Rani Therapeutics Q1 net loss $12.7M, cash $15.9M; RT-114 Phase 1 mid-2025

Rani Therapeutics Holdings, Inc.

2025-Q1 EPS reported -$0.22 revenue$172,000

Net loss was $12.7M for Q1 2025 ($14.8M in Q1 2024); cash, equivalents and marketable securities fell to $15.9M from $27.6M at year-end.
Preclinical data show RT-114 (oral bispecific GLP-1/GLP-2 agonist) bioequivalent to subcutaneous PG-102 with 111% relative bioavailability.
Preclinical data also demonstrate oral semaglutide via RaniPill (RT-116) comparable to subcutaneous in bioavailability, PK, and weight loss.
Phase 1 clinical trial for RT-114 treating obesity expected to begin mid-2025.
R&D expenses decreased to $6.6M and G&A to $5.6M; contract revenue was $0.2M from evaluation services.

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