Rani Therapeutics reports FY2022 net loss $63.3M; cash $98.5M; RT-102 Phase 2 in H2 2023

Rani Therapeutics Holdings, Inc.

Net loss $63.3M for 2022, vs $53.1M in 2021; cash $98.5M, sufficient to mid-2024.
Phase 1 data for RT-102 (osteoporosis) positive; FDA agrees 505(b)(2) pathway; Phase 2 planned H2 2023.
Partnership with Celltrion for RT-111 (ustekinumab biosimilar); exclusive license with right of first negotiation.
Expects to start three Phase 1 studies in 2023 for RT-105, RT-110, RT-111.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Rani Therapeutics Holdings, Inc. reported the fourth quarter and year ended December 31, 2022 results: net income Net loss for the three and twelve months ended December 31, 2022 was $17.3 million and $63.3 million, respectively.

Period: the fourth quarter and year ended December 31, 2022
Net income: Net loss for the three and twelve months ended December 31, 2022 was $17.3 million and $63.3 million, respectively
Result: reported results

Exact text from the filing

On March 22, 2023, Rani Therapeutics Holdings, Inc. (the “Company”) issued a press release providing a corporate update and announcing its financial results for the fourth quarter and year ended December 31, 2022.

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Rani Therapeutics Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-009162

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