NEW
YORK, Sept. 6, 2023 /PRNewswire/ -- The Gross
Law Firm issues the following notice to shareholders of Rain
Oncology Inc..
Shareholders who purchased shares of RAIN during the class
period listed are encouraged to contact the firm regarding possible
lead plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/rain-loss-submission-form/?id=46453&from=4
CLASS PERIOD: July 20, 2021
to May 19, 2023
ALLEGATIONS: According to the filed complaint, on
May 22, 2023, the Company announced
that milademetan failed to meet its primary endpoint of progression
free survival in the MANTRA study. Moreover, the Company announced
adverse event findings that, according to analysts, indicated that
the dosing schedule had not been optimized prior to commencing the
study. In response to the announcement, Rain's stock price
substantially dropped from $9.93 per
share to $1.22 per share, eliminating
approximately $316 million in market
capitalization in one day. The complaint alleges that
defendants made false and/or misleading statements and/or failed to
disclose that: (i) the Company concealed risks inherent in the
design of its Phase 3 MANTRA study particularly with regard to
proceeding directly to Phase 3 from Phase 1; and, (ii) as a result,
the Company's statements about the trial and the likelihood of FDA
approval were materially misleading during the Class Period.
DEADLINE: September 12,
2023 Shareholders should not delay in registering for
this class action. Register your information here:
https://securitiesclasslaw.com/securities/rain-loss-submission-form/?id=46453&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of RAIN during the timeframe
listed above, you will be enrolled in a portfolio monitoring
software to provide you with status updates throughout the
lifecycle of the case. The deadline to seek to be a lead plaintiff
is September 12, 2023. There is no
cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross
Law Firm is committed to ensuring that companies adhere to
responsible business practices and engage in good corporate
citizenship. The firm seeks recovery on behalf of investors who
incurred losses when false and/or misleading statements or the
omission of material information by a company lead to artificial
inflation of the company's stock. Attorney advertising. Prior
results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm