BUZZ-Olema jumps on deal with Aurigene to develop cancer therapies

** Biopharma co Olema Pharmaceuticals Inc's shares up 12.5% at $4.5 premarket ** Co announces exclusive collaboration and license agreement with Aurigene to discover and develop novel cancer therapies

** OLMA to make an upfront licensing payment of $8 million for rights to a pre-existing Aurigene program ** Aurigene will be eligible for up to $60 million in potential clinical development and regulatory milestones and up to $370 million in potential commercial milestones

** OLMA says current cash sufficient to fund planned research and development operations into H2 2024 ** Stock down ~58% YTD, as of last close