Rani Therapeutics Q1 net loss $14.8M; cash $39.6M; RT-111 Phase 1 positive

Rani Therapeutics Holdings, Inc.

2024-Q1 EPS reported -$0.29

Cash, cash equivalents and marketable securities: $39.6M at March 31, 2024 (down from $48.5M year-end 2023).
Net loss $14.8M for Q1 2024 vs $16.8M same quarter 2023; includes $3.9M stock-based comp.
R&D expense $7.6M (down $2.1M YoY) on lower compensation and third-party costs.
RT-111 (oral anti-IL-12/23 antibody) Phase 1 achieved high bioavailability, well-tolerated, no serious AEs.
Expects Phase 2 trial for RT-102 (osteoporosis) in 2024; RaniPill HC Phase 1 readiness H2 2024.

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, 2024 results: net income Net loss for the three months ended March 31, 2024 was $14.8 million.

Period: the three months ended March 31, 2024
Net income: Net loss for the three months ended March 31, 2024 was $14.8 million
Result: reported results

Exact text from the filing

Rani Therapeutics Holdings, Inc. (the “Company”) issued a press release providing a corporate update and announcing its financial results for the three months ended March 31, 2024.

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Source: SEC EDGAR

accession 0000950170-24-053527

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