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RAIN.US
id: 778, Created by Stan Vick, Scout

Rain Oncology (RAIN) MANTRA study Case

N.D. California
Court
3:23-cv-03518
Case number
  • 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.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
22 May 2023
Filing date
14 July 2023
Lead Plaintiff Deadline
12 September 2023
Collecting participants…
Created by Stan Vick, Scout

Rain Therapeutics Inc

Rain Oncology Inc., a late-stage precision oncology company, engages in developing therapies that target oncogenic drivers to genetically select patients in the United States. The company's lead pr...

    Ticker
    RAIN.US
    ISIN
    US75082Q1058
    CIK
    1724979
    Sector
    Healthcare
    Industry
    Biotechnology
    Country
    USA
    Address
    8000 Jarvis Avenue, Newark, CA, United States, 94560