An investigation for investors in Rain Oncology Inc. (NASDAQ:RAIN) shares over potential securities laws violations by Rain Oncology Inc. was announced.
San Diego, CA -- (SBWIRE) -- 06/09/2023 -- Rain Oncology Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Rain Oncology Inc. (NASDAQ: RAIN), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Rain Oncology Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Newark, CA based 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. On May 22, 2023 Rain Oncology Inc. announced its 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 "[b]ased upon these topline data, Rain does not expect to pursue further development of milademetan in DD LPS."
Shares of Rain Oncology Inc. (NASDAQ: RAIN) declined from $10.51 per share on May 19, 2023, to as low as $0.94 per share on May 30, 2023.
Those who purchased shares of Rain Oncology Inc. (NASDAQ: RAIN) have certain options and should contact the Shareholders Foundation.
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