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 Inc. (NASDAQ: RAIN) will present a corporate overview at the SVB Leerink 11th Annual Global Healthcare Conference on February 18, 2022, at 1:40 pm ET. CEO Avanish Vellanki will lead the presentation, followed by a Q&A session. The presentation will be available for replay on the Rain website for 30 days post-event. Rain specializes in precision oncology, targeting oncogenic drivers and selecting patients based on genetic profiles, with its lead candidate being milademetan, an MDM2 inhibitor effective in various cancers.
Rain Therapeutics Inc. (NASDAQ: RAIN) will participate in two upcoming virtual events. CEO Avanish Vellanki will present at the B. Riley Securities Oncology Investor Conference on January 27, 2022, at 3:30 pm ET. Additionally, Rain will be featured in a virtual fireside chat at the Guggenheim Oncology Conference on February 10, 2022, at 4:00 pm ET. Both events will provide insights into the company's precision oncology therapies, including their leading candidate, milademetan. Replays of these presentations will be available on Rain’s official website for 30 days post-event.
Rain Therapeutics Inc. has announced a clinical supply agreement with Roche to evaluate the combination of milademetan, an MDM2 inhibitor, with atezolizumab, a PD-L1 antibody, targeting genetically selected cancer patients. This agreement includes plans for a Phase 1 trial assessing safety and efficacy in patients with specific tumors, with a launch expected in the second half of 2022. Rain is also advancing milademetan's use in other ongoing trials for various cancers and has received FDA Orphan Drug Designation for liposarcoma.
Rain Therapeutics Inc. (NasdaqGS: RAIN) announced that CEO Avanish Vellanki will present at two upcoming virtual conferences: the JP Morgan Chase 40th Annual Healthcare Conference on January 13, 2022, and the H.C. Wainwright Bioconnect Conference starting January 10, 2022. The JP Morgan presentation will be live at 11:15 a.m. ET, while H.C. Wainwright will feature a prerecorded session available from 7:00 a.m. ET. Both events highlight Rain's focus on precision oncology, targeting therapies for genetically selected patients.
Rain Therapeutics Inc. (NASDAQ: RAIN) announced its inclusion in the NASDAQ Biotechnology Index (NBI), effective December 20, 2021. This index tracks NASDAQ-listed companies in the biotechnology and pharmaceuticals sector. To qualify, companies must have a market cap of at least $200 million and an average daily trading volume of 100,000 shares. Rain Therapeutics focuses on developing precision oncology therapies, including its lead candidate, milademetan, an oral MDM2 inhibitor targeting various cancers. This index inclusion may enhance visibility and investment interest in Rain.
Rain Therapeutics Inc. (NasdaqGS: RAIN) announced that its CEO, Avanish Vellanki, will partake in two upcoming virtual conferences: the Piper Sandler 33rd Annual Healthcare Conference from November 29 to December 2, 2021, and the Evercore ISI 4th Annual Health CONx Virtual Conference on December 2, 2021. The Piper Sandler presentation will be available starting November 22, 2021, at 10:00 a.m. ET. Both events will include webcasts accessible through Rain's website, with replays available for 30 days post-presentation. Rain focuses on precision oncology, developing targeted therapies for cancer.
Rain Therapeutics has initiated the Phase 2 MANTRA-2 trial to assess the safety and efficacy of milademetan, an MDM2 inhibitor, in patients with MDM2-amplified advanced solid tumors. The trial aims to enroll approximately 65 patients refractory to standard therapies, focusing on wild-type p53 tumors. The primary endpoint is the objective response rate. Interim results are expected in late 2022. Milademetan has shown promise in earlier trials, including a Phase 1 study demonstrating anti-tumor activity in liposarcoma and other solid tumors.
Rain Therapeutics reported a net loss of $18.4 million for Q3 2021 and $33.4 million for the first nine months, compared to losses of $10.4 million and $15.6 million in the same periods of 2020. The company ended Q3 with $150.1 million in cash, providing a runway to advance clinical trials, including the MANTRA-3 trial for milademetan in Merkel cell carcinoma, set to start in mid-2022. R&D expenses rose to $15.3 million for Q3 2021, up from $7.9 million in Q3 2020. Milademetan shows promise in ongoing and upcoming trials, aiming for significant oncology advancements.
Rain Therapeutics (NASDAQ: RAIN) has announced the initiation of the MANTRA-3 Phase 2 clinical trial for milademetan as a treatment for Merkel cell carcinoma (MCC) in patients who are resistant to immunotherapy. The trial, set to start mid-2022, will enroll approximately 30 patients. The primary objective is to assess the objective response rate through RECIST criteria. This move comes after promising preclinical results and replaces a previously planned trial for intimal sarcoma. Rain will also host its first annual R&D Day webinar today to discuss relevant oncology research.
Rain Therapeutics Inc. (NasdaqGS: RAIN) is set to report its Q3 financial results for the period ending September 30, 2021, on November 10, 2021. The company will also highlight recent advancements in precision oncology therapeutics during a conference call at 1:30 p.m. PT (4:30 p.m. ET). Rain focuses on developing therapies targeting oncogenic drivers through a tumor-agnostic strategy, with its lead candidate milademetan (RAIN-32) being an oral MDM2 inhibitor. Investors can access a recorded version of the call on the company’s website for 30 days.
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