Rain Therapeutics: Surges on advancing cancer treatment to late-stage trial

Rain Oncology

25/05/2021 17:09

** Shares of clinical-stage precision oncology company
 RAIN.O  up 17% at $20.29 per share - a record high
    ** Co says a late-stage trial evaluating RAIN-32, its
potential treatment for liposarcoma, is expected to commence in
the second-half of 2021  urn:newsml:reuters.com:*:nGNX8N2GkM
    ** Liposarcoma is a rare type of cancer that occurs in fat
cells
    ** Expects full-year 2021 net cash used in operating and
investing activities to be about $50 mln to $60 mln and a
projected year end cash balance of nearly $137 mln $147 mln
    ** Reports Q1 loss per share of $1.93, in its first results
after becoming a publicly listed company last month

 (Reporting by Shashank Nayar in Bengaluru)
 ((Shashank.Nayar@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6182 2256;))