RAIN SHAREHOLDER ALERT: Jakubowitz Law Reminds Rain Shareholders of a Lead Plaintiff Deadline of September 12, 2023

NEW YORK, July 28, 2023 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Rain Oncology Inc. (NASDAQ: RAIN).

To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/rain-class-action-loss-submission-form/?id=42668&from=4

The lawsuit seeks to recover losses for shareholders who purchased Rain between July 20, 2021 and May 19, 2023.

Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until September 12, 2023 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

According to the filed complaint, on May 22, 2023, the Company announced that milademetan failed to meet its primary endpoint of progression free survival in the MANTRA study. 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. In response to the announcement, Rain's stock price substantially dropped from $9.93 per share to $1.22 per share, eliminating approximately $316 million in market capitalization in one day.  The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company concealed risks inherent in the design of its Phase 3 MANTRA study particularly with regard to proceeding directly to Phase 3 from Phase 1; and, (ii) as a result, the Company's statements about the trial and the likelihood of FDA approval were materially misleading during the Class Period.

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.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887

SOURCE Jakubowitz Law

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