INVESTIGATION ALERT: The Gross Law Firm Notifies Shareholders of Rain Oncology Inc. of an Investigation and Potential Class Action Lawsuit - (NASDAQ: RAIN)

NEW YORK, July 6, 2023 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Rain Oncology Inc.:

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.

Due to the forgoing, The Gross Law Firm is investigating potential securities fraud claims on behalf of certain Rain investors. If you incurred a loss on your RAIN investment, please contact us using the link below to discuss your rights.

https://securitiesclasslaw.com/securities/rain-loss-submission-form/?id=41690&from=4

WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [e-mail]
Phone: [phone]

View original content:https://www.prnewswire.com/news-releases/investigation-alert-the-gross-law-firm-notifies-shareholders-of-rain-oncology-inc-of-an-investigation-and-potential-class-action-lawsuit--nasdaq-rain-301870548.html

SOURCE The Gross Law Firm

Copyright 2023 PR Newswire