Rain Oncology Provides Company Update And Outlines Strategic Priorities Of Milademetan Clinical Programs; Workforce Reduction Of ~65% Of The Company's Employees; With A Transition Of Chief Medical Officer Responsibilities

Benzinga ·  05/30 20:32

– Company plans to suspend enrollment in the ongoing milademetan Phase 2 MANTRA-2 basket trial and terminate plans for its Phase 1/2 MANTRA-4 combination trial –– Evaluation of outcomes from the MANTRA Phase 3 milademetan trial in dedifferentiated liposarcoma (DD LPS) are ongoing with data and findings to be presented at a medical conference in 4Q23 –– Company continuing to evaluate opportunities for expansion of its pipeline across precision oncology strategies –– Overall workforce reduction of approximately 65% of the Company's employees; with a transition of Chief Medical Officer (CMO) responsibilities –– Year-end 2023 cash guidance of $75-80mm, with cash runway to year-end 2026 –NEWARK, Calif., May 30, 2023 (GLOBE NEWSWIRE) --

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