Rain Oncology Inc. (RAIN)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Rain Oncology Inc. (“Rain” or the “Company”) (NASDAQ: RAIN). Investors who purchased Rain securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Rain has violated federal securities laws.
On or around April 22, 2021, Rain conducted its initial public offering (“IPO”), selling more than 7.35 million shares priced at $17.00. Then, on May 22, 2023, Rain issued a press release announcing topline results from its Phase 3 MANTRA trial of milademetan for the treatment of dedifferentiated liposarcoma (“DD LPS”). In the press release, Rain reported that “[t]he trial, evaluating the efficacy, safety, and tolerability of milademetan in patients with dedifferentiated (DD) liposarcoma (LPS), did not meet its primary endpoint of progression free survival (PFS) by blinded independent central review compared to the standard of care, trabectedin” and stated that “[b]ased upon these topline data, Rain does not expect to pursue further development of milademetan in DD LPS.” On this news, Rain’s stock price fell $8.71 per share, or 87.71%, to close at $1.22 per share on May 22, 2023.
If you are aware of any facts relating to this investigation or purchased Rain shares, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.