Rain Enhancement Technologies Holdco Inc (RAIN) Earnings
RAIN has beaten EPS estimates in 4 of its last 6 reported quarters (average surprise +25.1% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 15, 2026 | — | $-0.24 | — | $10500 | — |
| Nov 13, 2025 | — | $-0.29 | — | — | — |
| Aug 14, 2025 | — | $-0.13 | — | — | — |
| May 15, 2025 | — | $-0.20 | — | — | — |
| Mar 13, 2025 | — | $-0.60 | — | — | — |
| Nov 8, 2024 | — | $-0.44 | — | — | — |
| Mar 14, 2024 | $-0.11 | $-0.01 | +93.4% | — | — |
| Nov 9, 2023 | $-0.27 | $-0.19 | +29.6% | — | — |
| Aug 10, 2023 | $-0.49 | $-0.61 | -24.5% | — | — |
| May 11, 2023 | $-0.57 | $-0.56 | +1.8% | — | — |
| Mar 9, 2023 | $-0.61 | $-0.70 | -14.8% | — | — |
| Nov 10, 2022 | $-0.69 | $-0.68 | +1.4% | — | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q2 FY2023 · August 10, 2023
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Rain reported that the Phase 3 global registrational trial for milademetan in dedifferentiated liposarcoma did not meet the primary endpoint. - Suspended enrollment of the MANTRA-2 study and began closing it down. - Plan to present final data from the MANTRA Phase 3 study and updated data from the MANTRA-2 Phase 2 study in Q4 2023. - Implemented cost-saving measures including workforce reduction to moderate cash burn. - Corporate development team reviewing opportunities to license or acquire clinical stage programs and technologies across small molecule and large molecule approaches.
Guidance
- Rain anticipates quarter-end cash position will provide runway into year-end 2026 in absence of corporate transaction and partner financing. - Significant reduction in cash burn expected in Q3 and beyond.
Segment performance
Rain Oncology reported a net loss of $22.1 million for the three months ended June 30, 2023, compared to a net loss of $17.6 million in the same period in 2022. General and administrative expenses were $5.4 million for Q2 2023 vs. $3.5 million in Q2 2022. Restructuring charges of $2.8 million were recorded in Q2 2023. As of June 30, 2023, Rain had $86.3 million in cash, cash equivalents, and short-term investments.
Analyst Q&A
Q: Potential new opportunities and modality interest?
A: Avanish Vellanki said they're opportunistic across precision oncology strategies, both small molecule and large molecule.
Q: Future of milademetan and RAD52 program?
A: Avanish Vellanki said no plans for milademetan currently and RAD52 program is not being moved forward.
Q: Cash burn guidance and SG&A/R&D?
A: Nelson Cabatuan said cash burn in Q3 onwards will be significantly lower than prior quarters.
Q: Reasons for milademetan underperformance?
A: Robert Doebele said to refer to upcoming Q4 presentations.
Q: Sweet spot for licensing deals?
A: Avanish Vellanki said looking for clinical stages to leverage their clinical organization.
Q: Weighing new asset vs corporate options?
A: Avanish Vellanki said looking at attractiveness and actionability of opportunities.
Q: Technology platform and licensing limits?
A: Avanish Vellanki said will provide details when appropriate.