Off goes OLMA. The stock gained 24% today. Here's what's going on:

Shares of Olema Pharmaceuticals, Inc. (OLMA) are trading 24% higher at a price of $5.835 at the time of this writing. The stock surged on news that the FDA had granted it fast track status for it's breast cancer treatment OP-1250. The move stood out amongst a generally strong day of thematic biotech buying in the markets.

Olema Pharmaceuticals, Inc. has been trading between a 52-week high of $32.19 and a 52-week low of $2. The stock has a market cap of $235 Million.

Olema Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on the discovery, development and commercialization of targeted therapies for women’s cancers.