directly by Biotechnology Value Fund II, L.P., through BVF II GP LLC and the same broader BVF management entities. The Reporting Persons expressly disclaim beneficial ownership of the Olema securities reported in the filing except to the extent of their respective pecuniary interests. This is a common note in institutional insider filings, particularly where multiple affiliated funds, advisers, general partners, and individuals may be deemed to share voting or investment power over securities held by investment vehicles. The filing matters because BVF and its affiliates are reporting persons in a coordinated ownership group, and any changes in their Olema holdings can be significant to investors monitoring institutional insider activity and major shareholder positioning.