United States securities and exchange commission logo

                               November 4, 2020

       Sean Bohen
       Chief Executive Officer
       Olema Pharmaceuticals, Inc.
       512 2nd Street, 4th Floor
       San Francisco, CA 94107

                                                        Re: Olema
Pharmaceuticals, Inc.
Statement on Form S-1
                                                            Filed October 30,
                                                            File No. 333-249748

       Dear Dr. Bohen:

              We have reviewed your registration statement and have the
following comments. In
       some of our comments, we may ask you to provide us with information so
we may better
       understand your disclosure.

              Please respond to this letter by amending your registration
statement and providing the
       requested information. If you do not believe our comments apply to your
facts and
       circumstances or do not believe an amendment is appropriate, please tell
us why in your

              After reviewing any amendment to your registration statement and
the information you
       provide in response to these comments, we may have additional comments.

       Registration Statement on Form S-1

       Clinical trial collaboration and supply agreement with Novartis, page

   1.                                                   We note your disclosure
that Novartis will reimburse you for a majority of the direct
                                                        outside costs that you
incur related to conducting the activities under the agreed
                                                        development plan in
conducting the clinical trials for the combined therapies. Please
                                                        revise to disclose that
there is an aggregate cap on the amount of direct outside costs that
                                                        Novartis is responsible
for reimbursing and quantify the general range of such cap.
               We remind you that the company and its management are
responsible for the accuracy
       and adequacy of their disclosures, notwithstanding any review, comments,
action or absence of
       action by the staff.
 Sean Bohen
Olema Pharmaceuticals, Inc.
November 4, 2020
Page 2

       Refer to Rules 460 and 461 regarding requests for acceleration. Please
allow adequate
time for us to review any amendment prior to the requested effective date of
the registration

       You may contact Jeanne Bennett at 202-551-3606 or Kate Tillan at
202-551-3604 if you
have questions regarding comments on the financial statements and related
matters. Please
contact Donald Field at 202-551-3680 or Dietrich King at 202-551-8071 with any

FirstName LastNameSean Bohen                               Sincerely,
Comapany NameOlema Pharmaceuticals, Inc.
                                                           Division of
Corporation Finance
November 4, 2020 Page 2                                    Office of Life
FirstName LastName