<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0407</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2023-05-22</periodOfReport>

    <issuer>
        <issuerCik>0001724979</issuerCik>
        <issuerName>Rain Oncology Inc.</issuerName>
        <issuerTradingSymbol>RAIN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001465837</rptOwnerCik>
            <rptOwnerName>Boxer Capital, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>12860 EL CAMINO REAL</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 300</rptOwnerStreet2>
            <rptOwnerCity>SAN DIEGO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92130</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isOther>true</isOther>
            <otherText>See remarks.</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001465836</rptOwnerCik>
            <rptOwnerName>Boxer Asset Management Inc.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>12860 EL CAMINO REAL</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 300</rptOwnerStreet2>
            <rptOwnerCity>SAN DIEGO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92130</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isOther>true</isOther>
            <otherText>See remarks</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001015747</rptOwnerCik>
            <rptOwnerName>LEWIS JOSEPH</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O CAY HOUSE</rptOwnerStreet1>
            <rptOwnerStreet2>EP TAYLOR DRIVE N7776, LYFORD CAY</rptOwnerStreet2>
            <rptOwnerCity>NEW PROVIDENCE BAHAMAS</rptOwnerCity>
            <rptOwnerState></rptOwnerState>
            <rptOwnerZipCode></rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isOther>true</isOther>
            <otherText>See remarks.</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001465914</rptOwnerCik>
            <rptOwnerName>Davis Aaron I.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>12860 EL CAMINO REAL, SUITE 300</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN DIEGO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92130</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2023-05-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>995000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.25</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1152212</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.18 to $1.30, inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.</footnote>
        <footnote id="F2">These securities are owned directly by Boxer Capital, LLC (&quot;Boxer Capital&quot;), which may be deemed to be a member of a &quot;group&quot; for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, consisting of (i) Boxer Capital, (ii) Boxer Asset Management Inc. (&quot;Boxer Management&quot;), (iii) Aaron I. Davis, (iv) MVA Investors, LLC, and (v) Joe Lewis (collectively, the &quot;Boxer Group&quot;). Each member of the Boxer Group other than Boxer Capital disclaims beneficial ownership of these securities to the extent it or he does not have a pecuniary interest therein</footnote>
        <footnote id="F3">These securities are owned indirectly by Boxer Management and Joe Lewis, by virtue of their ownership of Boxer Capital.</footnote>
    </footnotes>

    <remarks>Aaron Davis, the CEO of Boxer Capital, LLC, is a director of Rain Oncology Inc.</remarks>

    <ownerSignature>
        <signatureName>/s/ Aaron I. Davis, Chief Executive Officer, Boxer Capital, LLC</signatureName>
        <signatureDate>2023-05-24</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Paul Higgs, Director, Boxer Asset Management Inc.</signatureName>
        <signatureDate>2023-05-24</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Joseph C. Lewis</signatureName>
        <signatureDate>2023-05-24</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Aaron I. Davis</signatureName>
        <signatureDate>2023-05-24</signatureDate>
    </ownerSignature>
</ownershipDocument>
