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Rain Therapeutics Reports Fourth Quarter and Full Year 2021 Financial Results and Highlights Recent Progress
– Quarter-end cash position of $140.2 million provides runway to complete all ongoing and planned clinical trials of milademetan, including an ample cash
About this update from Rain Enhancement Technologies Holdco, Inc.
[{"type":"text","content":"– Quarter-end cash position of $140.2 million provides runway to complete all ongoing and planned clinical trials of milademetan, including an ample cash cushion for the Phase 3 MANTRA trial in liposarcoma – – Enrollment in both Phase 3 liposarcoma trial (MANTRA) and Phase 2 basket trial (MANTRA-2) are on schedule, all site activations anticipated by the end of the first quarter 2022 – – Rain entered into a clinical supply agreement with Roche for the supply of atezolizumab for a planned Phase 1 trial (MANTRA-4) combination study of milademetan and atezolizumab in patients with CDKN2A loss and p53 wildtype advanced cancers – – Management to host conference call and webcast today at 4:30 PM Eastern Time – NEWARK, Calif., March 03, 2022 (GLOBE NEWSWIRE) -- Rain Therapeutics Inc. (NasdaqGS: RAIN), (Rain), a late-stage company developing precision oncology therapeutics, today reports financial results for the fourth quarter and full year ended December 31, 2021, along with an update on the Company's key developments, business operations and upcoming milestones. “Rain has achieved a number of important clinical milestones for milademetan including commencing two of the four planned trials in MDM2-dependent cancers. Rain dosed the first patient in the third quarter of last year and exceeded year-end 2021 targets for site activations for the pivotal, Phase 3 MANTRA trial in patients with liposarcoma and dosed the first patient in our Phase 2 MANTRA-2 basket trial in genetically selected patients with MDM2 gene amplification. We have also outlined two additional trials to start in the second half of this year, including the MANTRA-3 trial in patients with Merkel cell carcinoma, and our first combination trial MANTRA-4, with Roche's anti-PD-L1 antibody, atezolizumab, in patients with advanced cancers exhibiting loss of the CDKN2A gene,” said Avanish Vellanki, co-founder and chief executive officer of Rain. Mr. Vellanki added, “We believe we have a strong capital position supporting completion of our ongoing and planned clinical trials, including an ample cash cushion for the Phase 3 MANTRA data timelines in liposarcoma. Further, considering the current capital markets picture in the biotech industry, we have taken steps to be even more prudent with capital to preserve the opportunity to generate data for milademetan across a diverse set ...
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