GlobeNewswire Inc | Dec 14, 2021 08:00AM EST

December 14, 2021

NEWARK, Calif., Dec. 14, 2021 (GLOBE NEWSWIRE) -- Rain Therapeutics Inc. (NasdaqGS: RAIN), (Rain), a late-stage company developing precision oncology therapeutics, today announced it will be added to the NASDAQ Biotechnology Index (NASDAQ: NBI), effective as of market open on Monday, December 20, 2021.

The NBI is made up of NASDAQ-listed companies classified as Biotechnology & Pharmaceuticals by the Industry Classification Benchmark (ICB), designed to track the performance of a set of securities listed on the NASDAQ Stock Market (NASDAQ), and is widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. To be selected for addition to the NBI, a company must have a minimum market capitalization of $200 million; demonstrate an average daily trading volume of at least 100,000 shares; and must be Nasdaq-listed. The index is modified market capitalization-weighted such that constituents are capped at 8% (for the top 5) and at 4% (for the remaining) at each quarterly index rebalance; the entire index is reviewed and reconstituted annually in December.

For more information about the NASDAQ Biotechnology Index visit www.nasdaq.com.

About Rain Therapeutics Inc.Rain Therapeutics Inc. is a late-stage precision oncology company developing therapies that target oncogenic drivers for which it is able to genetically select patients it believes will most likely benefit. This approach includes using a tumor-agnostic strategy to select patients based on their tumors underlying genetics rather than histology. Rains lead product candidate, milademetan, is a small molecule, oral inhibitor of MDM2, which is oncogenic in numerous cancers. In addition to milademetan, Rain is also developing a preclinical program that is focused on inducing synthetic lethality in cancer cells by inhibiting RAD52.

Investor ContactBob YedidLifeSci Advisors+1.646.597.6989bob@lifesciadvisors.com