Rani Therapeutics Q2 net loss $16M; positive RT-102 Phase 1 results

Rani Therapeutics Holdings, Inc.

2022-Q2 EPS reported $0.60

Positive Phase 1 topline results for RT-102 (PTH capsule for osteoporosis): high bioavailability, well-tolerated, all endpoints met.
Completed debt financing up to $45M with Avenue Capital Group; $15M funded at closing; cash runway extended into mid-2024.
Cash and equivalents $97.2M at June 30, 2022 vs $117.5M at Dec 31, 2021.
Net loss of $16.0M in Q2 2022 vs $5.5M in Q2 2021; R&D expenses rose to $9.5M.
Near-term milestones: repeat-dose RT-102 results in Q4 2022, additional Phase 1 trial initiation in 2H 2022, pre-IND meeting with FDA.

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