Rain Therapeutics, Inc. Added to the NASDAQ Biotechnology Index

Rhea-AI Summary

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.

Positive

• Inclusion in NASDAQ Biotechnology Index may increase visibility and attract institutional investment.
• Company's market cap exceeds $200 million, meeting criteria for index inclusion.

Negative

• None.

NEWARK, Calif., Dec. 14, 2021 (GLOBE NEWSWIRE) -- Rain Therapeutics Inc. (NasdaqGS: RAIN), (“Rain”), a late-stage company developing precision oncology therapeutics, today announced it will be added to the NASDAQ Biotechnology Index (NASDAQ: NBI), effective as of market open on Monday, December 20, 2021.

The NBI is made up of NASDAQ-listed companies classified as Biotechnology & Pharmaceuticals by the Industry Classification Benchmark (ICB), designed to track the performance of a set of securities listed on the NASDAQ Stock Market^® (NASDAQ^®), and is widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. To be selected for addition to the NBI, a company must have a minimum market capitalization of $200 million; demonstrate an average daily trading volume of at least 100,000 shares; and must be Nasdaq-listed. The index is modified market capitalization-weighted such that constituents are capped at 8% (for the top 5) and at 4% (for the remaining) at each quarterly index rebalance; the entire index is reviewed and reconstituted annually in December.

For more information about the NASDAQ Biotechnology Index visit www.nasdaq.com.

About Rain Therapeutics Inc.
Rain Therapeutics Inc. is a late-stage precision oncology company developing therapies that target oncogenic drivers for which it is able to genetically select patients it believes will most likely benefit. This approach includes using a tumor-agnostic strategy to select patients based on their tumors’ underlying genetics rather than histology. Rain’s lead product candidate, milademetan, is a small molecule, oral inhibitor of MDM2, which is oncogenic in numerous cancers. In addition to milademetan, Rain is also developing a preclinical program that is focused on inducing synthetic lethality in cancer cells by inhibiting RAD52.

Investor Contact
Bob Yedid
LifeSci Advisors
+1.646.597.6989
bob@lifesciadvisors.com

FAQ

What is Rain Therapeutics’ stock symbol?

Rain Therapeutics’ stock symbol is RAIN.

When will Rain Therapeutics be added to the NASDAQ Biotechnology Index?

Rain Therapeutics will be added to the NASDAQ Biotechnology Index on December 20, 2021.

What criteria did Rain Therapeutics meet for inclusion in the NASDAQ Biotechnology Index?

Rain Therapeutics met the criteria of having a market cap of over $200 million and an average daily trading volume of at least 100,000 shares.

What is the significance of being added to the NASDAQ Biotechnology Index for Rain Therapeutics?

Being added to the NASDAQ Biotechnology Index can increase visibility and potentially attract institutional investors.

What are Rain Therapeutics' main therapeutic focuses?

Rain Therapeutics focuses on precision oncology therapies, particularly targeting oncogenic drivers.