Pathos AI to buy Rain Oncology

18 December 2023

Rain Oncology (Nasdaq: RAIN) is to be acquired by Pathos AI for $1.16 per share, a 17% premium on the former firm’s share price.

Shareholders in Rain will also receive a contingent value right for up to an additional $0.17 per share depending on the company’s final finances.

"Continued interest in further developing milademetan for cancer patients"The deal comes at the end of a difficult year for Rain, including the Phase III trial failure of its lead product candidate, milademetan, an oral, small molecule inhibitor of the MDM2-p53 complex that reactivates p53, in dedifferentiated liposarcoma.

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