RAIN FRAUD ALERT: Jakubowitz Law is Investigating Rain Oncology Inc. in Connection with Potential Violations of Federal Securities Laws

NEW YORK, June 30, 2023 /PRNewswire/ -- Jakubowitz Law announces that an investigation into potential securities fraud allegations has commenced on behalf of shareholders of Rain Oncology Inc. (NASDAQ: RAIN)

To be contacted by a member of our team, fill out the form:

https://claimyourloss.com/securities/rain-class-action-loss-submission-form/?id=41539&from=4

Further details on the investigation: 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.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

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SOURCE Jakubowitz Law