Rani Therapeutics Q1 net loss $16.8M; Celltrion partnership and FDA feedback on RT-102

Rani Therapeutics Holdings, Inc.

2023-Q1 EPS reported $0.33

Net loss of $16.8M for Q1 2023, up from $13.8M in Q1 2022; non-cash stock compensation $4.0M.
Cash and equivalents $86.8M as of Mar 31, 2023; expected to fund operations to mid-2024.
Announced partnership with Celltrion to develop RT-111, an oral ustekinumab biosimilar.
FDA preliminary feedback supports 505(b)(2) pathway for RT-102 (osteoporosis); Phase 2 expected 2H 2023.
Three Phase 1 studies expected in 2023: RT-111, RT-105 (adalimumab biosimilar), RT-110 (parathyroid hormone).

item 2.02 item 9.01

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 three months ended March 31, 2023 results: net income $16.8 million.

Period: the three months ended March 31, 2023
Net income: $16.8 million
Result: reported results

Exact text from the filing

Net loss for the three months ended March 31, 2023 was $16.8 million, compared to $13.8 million for the same period in 2022, including non-cash charges primarily attributable to stock-based compensation expense of $4.0 million for the three months ended March 31, 2023, compared to $3.0 million for the same period in 2022.

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Rani Therapeutics Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-020539

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