NEW
YORK, June 30, 2023 /PRNewswire/
-- Jakubowitz Law announces that an investigation into
potential securities fraud allegations has commenced
on behalf of shareholders of Rain Oncology Inc. (NASDAQ: RAIN)
To be contacted by a member of our team, fill out the
form:
https://claimyourloss.com/securities/rain-class-action-loss-submission-form/?id=41539&from=4
Further details on the investigation: 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.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities
fraud. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
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SOURCE Jakubowitz Law