SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Rain Oncology Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of September 12, 2023 - (NASDAQ: RAIN)

NEW YORK, Aug. 29, 2023 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Rain Oncology Inc..

Shareholders who purchased shares of RAIN during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.

CONTACT US HERE:

https://securitiesclasslaw.com/securities/rain-loss-submission-form/?id=45076&from=4

CLASS PERIOD: July 20, 2021 to May 19, 2023

ALLEGATIONS: 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.

DEADLINE: September 12, 2023 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/rain-loss-submission-form/?id=45076&from=4

NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of RAIN during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is September 12, 2023. There is no cost or obligation to you to participate in this case.

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]

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SOURCE The Gross Law Firm

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