Rani Therapeutics FY2023 net loss $67.9M; cash $48.5M; positive Phase 1 for RT-111 oral antibody

Rani Therapeutics Holdings, Inc.

Net loss for FY2023 was $67.9M ($63.3M in 2022); cash and equivalents $48.5M (down from $98.5M at year-end 2022).
Positive topline Phase 1 data for RT-111 (oral anti-IL12/23 antibody): high bioavailability, well-tolerated, no serious adverse events.
Strategic restructuring: discontinued RT-101, paused RT-105/110, reduced workforce, cost savings extend cash runway into 2025.
Phase 2 trial of RT-102 (teriparatide for osteoporosis) to start in 2024; RaniPill HC ready for Phase 1 in H2 2024.
Preclinical data showed transenteric delivery of GLP-1 triagonist elicits rapid weight loss; successful oral delivery of Humira via RaniPill HC.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Rani Therapeutics Holdings, Inc. reported financial results for fourth quarter and year ended December 31, 2023.

Period: fourth quarter and year ended December 31, 2023
Result: reported results

Exact text from the filing

On March 20, 2024, 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, 2023.

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Rani Therapeutics Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-034153

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