NEW
YORK, Aug. 29, 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=45076&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=45076&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
View original
content:https://www.prnewswire.com/news-releases/shareholder-alert-the-gross-law-firm-notifies-shareholders-of-rain-oncology-inc-of-a-class-action-lawsuit-and-a-lead-plaintiff-deadline-of-september-12-2023--nasdaq-rain-301911868.html
SOURCE The Gross Law Firm