Rain Oncology is latest troubled biotech to receive acquisition offer from Concentra

Five months after its acquisition of Atea Pharmaceuticals fell through, Concentra Biosciences has set its sights on another struggling biotech: Rain Oncology.

Rain has had a rough time of it recently, with the company laying off 65% of its workforce at the end of May in the wake of the failure of its lead asset milademetan in a phase 3 trial for liposarcoma. Rain also said it would halt other trials of the MDM2 inhibitor and explore options that could “enhance” its pipeline through a precision oncology acquisition.