Rain Enhancement Stock Price, News & Analysis

Rain Oncology Inc. (RAIN) has published a peer-reviewed article detailing Phase 1 clinical data of its drug, milademetan, a p53-MDM2 complex inhibitor, in advanced dedifferentiated liposarcoma (DD LPS). The study indicates that intermittent dosing (260 mg qd, 3/14 days) demonstrates favorable safety and tolerability, leading to a median progression-free survival (mPFS) of 7.4 months for patients on this schedule. The company is preparing for the registrational Phase 3 MANTRA trial and has reported a significant reduction in severe drug-related thrombocytopenia compared to continuous dosing. Milademetan has received Orphan Drug Designation from the FDA.

Rain Therapeutics Inc. will change its name to Rain Oncology Inc. effective December 30, 2022, to better represent its focus on precision oncology for cancer patients. CEO Avanish Vellanki emphasized the company's dedication to developing new strategies in this field. The name change will not affect current stockholders, and the ticker symbol RAIN will remain unchanged. Rain is working on its lead product candidate, milademetan, an oral MDM2-p53 complex inhibitor, and aims to utilize a tumor-agnostic approach in its oncology therapies.

Rain Therapeutics Inc. (NasdaqGS: RAIN) announced its participation in the J.P. Morgan 41st Annual Health Care Conference from January 9-12, 2023, in San Francisco, CA. CEO Avanish Vellanki will present on January 11, 2023, at 9:00 a.m. PT, offering a corporate overview. Rain is a late-stage biotechnology firm focusing on precision oncology therapeutics, notably its lead candidate, milademetan, an oral inhibitor of the MDM2-p53 complex, designed to reactivate p53.

The company utilizes a tumor-agnostic strategy to identify patients likely to benefit from its therapies.

Rain Therapeutics Inc. (NasdaqGS: RAIN) has announced a poster presentation at the 2022 San Antonio Breast Cancer Symposium, scheduled for December 6-10, 2022. The presentation will focus on genetic alterations in breast cancer linked to MDM2 dependency and sensitivity to milademetan, an oral inhibitor targeting the MDM2-p53 complex. The poster session is set for December 9, 2022, at the Henry B. Gonzalez Convention Center. Rain aims to use precision oncology to select patients based on genetic profiles rather than tumor histology.

Rain Therapeutics (NasdaqGS: RAIN) announced its participation in Piper Sandler’s 34th Annual Healthcare Conference from November 29 to December 1, 2022, in New York. CEO Avanish Vellanki will join a fireside chat on December 1 at 1:30 p.m. ET. The event will be accessible via webcast. Rain Therapeutics specializes in precision oncology and is developing milademetan, an oral inhibitor targeting the MDM2-p53 complex to reactivate p53. The company also has a preclinical program aimed at inducing synthetic lethality in cancer cells through RAD52 inhibition.

Rain Therapeutics Inc. (NASDAQ: RAIN) announced an oral presentation on its lead product candidate, milademetan, at the Connective Tissue Oncology Society Annual Meeting in Vancouver, Canada, from November 16-19, 2022. The presentation, titled Sustained disease control with MDM2 inhibitor milademetan in patients with advanced dedifferentiated liposarcoma, will be given by Dr. Mrinal M. Gounder on November 17, 2022. Rain Therapeutics focuses on precision oncology, developing therapies targeting oncogenic drivers, alongside a preclinical program inhibiting RAD52.

Rain Therapeutics (NasdaqGS: RAIN) announced participation in the H.C. Wainwright’s 3rd Annual Precision Oncology Conference on November 14, 2022. The company’s management will engage in one-on-one investor meetings, with CEO Avanish Vellanki featured in a fireside chat at 1:00 PM ET. Rain is focused on developing precision oncology therapeutics, including its lead candidate milademetan, an oral small molecule that reactivates p53 by inhibiting the MDM2-p53 complex. The company is also advancing a preclinical program targeting RAD52.

Rain Therapeutics reported a Q3 net loss of $18 million, slightly decreasing from $18.4 million in Q3 2021. The end of Q3 cash position stands at $90.7 million, bolstered by a recent $50 million stock offering, ensuring a cash runway into 2025. The Phase 3 MANTRA trial's topline data is expected in Q1 2023, while early data from the Phase 2 MANTRA-2 trial shows promising results in patients with MDM2-amplified cancers. The MANTRA-3 trial has been deprioritized to optimize resource allocation. Rain continues to advance its milademetan therapies.

Rain Therapeutics Inc. (NASDAQ: RAIN) announced a registered offering of 6,861,080 shares of common stock and 1,715,250 shares of non-voting common stock priced at $5.83 per share, aiming to raise approximately $50 million. The offering is expected to close by November 8, 2022. Proceeds will be utilized for clinical development, commercial launch preparation, working capital, and general corporate purposes. Leading investors, including Deerfield Management and Janus Henderson Investors, are participating in the offering.