RAIN NEWS: The Klein Law Firm Initiates an Investigation Involving Possible Securities Fraud Violations by Officers of Rain Oncology Inc.

NEW YORK, June 27, 2023 /PRNewswire/ -- The Klein Law Firm announces that it is investigating allegations that Rain Oncology Inc. ("Rain") (NASDAQ: RAIN) violated federal securities laws.

CURRENT INVESTIGATION DETAILS: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.

HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the potential claims on behalf of RAIN investors, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/rain-lawsuit-loss-submission-form?id=41333&from=4.

ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
535 Fifth Avenue
4th Floor
New York City, NY 10017
[email protected]
Telephone: (212) 616-4899
www.kleinstocklaw.com

SOURCE The Klein Law Firm