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Rain Therapeutics tees up $100M IPO to push ex-Daiichi cancer drug into phase 3

Rain Therapeutics catapulted itself toward pivotal development in September when it picked up a cancer drug from Daiichi Sankyo. Now, the California biotech aims to raise up to $100 million in its Wall Street debut, which will fuel a phase 3 study for the asset in liposarcoma, a cancer that occurs in the body’s fat cells, and a phase 2 study in solid tumors.