Rain Enhancement Stock Price, News & Analysis

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.

Rain Therapeutics Inc. (NasdaqGS: RAIN) announced preliminary results from its Phase 2 MANTRA-2 trial evaluating milademetan, an oral MDM2 inhibitor, on November 4, 2022. Out of ten efficacy-evaluable patients, two showed an unconfirmed partial response, while two others exhibited significant tumor regression. The drug's safety profile remains consistent with prior trials. Enrollment will continue, with a protocol amendment planned to adjust MDM2 copy number thresholds. The trial aims to evaluate milademetan's efficacy in patients with advanced solid tumors.

Rain Therapeutics Inc. (NasdaqGS: RAIN), a biotechnology firm focused on precision oncology, will announce its third-quarter financial results for the period ending September 30, 2022, on November 10, 2022. The report will include updates on its lead product candidate, milademetan, an oral inhibitor targeting the MDM2-p53 complex. A conference call is scheduled for 2:00 PM PT (5:00 PM ET) on the same day to discuss the results and business developments.

Rain Therapeutics Inc. (NasdaqGS: RAIN) presented a poster on milademetan, a small molecule inhibitor targeting the MDM2-p53 complex, at the 34th EORTC/AACR/NCI Symposium in Barcelona on October 26, 2022. The presentation titled "Combination of MDM2 inhibition with milademetan and MEK inhibition leads to improved anti-tumor activity in cancer models harboring WT TP53" was led by Dr. Vijaya G. Tirunagaru. Rain Therapeutics focuses on precision oncology, utilizing a genetically-based patient selection strategy for its therapies, including milademetan, which reactivates the p53 protein.

Rain Therapeutics (NasdaqGS: RAIN) has announced its participation in Citi’s 17th Annual BioPharma Conference, scheduled for September 7-8, 2022, at the Four Seasons Hotel, Boston, MA. CEO Avanish Vellanki will be part of a targeted oncology panel on September 8 from 2:40-3:25 PM ET. The company focuses on developing precision oncology therapies, including milademetan, a small molecule inhibitor of the MDM2-p53 complex, which reactivates p53. Rain emphasizes a tumor-agnostic strategy to select patients based on genetic profiles.

Rain Therapeutics Inc. (NASDAQ: RAIN) reported a net loss of $17.6 million for Q2 2022, increasing from $8.2 million in Q2 2021. For the six months ended June 30, 2022, losses totaled $35 million, up from $15 million in the prior year. The company's cash position stands at $105.7 million, providing sufficient runway into mid-2024. Notably, the Phase 3 MANTRA trial completed enrollment five months early, with topline data expected in H1 2023. Ongoing clinical trials, including MANTRA-2 and anticipated MANTRA-3, show a strong pipeline for the milademetan program.

Rain Therapeutics has successfully completed enrollment for its Phase 3 MANTRA trial, five months ahead of schedule, with 175 patients recruited for the study of milademetan. This trial targets patients with well-differentiated/dedifferentiated liposarcoma who have progressed on prior therapies. The primary endpoint is progression-free survival, with topline data expected in the first half of 2023. Milademetan is positioned as a novel therapy aiming to reactivate p53 and has shown promise in earlier trials.