RAIN Rain Therapeutics Inc.

14.58
0  0%
Previous Close 14.58
Open 14.2
52 Week Low 11.57
52 Week High 23.9
Market Cap $385,885,157
Shares 26,466,746
Float 13,200,239
Enterprise Value $236,246,156
Volume 42,836
Av. Daily Volume 62,354
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Upcoming Catalysts

Drug Stage Catalyst Date
Milademetan (RAIN-32) - (MANTRA-2 basket trial)
MDM2-amplified advanced solid tumors
Phase 2
Phase 2
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Milademetan (RAIN-32)
Intimal sarcoma
Phase 2
Phase 2
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Milademetan (RAIN-32) - (MANTRA)
Liposarcoma
Phase 3
Phase 3
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Drug Pipeline

Drug Stage Notes
Milademetan - MANTRA-3
Merkel cell carcinoma (MCC)
Phase 2
Phase 2
Phase 2 planned to initiate mid-2022.

Latest News

  1. NEWARK, Calif., Nov. 22, 2021 (GLOBE NEWSWIRE) -- Rain Therapeutics Inc. (NASDAQ:RAIN), ("Rain"), a late-stage company developing precision oncology therapeutics, today announced that Avanish Vellanki, co-founder, chairman and chief executive officer of Rain, will participate in a fireside chat at the Piper Sandler 33rd Annual Healthcare Conference being held virtually November 29-December 2, 2021 and at the Evercore ISI 4th Annual Health CONx Virtual Conference being held virtually November 30-December 2, 2021.

    Additional details can be found below:

    Conference: Piper Sandler 33rd Annual Healthcare Conference
    Date and Time: Prerecorded presentation will be available in advance beginning today, November 22, 2021, at 10:00 a.m. ET
    Location:

    NEWARK, Calif., Nov. 22, 2021 (GLOBE NEWSWIRE) -- Rain Therapeutics Inc. (NASDAQ:RAIN), ("Rain"), a late-stage company developing precision oncology therapeutics, today announced that Avanish Vellanki, co-founder, chairman and chief executive officer of Rain, will participate in a fireside chat at the Piper Sandler 33rd Annual Healthcare Conference being held virtually November 29-December 2, 2021 and at the Evercore ISI 4th Annual Health CONx Virtual Conference being held virtually November 30-December 2, 2021.

    Additional details can be found below:

    Conference: Piper Sandler 33rd Annual Healthcare Conference

    Date and Time: Prerecorded presentation will be available in advance beginning today, November 22, 2021, at 10:00 a.m. ET

    Location: Webcast Link - or at the company's website (click here)

    Conference: Evercore ISI 4th Annual Health CONx Virtual Conference

    Date: Thursday, December 2, 2021

    Time: 3:00 p.m. ET

    Location: Webcast Link - or at the company's website (click here)

    Replay of the presentations will be available by visiting the "Events & Presentations" section of the Rain website after the conclusion of the presentation and will be archived on the Rain website for 30 days.

    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.

    Media Contact

    Jordyn Temperato

    LifeSci Communications

    +1.646.876.5196

    Investor Contact:

    Bob Yedid

    LifeSci Advisors

    +1.646.597.6989



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  2. NEWARK, Calif., Nov. 19, 2021 (GLOBE NEWSWIRE) -- Rain Therapeutics Inc. (NASDAQ:RAIN), ("Rain"), a late-stage company developing precision oncology therapeutics, today announced that the first patient has been dosed in the multicenter, single arm, open-label, Phase 2 basket trial evaluating milademetan, an oral mouse double minute 2 (MDM2) inhibitor, for the treatment of MDM2-amplified advanced solid tumors.

    "The Rain team has worked extraordinarily hard to now commence our second clinical trial for milademetan," said Avanish Vellanki, chief executive officer of Rain Therapeutics. "The MANTRA-2 study reflects our precision oncology focus to base our development strategy on the underlying biological drivers in cancer, now across a tumor-agnostic…

    NEWARK, Calif., Nov. 19, 2021 (GLOBE NEWSWIRE) -- Rain Therapeutics Inc. (NASDAQ:RAIN), ("Rain"), a late-stage company developing precision oncology therapeutics, today announced that the first patient has been dosed in the multicenter, single arm, open-label, Phase 2 basket trial evaluating milademetan, an oral mouse double minute 2 (MDM2) inhibitor, for the treatment of MDM2-amplified advanced solid tumors.

    "The Rain team has worked extraordinarily hard to now commence our second clinical trial for milademetan," said Avanish Vellanki, chief executive officer of Rain Therapeutics. "The MANTRA-2 study reflects our precision oncology focus to base our development strategy on the underlying biological drivers in cancer, now across a tumor-agnostic clinical trial. We have also identified a level of gene amplification of MDM2 that we believe will select for patients most likely to benefit."

    Richard Bryce, MBChB, chief medical officer of Rain Therapeutics continued, "the opening of our Phase 2 basket trial is a significant step forward in leveraging the safety profile of milademetan for patients with advanced tumors that exhibit wild-type p53 and amplified MDM2 who do not respond, or stop responding, to standard-of-care therapy."

    The MANTRA-2 trial is designed to evaluate the safety and efficacy of milademetan in patients with advanced or metastatic solid tumors refractory or intolerant to standard-of-care therapy and that exhibit wild-type p53 and a prespecified minimum MDM2 gene copy number. Approximately 65 patients are anticipated to be enrolled to receive milademetan. The primary endpoint of the trial is objective response rate as measured by RECIST criteria. Secondary endpoints include duration of response, disease control rate progression-free survival by investigator assessment, overall survival and, and growth modulation index. An interim analysis from MANTRA-2 is anticipated in the second half of 2022.

    About Milademetan

    Milademetan is a small molecule, oral inhibitor of MDM2, which is oncogenic in numerous cancers. Milademetan has already demonstrated antitumor activity in an MDM2-amplified subtype of liposarcoma (LPS) and other solid tumors in a Phase 1 clinical trial, supporting a rationally-designed dosing schedule to mitigate safety concerns and widen the therapeutic window of MDM2 inhibition. Milademetan is being evaluated in an ongoing Phase 3 clinical trial in patients with LPS (MANTRA), as well as a Phase 2 tumor-agnostic basket trial in certain solid tumors (MANTRA-2). Rain Therapeutics also anticipates commencing a Phase 2 clinical trial of milademetan (MANTRA-3), for the treatment of patients with Merkel cell carcinoma who are polyoma virus-positive and refractory to immune checkpoint inhibition (ICI), in mid-2022. Milademetan has received U.S. Food and Drug Administration Orphan Drug Designation for patients with LPS.

    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.

    Forward Looking Statements

    Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, Rain's ongoing and planned studies for milademetan. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "plans," "will," "anticipates," "goal," "potential," "expects" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Rain's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with Rain's business in general and limited operating history, difficulty enrolling patients in our clinical trials, Rain's reliance on third parties to conduct and support its preclinical studies and clinical trials, the results of Rain's clinical trials may not satisfy the requirements of the FDA or other comparable foreign regulatory authorities, and the other risks described in Rain's filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. Rain undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

    Media Contact

    Jordyn Temperato

    LifeSci Communications

    +1.646.876.5196

    Investor Contact:

    Bob Yedid

    LifeSci Advisors

    +1.646.597.6989

    esciadvisors.com



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  3. New Phase 2 clinical trial planned for milademetan in Merkel cell carcinoma (MCC), the MANTRA-3 trial, to start in mid-2022

    Quarter-end cash position of $150.1 million provides runway to advance research and development (R&D) pipeline and complete all three planned clinical trials of milademetan

    Management to host conference call and webcast today at 4:30PM Eastern Time

    NEWARK, Calif., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Rain Therapeutics Inc. (NASDAQ:RAIN), (Rain), a late-stage company developing precision oncology therapeutics, today reports financial results for the third quarter and nine months ended September 30, 2021, along with an update on the company's key developments, business operations and upcoming milestones.

    "Rain has had…

    New Phase 2 clinical trial planned for milademetan in Merkel cell carcinoma (MCC), the MANTRA-3 trial, to start in mid-2022

    Quarter-end cash position of $150.1 million provides runway to advance research and development (R&D) pipeline and complete all three planned clinical trials of milademetan

    Management to host conference call and webcast today at 4:30PM Eastern Time

    NEWARK, Calif., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Rain Therapeutics Inc. (NASDAQ:RAIN), (Rain), a late-stage company developing precision oncology therapeutics, today reports financial results for the third quarter and nine months ended September 30, 2021, along with an update on the company's key developments, business operations and upcoming milestones.

    "Rain has had a number of important recent accomplishments including data presentations at various medical conferences and announcement of plans to progress our lead candidate, milademetan, into a Phase 2 trial for patients with Merkel cell carcinoma," said Avanish Vellanki, co-founder and chief executive officer of Rain. "We continue to view milademetan as having a differentiated therapeutic index and will remain focused on strategies to further enhance its value for patients with MDM2-dependent cancers."

    Key Developments and Operational Updates

    • Phase 2 Basket Trial (MANTRA-2) of Milademetan for MDM2-Amplified Advanced Solid Tumors
      • Rain anticipates enrolling the first patient in its multicenter, open-label Phase 2 basket trial (MANTRA-2) this quarter, evaluating milademetan, an oral mouse double minute 2 (MDM2) inhibitor for the treatment of MDM2-amplified advanced solid tumors.
    • Non-Clinical Data on Milademetan Presented at IASLC 2021 (Sept. 8-14, 2021) and AACR-NCI-EORTC ("Triple Cancer Conference") 2021 (Oct. 7-10, 2021)
      • Rain, in collaboration with certain research partners, presented non-clinical data on milademetan in MDM2-amplified tumors, Merkel cell carcinoma, GATA3-mutant ER+ breast cancer, and mesothelioma models.
    • Rain Highlights Plans for Phase 2 Trial for Milademetan in Merkel Cell Carcinoma (MANTRA-3)
      • On the strength of recent non-clinical data from the Dana-Farber Cancer Institute presented at the Triple Cancer Conference, Rain is now prioritizing a Phase 2 clinical trial of milademetan as monotherapy in MCC patients failing first-line checkpoint inhibitors, with a trial start anticipated in mid-2022. The Phase 2 MCC clinical trial will replace the previously planned Phase 2 clinical trial of milademetan in intimal sarcoma.
    • Research and Development (R&D) Day
      • Rain hosted a R&D Day webinar on November 9, 2021 which featured several key opinion leaders in oncology, along with members of Rain's management team, who discussed the Company's R&D program, as well as select clinical and preclinical data. A replay of the event is archived on the Company's corporate website here.

    Anticipated Near-term Milestones

    • Milademetan MDM2-Amplified Phase 2 Basket Trial (MANTRA-2)
      • Phase 2 trial anticipated to commence enrollment this quarter
      • Interim data anticipated in the second half of 2022
    • Milademetan MCC Phase 2 Trial (MANTRA-3)
      • Phase 2 trial anticipated to commence in mid-2022
    • Milademetan Dedifferentiated Liposarcoma Phase 3 Trial (MANTRA)
      • Data anticipated in 2023
    • RAD52 Research Program
      • Lead candidate selection anticipated in 2022

    Third Quarter Financial Results

    For the three and nine months ended September 30, 2021, Rain reported a net loss of $18.4 million and $33.4 million, respectively, as compared to a net loss of $10.4 million and $15.6 million for the same periods in 2020, respectively. Net loss per share for the three and nine months ended September 30, 2021, was $0.70 and $1.96, respectively, as compared to a net loss per share of $3.05 and $4.73 for the same periods in 2020, respectively.

    R&D expenses were $15.3 million and $26.1 million for the three and nine months ended September 30, 2021, respectively, as compared to $7.9 million and $11.2 million for the same periods in 2020, respectively. The increases were primarily driven by development milestone fees to Daiichi Sankyo Co., Ltd, R&D costs for Rain's lead candidate, milademetan, mainly for its on-going Phase 3 pivotal trial in dedifferentiated liposarcoma, as well as personnel costs. Non-cash stock-based compensation expenses included in R&D expenses were approximately $0.7 million and $1.4 million in the three and nine months ended September 30, 2021, respectively, as compared to $0.2 million and $0.4 million in the same periods in 2020, respectively.

    General and administrative (G&A) expenses were $3.2 million and $7.3 million for the three and nine months ended September 30, 2021, respectively, as compared to $0.6 million and $2.3 million for the same periods in 2020, respectively. The increases were primarily due to increases in various third-party G&A costs, including legal costs, outside consulting fees and accounting and audit fees associated with maintaining compliance with exchange listing and SEC requirements as a public company, as well as personnel costs. Non-cash stock-based compensation expense included in G&A expenses were approximately $0.1 million and $0.4 million for the three and nine months ended September 30, 2021, respectively as compared to $0.1 million and $0.2 million for the same periods in 2020, respectively.

    Total non-cash stock-based compensation expenses were approximately $0.8 million and $1.8 million in the three and nine months ended September 30, 2021, respectively, as compared to $0.3 million and $0.6 million for the same periods in 2020, respectively.

    As of September 30, 2021, Rain had $150.1 million in cash, cash equivalents and short-term investments. Rain expects that its quarter-end cash position will provide runway to continue advancing its R&D pipeline and complete all three planned clinical trials of milademetan.

    As of September 30, 2021, Rain had approximately 26.5 million shares of common stock outstanding.

    The Company continues to expect its full year 2021 net cash used in operating activities to be approximately $50 million to $60 million and a projected year end cash balance of approximately $137 million to $147 million in cash, cash equivalents and short-term investments.

    Third Quarter 2021 Results Conference Call and Webcast Details

    The management of Rain Therapeutics will host a conference call and webcast for the investment community today, November 10, 2021, at 1:30 p.m. PT (4:30 p.m. ET). The conference call can be accessed by dialing 1 (833) 562-0127 (U.S. Toll Free) / 1 (661) 567-1105 (U.S. Toll). The passcode for the conference call is 1985710. A live webcast may be accessed by visiting the "Investors" section of the Rain Therapeutics' website at www.rainthera.com. The call will be recorded and available for replay on the Company's website for approximately 30 days after the call.

    About Milademetan

    Milademetan is a small molecule, oral inhibitor of MDM2, which is oncogenic in numerous cancers. Milademetan has already demonstrated meaningful antitumor activity in an MDM2-amplified subtype of liposarcoma (LPS) and other solid tumors in a Phase 1 clinical trial, validating a rationally-designed dosing schedule to mitigate safety concerns and widen the therapeutic window of MDM2 inhibition. Milademetan is being evaluated in an ongoing Phase 3 clinical trial in patients with LPS (MANTRA) with a planned Phase 2 tumor-agnostic basket trial in certain solid tumors (MANTRA-2) anticipated to start in the fourth quarter of 2021. Rain Therapeutics also anticipates commencing a Phase 2 clinical trial of milademetan (MANTRA-3), for the treatment of patients with Merkel cell carcinoma refractory to immune checkpoint inhibition (ICI), in mid-2022. Milademetan has received U.S. Food and Drug Administration Orphan Drug Designation for patients with LPS.

    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.

    Forward Looking Statements

    Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, the results, conduct, progress and timing of Rain's ongoing and planned trials for milademetan, the timing for data for Rain's trials for milademetan, the potential for milademetan as a MDM2 inhibitor program and as a monotherapy for MCC, the timing for selection of a lead candidate for RAD52, the adequacy of Rain's capital resources and the expected net cash used in operation activities and year end cash balance for full year 2021. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "plans," "will," "anticipates," "goal," "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Rain's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with Rain's business in general, our substantial dependence on the success of our lead product candidate, lack of success in our clinical trials, difficulties in enrolling patients, competition from competing products, the impact of the COVID-19 pandemic, and the other risks and uncertainties described in Rain's Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 and subsequent filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. Rain undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

    Media Contact:

    Jordyn Temperato

    LifeSci Communications

    +1.646.876.5196

    Investor Contact:

    Bob Yedid

    LifeSci Advisors

    +1.646.597.6989

     



    RAIN THERAPEUTICS INC.
    CONDENSED STATEMENTS OF OPERATIONS
    (in thousands, except share and per share amounts)
           
           
      Three Months Ended September 30, Nine Months Ended September 30,
      20212020 20212020
      (unaudited) (unaudited)
           
    Operating expenses:     
     Research and development 15,284  7,893   26,101  11,195 
     General and administrative 3,154  591   7,334  2,311 
     Total costs and expenses 18,438  8,484   33,435  13,506 
    Loss from operations (18,438) (8,484)  (33,435) (13,506)
    Other income (expense)     
     Interest income 11     25  23 
     Interest expense, related party   (71)    (135)
     Change in fair value of convertible promissory notes, related party   (1,891)    (2,024)
     Other income 1  -   1  2 
    Total other income (expense), net 12  (1,962)  26  (2,134)
    Net loss$(18,426)$(10,446) $(33,409)$(15,640)
    Other comprehensive income:     
     Unrealized gain on investments$5    $5   
    Comprehensive loss$(18,421)$(10,446) $(33,404)$(15,640)
           
    Net loss per share, basic and diluted$(0.70)$(3.05) $(1.96)$(4.73)
    Weighted-average shares used in computing net loss per share,     
     basic and diluted 26,466,746  3,422,458   17,025,032  3,307,932 
           
           
     SUMMARY BALANCE SHEET DATA   
     (in thousands)   
           
      September 30December 31,   
      20212020 (1)   
      (unaudited)    
     Cash, cash equivalents and short-term investments$150,081 $58,863    
     Total assets 158,531  61,080    
     Stockholders' equity (deficit) (147,275) (37,417)   
           
    (1)Derived from audited financial statements     
           


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  4. The Merkel cell trial will be prioritized over the previously planned Phase 2 trial in patients with intimal sarcoma, and will evaluate milademetan in patients with IO-refractory disease

    Rain to host first annual research and development (R&D) day at 11am EST today

    NEWARK, Calif., Nov. 09, 2021 (GLOBE NEWSWIRE) -- Rain Therapeutics Inc. (NASDAQ:RAIN), (Rain), a late-stage company developing precision oncology therapeutics, today announced its plan to commence a Phase 2 clinical trial, named MANTRA-3, evaluating the efficacy of milademetan, an oral mouse double minute 2 (MDM2) inhibitor, as a monotherapy for the treatment of patients with Merkel cell carcinoma (MCC) refractory to immune checkpoint inhibition (ICI) in mid-2022.

    "We are very…

    The Merkel cell trial will be prioritized over the previously planned Phase 2 trial in patients with intimal sarcoma, and will evaluate milademetan in patients with IO-refractory disease

    Rain to host first annual research and development (R&D) day at 11am EST today

    NEWARK, Calif., Nov. 09, 2021 (GLOBE NEWSWIRE) -- Rain Therapeutics Inc. (NASDAQ:RAIN), (Rain), a late-stage company developing precision oncology therapeutics, today announced its plan to commence a Phase 2 clinical trial, named MANTRA-3, evaluating the efficacy of milademetan, an oral mouse double minute 2 (MDM2) inhibitor, as a monotherapy for the treatment of patients with Merkel cell carcinoma (MCC) refractory to immune checkpoint inhibition (ICI) in mid-2022.

    "We are very excited about the recent preclinical data generated for milademetan in Merkel cell carcinoma, and believe the data warrant moving the program into a clinical study," said Avanish Vellanki, co-founder and chief executive officer of Rain. "We hope to address the immense unmet medical need for patients after relapsing on first-line checkpoint inhibitors."

    Recent data presentations at the 2021 AACR-NCI-EORTC Virtual International Conference on Molecular Targets and Cancer Therapeutics demonstrated potent in vitro and in vivo activity of milademetan in several MCC models.

    Rain will prioritize its financial resources towards a Phase 2 clinical trial of milademetan in MCC and replace the previously planned Phase 2 clinical trial of milademetan in intimal sarcoma.

    The MANTRA-3 trial is designed to evaluate the efficacy of milademetan as a monotherapy in patients with MCC that have progressed on immune checkpoint inhibitors. Approximately 30 patients are expected to be enrolled to receive milademetan. The primary endpoint of the trial is objective response rate (ORR) as measured by RECIST criteria. Secondary endpoints include duration of response, disease control rate, progression free survival by investigator assessment, growth modulation index, overall survival and safety.

    R&D Day Webinar

    Rain will host its first annual R&D Day at 11am EST today, November 9, 2021 which will feature presentations from prominent key opinion leaders (KOLs) in oncology to discuss cancer populations where tumors may rely on MDM2-mediated p53 loss. Interested parties can access and register for the webinar here. A replay of the event will also be archived on the Company's corporate website here.

    About Merkel Cell Carcinoma

    Merkel cell carcinoma is a rare, aggressive type of skin cancer that frequently travels to other parts of the body. An aging population is driving increases in the number of new MCC cases and the incidence of MCC is predicted to reach >3,000 cases in 2025 in the United States alone. Immune checkpoint inhibitors are the approved first line strategy for patients with relapsed or metastatic MCC, but many patients do not respond or stop responding to these therapies.

    About Milademetan

    Milademetan is a small molecule, oral inhibitor of MDM2, which is oncogenic in numerous cancers. Milademetan has already demonstrated meaningful antitumor activity in an MDM2-amplified subtype of liposarcoma (LPS) and other solid tumors in a Phase 1 clinical trial, validating a rationally-designed dosing schedule to mitigate safety concerns and widen the therapeutic window of MDM2 inhibition. Milademetan is being evaluated in an ongoing Phase 3 clinical trial in patients with LPS (MANTRA) with a planned Phase 2 tumor-agnostic basket trial in certain solid tumors (MANTRA-2) anticipated to start in the fourth quarter of 2021. Rain Therapeutics also anticipates commencing a Phase 2 clinical trial of milademetan (MANTRA-3), for the treatment of patients with Merkel cell carcinoma refractory to immune checkpoint inhibition (ICI), in mid-2022. Milademetan has received U.S. Food and Drug Administration Orphan Drug Designation for patients with LPS.

    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.

    Forward Looking Statements

    Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, Rain's ongoing and planned studies for milademetan, including the trial design for MANTRA-3, and the potential for milademetan. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "plans," "will", "anticipates," "goal," "potential," "expects" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Rain's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with Rain's business in general and limited operating history, difficulty enrolling patients in our clinical trials given the relatively small patient populations, Rain's reliance on third parties to conduct and support its preclinical studies and clinical trials, and the other risks described in Rain's Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 and filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. Rain undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

    Media Contact

    Jordyn Temperato

    LifeSci Communications

    +1.646.876.5196

    Investor Contact:

    Bob Yedid

    LifeSci Advisors

    +1.646.597.6989

     



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  5. NEWARK, Calif., Nov. 03, 2021 (GLOBE NEWSWIRE) -- Rain Therapeutics Inc. (NASDAQ:RAIN), ("Rain"), a late-stage company developing precision oncology therapeutics, today announced it will report financial results for the third quarter that ended September 30, 2021 and highlights of recent progress, on Wednesday, November 10, 2021. On that day, management will host a conference call and webcast at 1:30 p.m. PT (4:30 p.m. ET) to discuss the Company's business and financial results.

    Conference Call and Webcast Details:
    Date: November 10, 2021
    Time: 1:30 p.m. PT (4:30 p.m. ET)
    Dial In Numbers: 1 (833) 562-0127 (U.S. Toll Free) / 1 (661) 567-1105 (U.S. Toll)
    Passcode: 1985710
    Webcast Link: https://edge.media-server.com/mmc/p/6qek8226

    The call will…

    NEWARK, Calif., Nov. 03, 2021 (GLOBE NEWSWIRE) -- Rain Therapeutics Inc. (NASDAQ:RAIN), ("Rain"), a late-stage company developing precision oncology therapeutics, today announced it will report financial results for the third quarter that ended September 30, 2021 and highlights of recent progress, on Wednesday, November 10, 2021. On that day, management will host a conference call and webcast at 1:30 p.m. PT (4:30 p.m. ET) to discuss the Company's business and financial results.

    Conference Call and Webcast Details:

    Date: November 10, 2021

    Time: 1:30 p.m. PT (4:30 p.m. ET)

    Dial In Numbers: 1 (833) 562-0127 (U.S. Toll Free) / 1 (661) 567-1105 (U.S. Toll)

    Passcode: 1985710

    Webcast Link: https://edge.media-server.com/mmc/p/6qek8226

    The call will be recorded and available for replay on the Company's website for approximately 30 days after the call.

    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 (RAIN-32), 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.

    Media Contact:

    Jordyn Temperato

    LifeSci Communications

    +1.646.876.5196



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