RAIN ALERT: The Law Offices of Vincent Wong Investigate Rain Oncology Inc. for Potential Violations of Securities Laws
NEW YORK, June 26, 2023 /PRNewswire/ -- Attention Rain Oncology Inc. ("Rain") (NASDAQ: RAIN) shareholders:
The Law Offices of Vincent Wong announce that an investigation has commenced into Rain and certain of its officers and directors regarding potential securities fraud. The investigation concerns, in part, the below:
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.
If you suffered a loss on your investment in Rain, contact us about potential recovery by using the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/rain-class-action-submission-form?prid=41274&wire=4
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: [email protected]
SOURCE The Law Offices of Vincent Wong
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