Rain Oncology (RAIN) MANTRA study Case

N.D. California

Court

5:23-cv-3518

Case number

07/20/2021

Class period Start

05/19/2023

Class period End

09/12/2023

Lead Plaintiff motion deadline

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.

Case Status

Motion to dismiss

Alleged Offence

Misleading Statements,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

05/22/2023

Filing date

07/14/2023

Lead Plaintiff Deadline

09/12/2023

Rain Oncology (RAIN) MANTRA study Case

Collecting participants…