--- schema_version: "secwatch.filing_event.v1" accession: "0001193125-23-160744" form_type: "8-K" ticker: null cik: "0001724979" company_name: "Rain Oncology Inc." filed_at: "2023-06-05T23:59:59+00:00" generated_at: "2026-06-14T07:27:32.014386+00:00" event_type: "other_material" sentiment: "negative" materiality_score: 0.75 calibrated_materiality_score: 0.75 confidence: "high" source: SEC EDGAR --- # Rain Oncology cuts 65% workforce, suspends Phase 2/1 trials, extends cash runway ## Summary - Restructuring plan cuts ~65% of employees; expects $2.4M-$2.6M in charges in Q2 2023. - Suspends enrollment in Phase 2 MANTRA-2 basket trial; terminates plans for Phase 1/2 MANTRA-4 combo trial. - Richard Bryce transitions from CMO to advisory role; Robert Doebele named CMO. Joy Bruce becomes principal financial officer. - Year-end 2023 cash guidance $75-$80M; cash runway extended to year-end 2026. - Phase 3 MANTRA milademetan data to be presented at a medical conference in 4Q 2023. ## SEC filing metadata - accession: 0001193125-23-160744 - form_type: 8-K - cik: 0001724979 - company_name: Rain Oncology Inc. - filed_at: 2023-06-05T23:59:59+00:00 - event_type: other_material - sentiment: negative - materiality_score: 0.75 - calibrated_materiality_score: 0.75 - confidence: high - sec_items: 2.05, 5.02, 5.07, 7.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1724979/000119312523160744/0001193125-23-160744-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1724979/000119312523160744/d441631d8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001193125-23-160744 - JSON: https://secwatch.observer/filing/0001193125-23-160744.json - Plain text: https://secwatch.observer/filing/0001193125-23-160744.txt ## Key facts - Executive change Joy Bruce changed role as principal financial and accounting officer at Rain Oncology Inc.. - Action: assumed the role - Role: principal financial and accounting officer source text: Joy Bruce, the Company’s Director of Accounting, assumed the role of the Company’s principal financial and accounting officer, effective as of such date. evidence_url: https://www.sec.gov/Archives/edgar/data/1724979/000119312523160744/0001193125-23-160744-index.htm - Executive change Richard Bryce changed role as Executive Vice President, Chief Medical Officer at Rain Oncology Inc.. - Action: transitioned from role to advisory position - Role: Executive Vice President, Chief Medical Officer source text: the Company and Dr. Richard Bryce agreed that he would transition from his role as the Company’s Executive Vice President, Chief Medical Officer to an advisory position with the Company, effective June 1, 2023. evidence_url: https://www.sec.gov/Archives/edgar/data/1724979/000119312523160744/0001193125-23-160744-index.htm - Executive change Robert Doebele changed role as Chief Medical Officer at Rain Oncology Inc.. - Action: succeeded as Chief Medical Officer - Role: Chief Medical Officer source text: Dr. Robert Doebele, the Company’s Cofounder, President and Chief Scientific Officer, succeeded Dr. Bryce as the Company’s Chief Medical Officer as of such date. evidence_url: https://www.sec.gov/Archives/edgar/data/1724979/000119312523160744/0001193125-23-160744-index.htm - Executive change Nelson Cabatuan changed role as Senior Vice President, Finance and Operations at Rain Oncology Inc.. - Action: transitioned from role to advisory position - Role: Senior Vice President, Finance and Operations source text: the Company and Nelson Cabatuan agreed that he would transition from his role as the Company’s Senior Vice President, Finance and Operations to an advisory position with the Company, effective June 1, 2023. evidence_url: https://www.sec.gov/Archives/edgar/data/1724979/000119312523160744/0001193125-23-160744-index.htm - Restructurings & Charges Rain Oncology Inc. announced a restructuring with charges of approximately $2.4 million to $2.6 million affecting the Company’s current workforce (approximately 65%). - Type: restructuring - Charge: approximately $2.4 million to $2.6 million - Affected area: the Company’s current workforce - Headcount: approximately 65% source text: The Company estimates that it will incur approximately $2.4 million to $2.6 million in charges in connection with the Plan, almost all of which are cash expenditures related to employee transition, severance payments and employee benefits, and less than $0.1 million of which are charges related to non-cash stock-based compensation. evidence_url: https://www.sec.gov/Archives/edgar/data/1724979/000119312523160744/0001193125-23-160744-index.htm - Shareholder Votes Rain Oncology Inc. shareholders approved Election of Class II Director Nominees at the 2023-05-31 meeting. - Proposal: director election - Outcome: passed - Meeting: 2023-05-31 source text: On Wednesday, May 31, 2023, the Company held its 2023 Annual Meeting of Stockholders evidence_url: https://www.sec.gov/Archives/edgar/data/1724979/000119312523160744/0001193125-23-160744-index.htm - Shareholder Votes Rain Oncology Inc. shareholders approved Ratification of Ernst & Young LLP as Independent Auditor at the 2023-05-31 meeting. - Proposal: auditor ratification - Outcome: passed - Meeting: 2023-05-31 source text: Proposal 2. Ratification of Ernst & Young LLP as Independent Auditor 22,115,471 6,387 6,453 0 evidence_url: https://www.sec.gov/Archives/edgar/data/1724979/000119312523160744/0001193125-23-160744-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.