Rain Therapeutics Experimental Cancer Therapy Shows Encouraging Tumor Regression Activity

Rain Therapeutics Inc RAIN announced preliminary data from Phase 2 basket trial evaluating milademetan for MDM2-amplified advanced solid tumors.
"Treatment with milademetan led to tumor regression in patients previously treated with a multitude of therapies across a range of cancers. We look forward to expanding this dataset as the trial continues to enroll," said Avanish Vellanki, co-founder & CEO.
Seventeen patients have been enrolled, 15 of whom have been dosed with milademetan. Ten patients were efficacy-evaluable.
Two unconfirmed partial responses (PRs) were observed with tumor regression of 34% and 30% (pancreatic and lung cancer, respectively).
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Two patients exhibited promising activity with tumor regression of 29% and 27% (biliary tract and breast cancer, respectively), and the patients are continuing with the investigational therapy.
Safety profile to date is preliminarily consistent with prior Phase 1 trial of milademetan
Concurrently, Rain Therapeutics priced a registered offering of 6.86 million shares and 1.72 million non-voting shares at $5.83 per share, with gross proceeds of approximately $50 million.
Price Action: RAIN shares are up 2.92% at $6.00 on the last check Friday.