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id: 778, Created by Stan Vick, Scout
Rain Oncology (RAIN) MANTRA study Case
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- Rain Oncology announced that milademetan failed to meet its primary endpoint of progression-free survival.
- $RAIN fell by 88% and lost $230M of its market cap.
- Investors may suspect Rain and its Executives of misleading.
On May 22, 2023, Rain Oncology (RAIN) announced topline results from its Phase 3 MANTRA trial of milademetan. The Company’s press release stated, “The 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 “based upon these topline data, Rain does not expect to pursue further development of milademetan in DD LPS.”
Moreover, the Company announced adverse event findings that, according to analysts, indicated that the dosing schedule had not been optimized prior to commencing the study
On this news, $RAIN fell by 88% and lost $230 million of its market capitalization, seriously damaging investors.
Taking all facts into account, Investors may suspect Rain and its Executives of misleading.
Failure to Disclose,
Shock Event Date
22 May 2023
14 July 2023
Lead Plaintiff Deadline
12 September 2023