NEW
YORK, July 6, 2023 /PRNewswire/ -- The Gross Law
Firm issues the following notice to shareholders of Rain Oncology
Inc.:
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.
Due to the forgoing, The Gross Law Firm is investigating
potential securities fraud claims on behalf of certain
Rain investors. If you incurred a loss on your RAIN investment,
please contact us using the link below to discuss your rights.
https://securitiesclasslaw.com/securities/rain-loss-submission-form/?id=41690&from=4
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross Law
Firm is committed to ensuring that companies adhere to responsible
business practices and engage in good corporate citizenship. The
firm seeks recovery on behalf of investors who incurred losses when
false and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm