Rani Therapeutics Holdings, Inc. Stock Price, News & Analysis

Rani Therapeutics announced the termination of its previously announced underwritten public offering of Class A common stock, as management assessed the current market conditions as unfavorable. Consequently, no shares will be sold in this offering. The company asserted it has adequate capital to fund operations into mid-2024. The offering was to be conducted under an effective shelf registration statement. Forward-looking statements regarding cash reserves highlight potential risks and uncertainties affecting future results.

Rani Therapeutics Holdings has announced its intention to conduct an underwritten public offering of Class A common stock. The offering may include a 30-day option for underwriters to purchase up to 15% more shares. This action is contingent on market conditions and could affect the stock's performance. BofA Securities, Cantor, and UBS Investment Bank are leading the offering, which is being facilitated under a shelf registration statement effective as of August 10, 2022. The company emphasizes that no securities will be sold in jurisdictions where the offering would be unlawful.

Rani Therapeutics announced positive topline results from its Phase 1 trial of RT-102, a treatment for osteoporosis, demonstrating high oral bioavailability and successful drug delivery. The company completed a debt financing agreement of up to $45 million, ensuring operations are funded into mid-2024. Rani plans to initiate a third Phase 1 clinical trial and expects topline results from the repeat-dose portion of RT-102 by Q4 2022. As of June 30, 2022, cash and equivalents were $97.2 million, while R&D expenses rose significantly year-over-year to $9.5 million.

Rani Therapeutics announced positive topline results from its Phase 1 clinical study of RT-102, an oral capsule with human parathyroid hormone (PTH) analog for osteoporosis treatment. The study demonstrated that RT-102 was well-tolerated, with a 95% drug delivery success rate and a bioavailability of 300-400% greater than subcutaneous injections. The company aims to file an IND for Phase 2 trials by Q3 2023, building on the success of RT-101 and further validating the RaniPill platform.

Rani Therapeutics (RANI) reported its Q1 2022 financial results, highlighting the initiation of a Phase 1 trial for RT-102, aimed at treating osteoporosis. The company unveiled the RaniPill HC, which can deliver more than 20 mg of therapeutic payloads, enhancing its pipeline potential. Rani's cash position stood at $107.8 million, sufficient for operations through 2023. R&D expenses increased to $7.6 million, while general and administrative expenses rose to $6.2 million. The net loss for the quarter was $13.8 million, up from $5.6 million in Q1 2021.

SAN JOSE, Calif., May 3, 2022 (GLOBE NEWSWIRE) -- Rani Therapeutics, a clinical-stage biotherapeutics company, announced that CEO Talat Imran will present at two investment conferences in May. The Bank of America 2022 Healthcare Conference is scheduled for May 10 at 5:20 PM PT, while the H.C. Wainwright Annual Global Life Sciences Conference will take place on May 24 at 10:30 AM PT. Interested participants can access the live webcasts on Rani's Investor Relations page, with replays available for 90 days post-presentation.

Rani Therapeutics Holdings, Inc. (Nasdaq: RANI) has been recognized by Fast Company with the top honor in the Health category of the 2022 World Changing Ideas Awards for its RaniPill™ capsule. This innovative technology aims to replace painful injections for biologic drugs, facilitating oral delivery while maintaining high bioavailability. The capsule, which contains a dissolvable needle, is currently undergoing multiple clinical trials, with the company striving to be a leader in oral biologics across various therapeutic areas.

Rani Therapeutics Holdings (Nasdaq: RANI) announced that CEO Talat Imran will present at the 21st Annual Needham Virtual Healthcare Conference on April 14, 2022, at 12:45 p.m. PT / 3:45 p.m. ET. This event provides an opportunity for investors and interested parties to hear insights directly from Rani's leadership.

Participants can access the live audio webcast through Needham or the Investor Relations section of Rani's website. A replay will be available for 90 days after the event.

Rani Therapeutics has initiated a Phase 1 clinical trial of RT-102, an oral treatment for osteoporosis. The company launched the RaniPill™ High Capacity (HC), enhancing delivery capacity to over 20 mg. Financially, cash reserves rose to $117.5 million in 2021, supporting operations through 2023. R&D expenses surged to $26.5 million due to increased headcount and equity compensation. However, net losses also expanded to $53.1 million. The company anticipates topline Phase 1 data in 2H 2022 and plans further clinical trials.