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. (NasdaqGS: RAIN) will host a virtual Research and Development (R&D) day on November 9, 2021, featuring prominent oncology experts discussing milademetan, a precision oncology therapy targeting MDM2-mediated p53 loss. CEO Avanish Vellanki expressed excitement to share updates on the drug's potential in various cancer populations. Key opinion leaders will present findings related to ER+ breast cancer, Merkel cell carcinoma, and liposarcoma, among others. The event will also include management insights and Q&A sessions.
Rain Therapeutics presented promising data on its MDM2 inhibitor, milademetan, at the 2021 AACR-NCI-EORTC conference. The findings suggest significant anti-tumor activity in genetically selected models including advanced cancers with MDM2 amplification, and GATA3 mutant ER-positive breast cancer. Notably, milademetan showed the potential to treat Merkel cell carcinoma and ER+ breast cancer that are resistant to current therapies. The company is ongoing with Phase 3 trials for liposarcoma and plans a Phase 2 tumor-agnostic trial.
Rain Therapeutics has announced its participation in the 2021 AACR-NCI-EORTC Virtual International Conference on Molecular Targets and Cancer Therapeutics from October 7-10, 2021. The company will present three posters on its MDM2 inhibitor, milademetan, highlighting its potential as a therapeutic target. Notable presentations include the predictive biomarker for milademetan and its effectiveness in various cancers. Furthermore, Rain will host an R&D day webinar on November 9, 2021, at 11:00 am ET, discussing ongoing research and key data.
Rain Therapeutics Inc. (NasdaqGS: RAIN) is scheduled to present at the Cantor Fitzgerald Virtual Global Healthcare Conference from September 27-30, 2021. CEO Avanish Vellanki will lead the presentation on September 30, 2021, at 10:00 a.m. ET, which can be accessed via a webcast link or through Rain's website. The event aims to showcase Rain’s advancements in precision oncology therapeutics, including their lead product candidate, milademetan, a small molecule oral inhibitor targeting MDM2. A replay will be available on their website for 30 days after the event.
Rain Therapeutics Inc. (NasdaqGS: RAIN) announced that CEO Avanish Vellanki will present at the H.C. Wainwright 23rd Annual Global Investment Conference, occurring virtually from September 13-15, 2021. Vellanki's presentation is scheduled for September 13 at 7:00 a.m. ET. Interested parties can access the presentation via a webcast link or through the Rain website. A replay will be available for 30 days post-event. Rain focuses on precision oncology, developing therapies like milademetan, a small molecule MDM2 inhibitor, targeting various cancers.
Rain Therapeutics announced promising non-clinical data on its oral MDM2 inhibitor, milademetan (RAIN-32), at the IASLC 2021 World Conference on Lung Cancer. The findings indicate that milademetan treatment effectively targets malignant pleural mesothelioma (MPM), showcasing differential sensitivity based on genetic profiles. Increased p53 protein levels were noted in sensitive cell lines, and significant growth reduction was observed in MPM xenografts. Rain aims to address the unmet medical needs of MPM patients, particularly post anti-PD1 therapy.
Rain Therapeutics Inc. (NASDAQ: RAIN), a late-stage precision oncology firm, is presenting at the IASLC 2021 World Conference on Lung Cancer from September 8-14, 2021. The poster, titled The MDM2/p53 axis is a therapeutic vulnerability in malignant pleural mesothelioma, will be presented by Dr. Lynn Heasley on September 8. Additionally, Avanish Vellanki will participate in a Targeted Oncology Panel at the Citi 16th Annual Biopharma Conference on September 10. Recordings will be available on the Rain website post-event.
Rain Therapeutics (RAIN) has initiated the Phase 3 MANTRA clinical trial for milademetan in patients with dedifferentiated liposarcoma, marking a significant milestone achieved under a year after acquiring the program. The company reported a quarter-end cash position of $164.6 million, ensuring funding through late 2024. Despite a net loss of $8.2 million for Q2 2021, up from $2.6 million in 2020, management remains optimistic about future trials and collaborations aimed at enhancing patient outcomes and anticipate interim results from their upcoming studies.
Rain Therapeutics Inc. (NasdaqGS: RAIN) is set to release its second-quarter financial results on August 10, 2021. The management will host a conference call at 1:30 PM PT to discuss the financial outcomes and business developments. Rain Therapeutics focuses on precision oncology therapies, utilizing a tumor-agnostic strategy to select patients based on genetic profiles, with its leading candidate being milademetan (RAIN-32), an MDM2 inhibitor. Investors and stakeholders can participate in the call via dial-in or a webcast link provided in the announcement.
Rain Therapeutics has announced the commencement of a Phase 3 trial (MANTRA) evaluating milademetan (RAIN-32) in patients with de-differentiated liposarcoma (DD LPS). This pivotal study, which aims to showcase the efficacy of milademetan against the standard treatment, trabectedin, is set to involve approximately 160 patients. Notably, previous studies show that patients have experienced long-term therapy for over 4 years with milademetan, indicating a favorable safety profile. The trial focuses on progression-free survival, aiming to fulfill a significant unmet medical need.
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