Welcome to our dedicated page for Rain Oncology news (Ticker: RAIN), a resource for investors and traders seeking the latest updates and insights on Rain Oncology stock.
Rain Oncology Inc. (NasdaqGS: RAIN) is a biotechnology company based in the San Francisco Bay Area, specializing in the development of small molecule targeted therapeutics for cancer patients. The company's focus is on identifying and targeting single, clear oncogenic drivers to provide precision medicine solutions.
Rain's leading product candidate, milademetan, is an oral inhibitor of the p53-MDM2 complex designed to reactivate p53, a protein that plays a crucial role in controlling cell division and suppressing tumors. This promising therapy is currently undergoing Phase 3 trials for dedifferentiated liposarcoma (MANTRA) and Phase 2 tumor-agnostic basket trials (MANTRA-2).
During the second quarter of 2023, Rain reported substantial financial results. Despite a net loss of $22.1 million for Q2 2023, Rain remains financially strong with $86.3 million in cash and short-term investments. Research and development expenses increased due to ongoing clinical trials and personnel costs, while general and administrative expenses rose in anticipation of the commercial launch of milademetan.
Looking ahead, Rain is actively exploring strategic opportunities, including licensing, acquiring clinical-stage programs, and partnering with companies with proprietary technology. These efforts aim to develop innovative drug candidates and enhance shareholder value.
In a significant development, Rain's Board of Directors unanimously approved a merger agreement with Pathos AI, Inc., a clinical-stage biotechnology company leveraging AI technologies to advance precision medicines. The merger, expected to close in January 2024, offers Rain shareholders a premium on their stock and positions the company as a wholly-owned subsidiary under Pathos.
Rain Oncology Inc. continues to make strides in precision oncology, aiming to bring effective cancer therapies to patients and deliver value to its stakeholders.
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.
Rain Therapeutics has completed enrollment in its Phase 3 MANTRA trial for milademetan, an oral MDM2-p53 complex inhibitor, achieving this milestone five months ahead of schedule. The trial involved 175 patients with well-differentiated/dedifferentiated liposarcoma (WD/DD LPS) and aims to show a doubling of progression-free survival compared to the standard of care. Topline data is expected in the first half of 2023. Rain anticipates additional trials for milademetan targeting various cancers, with the drug already having received orphan drug designation from the FDA.
Rain Therapeutics Inc. (NASDAQ: RAIN) will announce its Q2 financial results on August 4, 2022, at 2:00 PM PT. The company is focused on precision oncology therapeutics, particularly its lead candidate, milademetan, which targets oncogenic drivers. The announcement will include a conference call to discuss financial results and recent progress. Investors can access a replay via the company’s website afterwards. Rain Therapeutics is committed to genetically selecting patients for its therapies, enhancing treatment specificity in cancer care.
Rain Therapeutics (NasdaqGS: RAIN) announced three poster presentations at the 2022 ASCO Annual Meeting, focusing on their oral MDM2 inhibitor, milademetan. The presentations will cover:
- Using CDKN2A loss to predict sensitivity (Abstract 3136)
- MANTRA: A phase 3 study of milademetan vs. trabectedin in dedifferentiated liposarcomas (Abstract TPS11589)
- MANTRA-2: A phase 2 study in TP53-wild type tumors (Abstract TPS3165)
All posters will be available on the Rain website following the event.
Rain Therapeutics Inc. (NASDAQ: RAIN) announced its Q1 2022 results, reporting a net loss of $17.4 million compared to $6.8 million in the same quarter last year. The company has a cash position of $123.2 million, providing a runway into the first half of 2024 for its clinical programs. Key updates include earlier-than-expected topline data from the Phase 3 MANTRA trial for liposarcoma slated for H1 2023 and planned commencement of Phase 2 trials MANTRA-3 and MANTRA-4 in Q4 2022. Research and development expenses rose to $13.6 million, largely due to ongoing trials.
Rain Therapeutics Inc. (NasdaqGS: RAIN) is set to report its financial results for Q1 2022, ending March 31, on May 4, 2022. The announcement highlights the company’s progress in precision oncology. Following the report, a conference call will take place at 2:00 PM PT (5:00 PM ET) to discuss business performance. Rain specializes in developing therapies targeting oncogenic drivers, including its lead candidate, milademetan, an oral MDM2 inhibitor. This precision approach aims to select patients based on tumor genetics.
Rain Therapeutics Inc. (NASDAQ: RAIN) will present a poster and two trials at the AACR Annual Meeting 2022 from April 8-13. The poster, titled Exploration of MDM2 gene amplification, emphasizes the prognosis in solid tumors and will be presented by Dr. Vijaya Tirunagaru on April 11. The ongoing trials include a phase 2 study of the MDM2 inhibitor milademetan and a phase 3 trial comparing it against trabectedin in liposarcomas. These presentations highlight Rain's focus on precision oncology and genetic patient selection for better therapeutic outcomes.
Rain Therapeutics reported a net loss of $18.0 million for Q4 2021, leading to a total annual loss of $51.4 million. Despite this, the company maintains a strong cash position of $140.2 million, expected to fund ongoing clinical trials, including a pivotal Phase 3 trial for milademetan in liposarcoma. Both MANTRA and MANTRA-2 trials are progressing on schedule, with all site activations anticipated by Q1 2022. Rain has also entered a supply agreement with Roche for atezolizumab, supporting a Phase 1 combination trial set for later in 2022.
Rain Therapeutics Inc. (NasdaqGS: RAIN) will report its financial results for Q4 and the full year ended December 31, 2021, on March 3, 2022. The late-stage precision oncology firm focuses on developing therapies targeting oncogenic drivers. A conference call will be held on the same day at 1:30 pm PT (4:30 pm ET) to discuss business and financial results. Rain’s lead product, milademetan, is an oral MDM2 inhibitor, and the company is also working on a preclinical program targeting RAD52.
Rain Therapeutics has expanded its leadership team with experienced professionals from notable firms such as Loxo/Lilly, Gilead, Seagen, and AltruBio. Key new appointments include Nora Ku as VP of Clinical Development, Buenaflor Nicolas as VP of Global Drug Safety, Tina Kim-Hafken as VP of Regulatory Affairs, and Steve Flint as VP of People & Culture. Additionally, John Maraganore continues as a Special Advisor since March 2021. These strategic hires aim to enhance Rain’s late-stage clinical and regulatory operations as they develop innovative cancer therapies, particularly the oral inhibitor milademetan.
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