NEW
YORK, June 28, 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=41389&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