RANI
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Earnings documents stored for RANI.
Investor releaseQuarter not tagged2026-05-16Rani Therapeutics Reports First Quarter 2026 Financial Results; Provides Corporate Update; Announces CFO Transition
GlobeNewswire
Rani Therapeutics Reports First Quarter 2026 Financial Results; Provides Corporate Update; Announces CFO Transition
- Continued advancement of the ongoing Phase 1 study of RT-114 via RaniPill® for the treatment of obesity in collaboration with ProGen – - Appointed Alireza Javadi, Ph.D. as Chief Technical Officer - - Appointed Jesper Høiland as Head of Strategy and Dr. Sara Kenkare-Mitra as a Strategic Advisor – SAN JOSE, Calif., May 15, 2026 (GLOBE NEWSWIRE) -- Rani Therapeutics Holdings, Inc. (“Rani Therapeutics”; “Rani” or “Company”) (Nasdaq: RANI), a clinical-stage biotherapeutics company focused on the oral delivery of biologics and drugs, today reported financial results for the first quarter ended March 31, 2026, provided a corporate update, and announced a Chief Financial Officer transition. “In the first quarter of 2026, we strengthened the strategic and scientific foundation of Rani by welcoming two exceptional industry leaders while continuing to advance our lead metabolic program,” said Talat Imran, Chief Executive Officer of Rani Therapeutics. “The appointments of Jesper Høiland as Head of Strategy and Dr. Sara Kenkare-Mitra as Strategic Advisor bring decades of global experience in drug development, commercialization, and portfolio prioritization, expertise that will be instrumental as we evaluate new opportunities for the RaniPill® platform and focus our pipeline on programs with the greatest clinical and commercial potential. Their insights come at an important time, as we continue progressing our ongoing Phase 1 trial of RT-114, our first obesity program in the clinic, an oral GLP-1/GLP-2 dual agonist through our partnership with ProGen. With this strengthened leadership and the continued advancement of RT-114, we believe Rani is well-positioned to execute on our 2026 priorities and continue unlocking the potential of oral biologics for patients.” Rani also today announced that Svai Sanford, Chief Financial Officer, has decided to pursue another professional opportunity and will transition from his role following the appointment of a successor. Mr. Sanford will continue to serve as Chief Financial Officer during a transition period to ensure continuity and support an orderly handover of responsibilities. During his tenure, Mr. Sanford played a central role in the Company’s financial evolution, including leading the Company through its initial public offering and helping establish a strong financial foundation. He also supported multiple financing initiativ...
Investor releaseQuarter not tagged2026-03-27Rani Therapeutics Q4 Earnings Call Highlights
MarketBeat
Rani Therapeutics Q4 Earnings Call Highlights
Chugai collaboration and financing: Rani signed an October 2025 licensing deal with Chugai worth up to ~$1.1 billion (with options for up to five additional targets) and completed an oversubscribed $60.3 million private placement, raising cash to $49.7 million, eliminating outstanding debt, and extending runway into Q4 2027. RT‑114 enters Phase I: Rani initiated a Phase I trial for RT‑114 (oral PG‑102) in December 2025 after preclinical data showed ~111% relative bioavailability and comparable weight loss versus injected PG‑102, with an 8‑week Phase I‑B in obese patients planned to evaluate weight loss, tolerability, and dosing decisions. Interested in Rani Therapeutics Holdings, Inc.? Here are five stocks we like better. Rani Therapeutics (NASDAQ:RANI) executives highlighted what they described as a “transformational” 2025 during the company’s fourth-quarter and full-year earnings call, pointing to progress advancing its oral biologics delivery platform, the launch of a new clinical study, and a new strategic collaboration that helped bolster the balance sheet. Chief Executive Officer Talat Imran said the clinical-stage company continues to develop its proprietary Rani Pill capsule, which is designed to enable oral delivery of biologics and other therapies as an alternative to subcutaneous injections or intravenous infusions while targeting comparable bioavailability. Imran said Rani has conducted multiple preclinical and clinical studies to evaluate safety, tolerability, and bioavailability of therapies delivered using the platform. → Quiet BNY and Northern Trust Reward Patient Investors Imran emphasized a collaboration and licensing agreement signed in October 2025 with Chugai Pharmaceutical, which he said carries a potential total value of up to approximately $1.1 billion. The agreement focuses on developing an oral therapy that combines Rani’s Rani Pill platform with Chugai’s rare disease antibody. He added that the deal includes an option for Chugai to expand the collaboration to as many as five additional drug targets under similar terms, which management framed as evidence of the platform’s scalability and potential applicability across a range of biologic molecules and therapeutic areas, including rare disease and immunology. → The Silicon Squeeze: AI Pricing Power Lifts Chip Stocks Alongside the Chugai agreement, Rani completed an “oversubscribed”...
Investor releaseQuarter not tagged2026-03-27Rani Therapeutics Reports Fourth Quarter and Full Year 2025 Financial Results; Provides Corporate Update
GlobeNewswire
Rani Therapeutics Reports Fourth Quarter and Full Year 2025 Financial Results; Provides Corporate Update
- Announced up to $1.085 billion collaboration with Chugai Pharmaceutical Co. for multiple high-value therapeutics and completed $60.3 million oversubscribed private placement led by Samsara BioCapital with participation from RA Capital Management, Special Situations Funds, and Invus – - Announced preclinical data demonstrating successful oral delivery of semaglutide via RaniPill® – - Announced preclinical data demonstrating the bioequivalence of RT-114, a bispecific GLP-1/GLP-2 dual agonist (PG-102) delivered orally via the RaniPill® capsule, to subcutaneous administration of PG-102 – - Initiated Phase 1 Study of RT-114 RaniPill® for the treatment of obesity in collaboration with ProGen – - Conference call today at 4:30 p.m. ET / 1:30 p.m. PT - SAN JOSE, Calif., March 26, 2026 (GLOBE NEWSWIRE) -- Rani Therapeutics Holdings, Inc. (“Rani Therapeutics” or “Rani”) (Nasdaq: RANI), a clinical-stage biotherapeutics company focused on the oral delivery of biologics and drugs, today reported financial results for the quarter and full year ended December 31, 2025 and provided a corporate update. “We entered 2026 at an important inflection point, highlighted by the initiation of our Phase 1 study of RT-114, our first orally administered GLP-1/GLP-2 (PG-102) dual agonist delivered via the RaniPill® capsule,” said Talat Imran, Chief Executive Officer of Rani Therapeutics. “Throughout 2025, we generated a robust body of preclinical evidence for RT-114 and our oral semaglutide, demonstrating the potential of the RaniPill® platform to enable oral delivery of complex incretin-based therapies. We also strengthened our balance sheet through an oversubscribed private placement led by a premier syndicate of investors and entered into a collaboration and license agreement with Chugai. With the initiation of our Phase 1 trial of RT-114 in December 2025, we are well positioned to advance our first oral GLP-1/GLP-2 dual agonist into clinical development and continue unlocking the potential of the RaniPill® platform across high-value therapeutic areas. We look forward to building on the momentum of 2025 as we execute on our clinical, strategic, and partnership objectives in the year ahead.” Fourth Quarter and Full Year 2025 Highlights: Collaboration and license agreement up to $1.085 billion with Chugai. In October 2025, Rani entered into a Collaboration and License Agreement with C...
TranscriptFY2025 Q42026-03-26FY2025 Q4 earnings call transcript
Earnings source - 35 paragraphs
FY2025 Q4 earnings call transcript
Welcome to the Rani fourth quarter and full year 2025 financial results and corporate update conference call. At this time, all participants are on a listen-only mode. Following management's prepared remarks, Rani will hold a Q&A session. To ensure that you have ample time to address everyone's questioning during the Q&A session, we will ask you to limit yourself to one question and one follow-up. To ask a question at that time, please press star 1 1 on your touch-tone telephone. As a reminder, this call is being recorded today, March 26, 2026. I would now like to turn the conference over to your speaker for today, Stephen Jasper of Gilmartin Group. Please go ahead.
Thank you, operator. Joining us on the call today from Rani Therapeutics, our Chief Executive Officer, Talat Imran, and Chief Financial Officer, Svai Sanford. Earlier today, Rani released financial results for the quarter and year ended December 31, 2025. A copy of the press release is available on the company's website. During this conference call, management will make forward-looking statements that are subject to risks, uncertainties and assumptions such as, but not limited to, those discussed in the Risk Factors section of the company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K filed today, which identified the specific factors that may cause actual results or events to differ materially from those described in these forward-looking statements.
These statements may include, without limitation, statements regarding product development and clinical trials, product potential, market sizes, platform progress, platform potential, certain business strategies, strategic partnership with Chugai, including potential milestone payments under the Chugai license and collaboration agreement, capital resources, projected cash runway, financing plans, or operating performance. Actual results and the timing of events could differ materially from those projected in such forward-looking statements. With that, I will now turn the call over and introduce you to Talat Imran, Chief Executive Officer of Rani Therapeutics. Talat.
Thank you, Stephen. Good afternoon, everyone, and thank you for joining our earnings call for the fourth quarter and full year of 2025. I'm pleased to share the highlights of what we believe was a transformational year for Rani Therapeutics. During 2025, we made significant progress advancing and validating the RaniPill platform across multiple therapeutic modalities, while also strengthening our financial position and expanding our strategic partnerships. For those newer to our story, Rani Therapeutics is a clinical-stage biotherapeutics company developing a platform designed to enable the oral delivery of biologics and other therapies. Our proprietary RaniPill capsule is intended to replace subcutaneous injections or intravenous infusions with an oral capsule while achieving comparable bioavailability. To date, we have conducted several preclinical and clinical studies evaluating the safety, tolerability, and bioavailability of therapies delivered using the RaniPill technology.
On today's call, I will begin by reviewing key milestones achieved over the past year across our strategic partnerships and financial activities, followed by progress across our pipeline. Following my remarks, Svai Sanford, our Chief Financial Officer, will review our financial results for the fourth quarter and full year 2025. Also joining us on the call today is Kate McKinley, our Chief Business Officer. Let me start with our strategic partnerships and financing progress, which we believe further validate both the RaniPill platform and our broader business model. In October 2025, we entered into a collaboration and licensing agreement with Chugai Pharmaceutical for a potential total value of up to approximately $1.1 billion. The agreement focused on the development of an oral therapy combining our RaniPill platform with Chugai's rare disease antibody.
Importantly, the agreement also included an option for Chugai to expand the collaboration to up to five additional drug targets under similar terms. We believe this highlights the scalability of the RaniPill platform and the potential to apply it across a broad range of biologic molecules over time. More broadly, this partnership highlights the broad applicability of the RaniPill platform across multiple high-value therapeutic areas, including rare disease and immunology, where biologics remain the standard of care but are constrained by injectable delivery. Concurrently with the Chugai agreement, we've strengthened our balance sheet through an oversubscribed $60.3 million private placement, including $6 million of debt conversion led by leading life science investors. This financing significantly enhanced our capital position and extended our projected cash runway into the fourth quarter of 2027, enabling us to continue advancing both our pipeline and platform development.
Turning now to our pipeline progress, which was driven by strong preclinical and early clinical momentum across our key programs. We continue to be encouraged by the data for RT-114, our bispecific GLP-1/GLP-2 receptor agonist, PG-102, delivered orally via the RaniPill capsule. As a reminder, PG-102 is an Fc fusion GLP-1/GLP-2 molecule in development by ProGen. In March 2025, we reported preclinical data demonstrating that RT-114 achieved 111% relative bioavailability compared to subcutaneous PG-102, with comparable pharmacokinetic profiles. Importantly, we also observed comparable weight loss between oral RT-114 and injected PG-102, with less variability in the RT-114 group. These findings are particularly meaningful in the context of the rapidly evolving obesity treatment landscape. While current therapies demonstrate strong efficacy, they are often associated with tolerability challenges that can contribute to high discontinuation rates.
We believe the RaniPill platform may offer a differentiated approach by enabling oral delivery of these same biologics while maintaining comparable exposure and absorption. Across our studies to date, therapies delivered via the RaniPill capsule have demonstrated high tolerability, supporting our belief that oral biologics could meaningfully improve the patient experience without compromising efficacy. These results also build on encouraging clinical data generated by ProGen in its phase I program with subcutaneous PG-102, where obese patients experienced average weight loss of 4.8%, with reductions of up to 8.7% after five weeks of dosing. We were also pleased to present additional RT-114 data at ENDO 2025 in a late-breaking oral presentation, where canine data further confirmed bioequivalence and strengthened our confidence in the translational potential of the program.
Building on this momentum, in December 2025, we initiated a phase I clinical trial of RT-114. The study is designed to evaluate safety, tolerability, bioavailability, pharmacokinetics, and pharmacodynamics across single and multiple doses. With RT-114 now in the clinic, we are entering an important new phase for the RaniPill platform and advancing what we believe could be a meaningful opportunity in oral obesity therapies. Moving to our additional programs, in February 2025, we reported preclinical data for RT-116, our oral semaglutide delivered via RaniPill, demonstrating comparable bioavailability, pharmacokinetics, and weight loss relative to subcutaneous semaglutide. RT-116 was well-tolerated, with no serious adverse events observed. Taken together, the data from RT-114 and RT-116 continue to reinforce our confidence in the RaniPill platform as a versatile oral delivery solution for incretin-based therapies.
Overall, we believe the progress we made this past year reflects our continued commitment to advancing the RaniPill platform and realizing our vision of making oral biologics a reality across a broad range of therapeutic areas. With RT-114 now in the clinic and a strengthened balance sheet supporting our development plans, we believe we are entering an exciting new phase for the company. We look forward to building on this momentum in 2026 as we continue advancing our pipeline and expanding our strategic partnerships. With that, I will now turn the call over to Svai Sanford, our Chief Financial Officer, to review our financial results.
Thank you, Talat, and good afternoon, everyone. Thank you for joining us today. As Talat has mentioned, earlier today we issue a press release and file our Form 10-K with the SEC containing our financial results for the fourth quarter and full year 2025. I will briefly highlight a few key financial items on today's call. Additional detail can be found in our press release and in the Form 10-K. Turning to the balance sheet, cash equivalents, and marketable securities total $49.7 million as of December 31, 2025, compared to $27.6 million at year-end 2024. The increase reflects the oversubscribed $60.3 million private placement that we closed in October 2025, as well as the upfront license payment from the collaboration agreement with Chugai, which closed concurrently with the private placement.
During the fourth quarter of 2025, we also repay all of the outstanding debt due to Avenue Capital and no longer have any outstanding debt obligations as of December 31, 2025. Based on our current operating plan, we believe our existing cash equivalents, and marketable securities, including expected technology transfer milestone payment under the Chugai agreement, will fund our operations into the fourth quarter of 2027 without the need for additional financing. Turning to our operating results. Contract revenue for the fourth quarter and year-end 2025 was $1.5 million and $1.6 million, respectively. Of this amount, $1.5 million related to the Chugai license and collaboration agreement, and $0.1 million related to the evaluation services for our customer.
Although the Chugai agreement included a $10 million upfront payment, revenue recognition guidance requires us to recognize that amount over time as we satisfy our performance obligation under the contract. As a result, only $1.5 million of that amount was recognized as revenue in the fourth quarter. For comparison, contract revenue for the same period in 2024 totaled $1 million, all of which related to evaluation services. Research and development expenses for the fourth quarter and full year 2025 were $4.9 million and $20.2 million respectively, compared to $6.8 million and $26.7 million for the same periods in 2024. The $6.5 million year-over-year decrease reflects the cost containment measure that we implemented, including temporary pause and termination of certain R&D programs and reduction in compensation.
We do expect R&D expenses to increase going forward as we resume select programs and continue advancing our technology platform. General and administrative expenses for the fourth quarter and full year 2025 were $5.1 million and $19.7 million, respectively, compared to $5.5 million and $23.9 million for the same period in 2024. The year-over-year decrease of $4.2 million primarily reflects the cost containment measures, including reduction in employee compensation. Net losses for the fourth quarter and full year 2025 were $9.1 million and $41 million, respectively, compared to $15.7 million and $56.6 million in the same period of 2024.
This amount includes non-cash stock-based compensation expense of $2.2 million in the fourth quarter and $11.8 million for the full year 2025, compared to $4 million and $16 million for the same period in 2024. That concludes my comments on the financial section. I will now return the call back over to Talat for closing comments. Talat?
Thank you, Svai. In closing, we believe the progress we made this past year further validates the potential of the RaniPill platform to transform how biologic medicines are delivered. Our collaboration with Chugai represents an important strategic milestone and highlights the broad applicability of our platform across multiple therapeutic areas. Importantly, the agreement also creates the opportunity to expand the partnership to additional molecules over time, which we believe could further unlock the value of the RaniPill platform at scale. We are particularly excited about the near-term opportunity in obesity. The preclinical data we have generated with RT-114 and RT-116 reinforce our belief that the RaniPill platform can deliver meaningful differentiation in this rapidly evolving market. While current therapies demonstrate strong efficacy, they are often associated with tolerability challenges and high discontinuation rates.
We believe an oral therapy capable of achieving drug exposures comparable to subcutaneous administration could represent a significant advancement for patients. Finally, following the successful private placement completed in October, we are well capitalized to execute on our development plans and advance our clinical pipeline. Overall, we are excited about the momentum we are carrying into 2026 with RT-114 now in the clinic, continued progress across our obesity programs, and expanding strategic partnerships. We believe we are well positioned to continue advancing our vision of making oral biologics a reality across a broad range of therapeutic areas. With that, I will now open the call up for questions. Operator?
Thank you. As a reminder, if you would like to ask a question, please press star 1 1 on your telephone. You will then hear the automated message advising your hand is raised. If you would like to remove yourself from the queue, please press star one again. One moment while we compile the Q&A roster. Our first question today will be coming from the line of Brandon Folkes of H.C. Wainwright. Your line is open.
Hi. Thanks for taking my questions, and congrats on all the progress. Maybe just two from me. Firstly, on 114, you know, when we do see the data, are you going to present any weight loss data or should we just look at bioavailability data and draw a parallel to PG 102? Then secondly, you know, given the potential tolerability of 114, how should we think about additional doses that you could explore? Are you going to explore an equivalent dose to PG 102 or could you explore additional doses as well? Thank you.
Hi, Brandon. Thank you for the questions. For the first one, on your question around our RT-114 GLP-1, GLP-2 program and what data to expect once we've completed the phase I. We are doing a phase I-B. As a reminder, this is an 8-week study in obese patients, so weight loss is one of the endpoints. We will look at that against the historical data for this molecule, as it's called by ProGen PG-102, to see if we're running around the same type of weight loss or the same trajectory. In terms of tolerability, it is something that we have debated that if we're showing similar tolerability and the convenience of an oral, could you pursue higher doses? I think even ProGen is looking at that with their SubQ.
I think it remains to be seen what we get in terms of data from this phase I-B study, as it pertains to weight loss. The reality I think in this space is that there are many options to lose weight, with these incretin-based therapies. There are very few, vanishingly few that do so, with tolerability profiles that'll keep most patients on the therapy for the long term. Our focus is more on the latter than on just maximizing weight loss and, driving up, any kind of nausea or vomiting or other tolerability issues it might present. I would say, on first blush, we would err towards tolerability because I think that's the primary differentiation factor of this drug.
We will, you know, just as anyone else would, look at the data once it's generated and draw our conclusions from that.
Great. Thank you very much, and congrats on all the progress.
Yeah. Thank you, Brandon.
One moment for the next question. The next question will be coming from the line of Michael Okunewitch of Maxim Group. Your line is open.
Hey, guys. Thank you so much for taking my questions today. Congrats on all the great progress. I guess I'd like to follow up and talk a little bit more about the phase I study for RT-114, and particularly the importance of that study and what new questions we should be looking for answers to, particularly in the context of PG-102 already having demonstrated some efficacy and safety for the active ingredient. I guess, where do you see the additional value to be unlocked in the clinical data for RT-114 specifically?
Hi, Michael. Thank you for your question. If you look back at the historical clinical data generated by Rani, we've shown consistently shown high bioavailability across multiple programs, octreotide, teriparatide, and the secukinumab monoclonal antibody. This is the first Fc fusion protein to go into the clinic, so there will be some interesting learnings from that in terms of PK. But primarily what we are most excited about and what we hope the market sees as well is this is the first PD study, going back to Brandon's question. This is the first PD study with the RaniPill in humans. We've generated PD data, weight loss data in particular with several incretins, RT-114 or PG-102 included in canines, and showed comparable weight loss to SubQ.
If we can recreate that in humans, if we're able to show that in phase I-B, we believe that that has the potential to read on to other incretin programs and really other programs in general, whether they're in immunology or rare disease or some other therapeutic area. Because ultimately, the RaniPill is a delivery mechanism. It's a swallowable auto-injector. If we can show similar PK correlates to similar weight loss with RT-114, we think this has. First, it's a milestone for the company and for that program, but then more broadly, it speaks to the broad applicability and potential of the RaniPill platform in multiple therapeutic areas.
All right. Would it be fair to say this is a key item for any additional conversations you're having on partnering efforts, either with Chugai for their other compounds that they have the five additional options for or for additional pharma partners?
It depends on the pharma partner. It goes back to the comment I made about the broad applicability. Some partners may be looking for that. I think it's gonna be a de-risking event, assuming the data is good, for any conversations that we have. Specifically with Chugai, I don't want to comment on what their thinking is for their option programs. They're our partner, and it's, you know, within their decision-making on when to exercise, if and when to exercise. I'm sure that having PD data, positive PD data, would not hurt for anybody, though.
All right. Well, thank you for the additional clarity, and I look forward to seeing that data as it starts to emerge.
We do too. Thank you, Michael.
Thank you. This does conclude today's Q&A session. I would like to go ahead and turn the call over to Talat for closing remarks. Please go ahead.
Thank you, Lisa. This concludes our fourth quarter and full year 2025 financial results and corporate update conference call. Thank you again, everyone, for joining us this afternoon.
Thank you everyone for dialing in. You may now disconnect.
Investor releaseQuarter not tagged2026-03-25What To Expect From Rani Therapeutics Holdings Inc (RANI) Q4 2025 Earnings
GuruFocus.com
What To Expect From Rani Therapeutics Holdings Inc (RANI) Q4 2025 Earnings
This article first appeared on GuruFocus. Rani Therapeutics Holdings Inc (NASDAQ:RANI) is set to release its Q4 2025 earnings on Mar 26, 2026. The consensus estimate for Q4 2025 revenue is $0.01 billion, and the earnings are expected to come in at -$0.06 per share. The full year 2025's revenue is expected to be $0.01 billion and the earnings are expected to be -$0.45 per share. More detailed estimate data can be found on the Forecast page. Warning! GuruFocus has detected 5 Warning Signs with RANI. Is RANI fairly valued? Test your thesis with our free DCF calculator. Revenue estimates for Rani Therapeutics Holdings Inc (NASDAQ:RANI) have remained flat at $5.19 million for the full year 2025 and at $7.00 million for 2026 over the past 90 days. Similarly, earnings estimates have also remained flat at -$0.45 per share for the full year 2025 and at -$0.24 per share for 2026 over the past 90 days. In the previous quarter of 2025-03-31, Rani Therapeutics Holdings Inc's (NASDAQ:RANI) actual revenue was $0.17 million, which beat analysts' revenue expectations of $0 million by 0%. Rani Therapeutics Holdings Inc's (NASDAQ:RANI) actual earnings were -$0.12 per share, which beat analysts' earnings expectations of -$0.153 per share by 21.57%. After releasing the results, Rani Therapeutics Holdings Inc (NASDAQ:RANI) was up by 15.59% in one day. Based on the one-year price targets offered by 4 analysts, the average target price for Rani Therapeutics Holdings Inc (NASDAQ:RANI) is $8.00 with a high estimate of $11.00 and a low estimate of $5.00. The average target implies an upside of 654.72% from the current price of $1.06. Based on GuruFocus estimates, the estimated GF Value for Rani Therapeutics Holdings Inc (NASDAQ:RANI) in one year is $0, suggesting a downside of -100% from the current price of $1.06. Based on the consensus recommendation from 3 brokerage firms, Rani Therapeutics Holdings Inc's (NASDAQ:RANI) average brokerage recommendation is currently 2.0, indicating an "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Investor releaseQuarter not tagged2026-03-20Rani Therapeutics to Report Fourth Quarter and Full Year 2025 Financial Results
GlobeNewswire
Rani Therapeutics to Report Fourth Quarter and Full Year 2025 Financial Results
SAN JOSE, Calif., March 19, 2026 (GLOBE NEWSWIRE) -- Rani Therapeutics Holdings, Inc. (“Rani Therapeutics” or “Rani”) (Nasdaq: RANI), a clinical-stage biotherapeutics company focused on the oral delivery of biologics and drugs, today announced that it plans to release financial results for the fourth quarter and full year ended December 31, 2025 and provide a business update on Thursday, March 26, 2026 after the close of trading. Rani’s management team will host a conference call and webcast beginning at 4:30 p.m. ET. Conference Call and Webcast Rani Therapeutics will host a conference call and live webcast at 4:30 p.m. ET / 1:30 p.m. PT on March 26, 2026. Individuals interested in listening to the live conference call may do so by using the webcast link in the “Investors” section of the company’s website at www.ranitherapeutics.com. A webcast replay will be available in the investor relations section on the company’s website following the completion of the call. About Rani Therapeutics Rani Therapeutics is a clinical-stage biotherapeutics company focused on advancing technologies to enable the development of orally administered biologics and drugs. Rani has developed the RaniPill® capsule, which is a novel, proprietary and patented platform technology, intended to replace subcutaneous injection or intravenous infusion of biologics and drugs with oral dosing. Rani has successfully conducted several preclinical and clinical studies to evaluate safety, tolerability and bioavailability using RaniPill® capsule technology. Investor Contact: [email protected] Media Contact: [email protected]
Investor releaseQuarter not tagged2025-11-11RANI: Third Quarter Results
Zacks Small Cap Research
RANI: Third Quarter Results
By John Vandermosten, CFA NASDAQ:RANI READ THE FULL RANI RESEARCH REPORT On November 6th, Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) reported third quarter 2025 results. Since our last update following the announcement of the Chugai deal and the $60 million private placement, Rani has closed the capital raise, added new board members and announced participation in ObesityWeek 2025. The recent collaboration with Chugai, the associated upfront payment and the follow-on capital raise provide a substantial boost and vote of confidence for the RaniPill, which have in part been reflected in the share price move. In this report, we update our model to reflect third quarter earnings and update investors on news since the start of the third quarter. 3Q:25 Operational and Financial Results Rani reported third quarter results in a press release and Form 10-Q filing with the SEC on November 6th. For the quarter ending September 30th, 2025, revenues were zero and operating expense was $7.9 million. Net loss per share for Class A shareholders was ($0.12). Research and development expenses totaled $3.2 million, down 48% from $6.2 million due to lower compensation costs, a smaller team and reduced spending on facilities; General & administrative expenses were $4.0 million, falling 28% from $5.6 million on lower compensation costs and a fall in third party services; Net interest expense was ($657,000) vs. ($923,000) due to lower cash balances; Non-controlling interest was ($2.5) million vs. ($5.9) million; Net loss for Class A shareholders was ($5.4) million vs. ($6.8) million or ($0.12) and ($0.24) per share. As of September 30th, 2025, cash and marketable securities totaled $4.1 million. This amount compares to the $27.6 million balance held at the end of 2024. Long-term debt was held on the balance sheet at $13.5 million. Cash used in operations and for capital expenditures for the first nine months of 2025 was ($19.1) million versus ($27.1) million in the same prior year period. During the third quarter, Rani repaid $3.8 million in debt bringing the carrying value of this debt to $13.5 million. Offsetting this outflow was a $2.8 million inflow from the July securities purchase agreement. Following the end of the third quarter, Rani announced a deal with Chugai that provided a $10 million upfront payment and spurred a $60.3 million capital raise. After accounting for...
Investor releaseQuarter not tagged2025-11-07Rani Therapeutics Reports Third Quarter 2025 Financial Results; Provides Corporate Update
GlobeNewswire
Rani Therapeutics Reports Third Quarter 2025 Financial Results; Provides Corporate Update
– Announced up to $1.085 billion collaboration with Chugai Pharmaceutical Co. for multiple high-value therapeutics – – Completed $60.3 million oversubscribed private placement led by Samsara BioCapital with participation from RA Capital Management, Anomaly, Special Situations Funds, and Invus – – Appointed Abraham Bassan and Vasudev Bailey, Ph.D. to the Board of Directors – – Cash runway expected to extend into 2028 – SAN JOSE, Calif., Nov. 06, 2025 (GLOBE NEWSWIRE) -- Rani Therapeutics Holdings, Inc. (“Rani Therapeutics” or “Rani”) (Nasdaq: RANI), a clinical-stage biotherapeutics company focused on the oral delivery of biologics and drugs, today reported financial results for the third quarter ended September 30, 2025 and provided a corporate update. “We are proud to begin a new chapter for Rani, with world-class pharma partners and top-tier biotech investors demonstrating confidence in our platform and vision to transform injectable biologics into oral therapies,” said Talat Imran, Chief Executive Officer of Rani Therapeutics. “Our collaboration with Chugai, which could reach a total value of over $1 billion, together with the oversubscribed $60.3 million private placement, provides validation of the transformative potential of our RaniPill® platform. With our cash runway expected to extend into 2028 and Abraham Bassan and Vasudev Bailey, Ph.D. joining our Board of Directors, we are well-positioned to execute on our strategy as we enter a new era of growth. Looking ahead, we remain focused on initiating a Phase 1 trial for RT-114, our novel oral therapy targeting obesity, by the end of 2025.” Third Quarter 2025 Highlights: Collaboration and License Agreement up to $1.085 Billion with Chugai. In October 2025, Rani Therapeutics entered into a Collaboration and License Agreement with Chugai to develop an oral therapy combining the RaniPill® platform with Chugai’s rare disease antibody. The agreement includes an option for Chugai to expand its rights to up to five additional drug targets under similar terms, potentially bringing the total deal value to $1.085 billion. This partnership highlights the transformative potential of the RaniPill® to enable oral delivery of complex biologics, traditionally administered via injection, offering a pathway to improved patient adherence and broader therapeutic accessibility. $60.3 Million Oversubscribed Private Placement....
Investor releaseQuarter not tagged2025-08-12RANI: Second Quarter Financial Results
Zacks Small Cap Research
RANI: Second Quarter Financial Results
By John Vandermosten, CFA NASDAQ:RANI READ THE FULL RANI RESEARCH REPORT On August 7th, Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) reported second quarter 2025 results. Since our last update, Rani has signed a research agreement with Chugai Pharmaceutical, presented ProGen’s PG102 preclinical data at ENDO and raised additional capital in preparation for a 2H:25 launch of the Phase I RT-114 trial. Rani continues to interact with prospects to sign a deal with an established biopharmaceutical company, which may include upfronts, milestones and royalties. 2Q:25 Operational and Financial Results Rani reported second quarter results in a press release and Form 10-Q filing with the SEC on August 7th. For the quarter ending June 30th, 2025, no revenues were recognized and operating expense was ($10.5) million and net loss per share for Class A shareholders was ($0.18). Research and development expenses totaled $5.5 million, down 10% from $6.1 million mostly due to lower compensation costs, a smaller team partially offset by slightly higher third-party service costs; General & administrative expenses were $5.0 million, falling 22% from $6.4 million on lower compensation costs, reduction in workforce and a fall in third party services; Net interest expense was ($719,000) vs. ($837,000) due to lower cash balances; Non-controlling interest was ($4.5) million vs. ($6.6) million; Net loss for Class A shareholders was ($6.7) million vs. ($6.8) million or ($0.18) and ($0.26) per share. As of June 30th, 2025, cash and marketable securities totaled $10.2 million. This amount compares to the $27.6 million balance held at the end of 2024. Long-term debt was held on the balance sheet at $17.2 million. Cash used in operations and for capital expenditures for the first half of 2025 was ($14.0) million versus ($18.5) million in the same prior year period. During the second quarter, Rani repaid $3.8 million in debt bringing the total to $7.5 million for 2025. Offsetting this outflow was $3.9 million from the exercise of warrants. Following the end of the second quarter, Rani raised an additional $3.0 million from the issuance of 7.5 million shares at $0.40 per share. Research Agreement with Chugai A May 19th press release informed investors that Rani had signed a research agreement with Chugai Pharmaceutical Co. on August 13th, 2024. The agreement granted Chugai rights to develo...
Investor releaseQuarter not tagged2025-08-08Rani Therapeutics Reports Second Quarter 2025 Financial Results; Provides Corporate Update
GlobeNewswire
Rani Therapeutics Reports Second Quarter 2025 Financial Results; Provides Corporate Update
– Announced strategic research collaboration with Chugai for two undisclosed molecules – – Presented preclinical data demonstrating bioequivalence of novel, bispecific GLP-1/GLP-2 receptor agonist delivered orally via RaniPill (RT-114) compared to subcutaneous delivery at ENDO 2025 – – Phase 1 study for RT-114 for the treatment of obesity expected to initiate in the second half of 2025 – – Announced a warrant inducement transaction with an existing investor with gross proceeds of $4.3 million – – Announced pricing of $3.0 million registered direct offering – SAN JOSE, Calif., Aug. 07, 2025 (GLOBE NEWSWIRE) -- Rani Therapeutics Holdings, Inc. (“Rani Therapeutics” or “Rani”) (Nasdaq: RANI), a clinical-stage biotherapeutics company focused on the oral delivery of biologics and drugs, today reported financial results for the second quarter ended June 30, 2025 and provided a corporate update. “In the second quarter of 2025, we have announced a research collaboration with Chugai for two molecules with undisclosed targets,” said Talat Imran, Chief Executive Officer of Rani Therapeutics. “We believe this collaboration has the potential to transform into a long-term strategic partnership as we advance our pipeline of oral biologic therapies aimed at addressing the needs of patients with chronic diseases. Additionally, at ENDO 2025, we presented compelling preclinical data on our oral bispecific GLP-1/GLP-2 receptor agonist, RT-114. This data, demonstrating bioequivalence to subcutaneous injections in canines, highlights RT-114’s potential to revolutionize the obesity treatment landscape. Looking ahead to the second half of 2025, we remain focused on initiating a Phase 1 trial for RT-114 as a novel oral therapy for obesity.” Second Quarter 2025 Highlights: Strategic Research Collaboration with Chugai. In May 2025, Rani announced that the company has entered into a Research Collaboration in August 2024 for two molecules with undisclosed targets provided by Chugai. The full analysis confirms the RaniPill® delivery demonstrated comparable bioavailability to the subcutaneous route of delivery for both molecules studied. Late Breaking Presentation oral, novel, bispecific GLP-1/GLP-2 receptor agonist at ENDO 2025. In July 2025, Rani announced the presentation of preclinical data on oral delivery of a bispecific GLP-1/GLP-2 receptor agonist (PG-102) via a robotic pill (RT-11...
Investor releaseQuarter not tagged2025-05-19RANI: 1Q:25 Financial Results
Zacks Small Cap Research
RANI: 1Q:25 Financial Results
By John Vandermosten, CFA NASDAQ:RANI READ THE FULL RANI RESEARCH REPORT On May 13th Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) reported first quarter 2025 results. Year to date, Rani has updated investors on ProGen’s PG102 asset and reported preclinical data for RT-114 and RT-116, or RaniPill semaglutide. In the financial sphere, the company paid down $3.8 million of debt and consumed ($12.0) million in operational expenses during 1Q:25. Rani’s lead program, RT-114, produced favorable preclinical data demonstrating superior bioavailability compared to the underlying molecule’s subcutaneous results. Most critically, Rani continues to interact with prospects to sign a deal with an established biopharmaceutical company which may include upfronts, milestones and royalties. 1Q:25 Operational and Financial Results Rani reported first quarter results in a press release and Form 10-Q filing with the SEC on May 13th. For the quarter ending March 31st, 2025, revenues were $172,000, operating expense was ($12.0) million and net loss per share for Class A shareholders was ($0.22). Revenues of $172,000 were recognized representing an evaluation arrangement with a customer vs. $0; Research and development expenses totaled $6.6 million, down 13% from $7.6 million mostly due to lower compensation costs, a smaller team and reduced third party service costs; General & administrative expenses were $5.6 million, falling 13% from $6.4 million on lower compensation costs, reduction in workforce and lower other costs; Net interest expense was ($725,000) vs. ($745,000) due to lower cash balances; Non-controlling interest was ($5.5) million vs. ($7.3) million; Net loss for Class A shareholders was ($7.3) million vs. ($7.5) million or ($0.22) and ($0.29) per share. As of March 31st, 2025, cash and marketable securities totaled $15.9 million. This amount compares to the $27.6 million balance held at the end of 2024. Long-term debt was held on the balance sheet at $24.6 million. 1Q:25 cash used in operations and for capital expenditures was ($8.2) million versus ($9.4) million in the same prior year period. During the first quarter, Rani repaid $3.8 million in debt, reducing the carrying value of debt outstanding to $20.9 million. Management expects cash to be sufficient to support operations until 3Q:25. Research Agreement with Chugai A May 19th press release informed investors t...
Investor releaseQuarter not tagged2025-05-14Rani Therapeutics Reports First Quarter 2025 Financial Results; Provides Corporate Update
GlobeNewswire
Rani Therapeutics Reports First Quarter 2025 Financial Results; Provides Corporate Update
- Announced preclinical data demonstrating the bioequivalence of RT-114, a bispecific GLP-1/GLP-2 receptor agonist (PG-102), delivered orally via the RaniPill® capsule, to subcutaneous administration of PG-102 - - Phase 1 study for RT-114 for the treatment of obesity expected to initiate in mid-2025 - - Announced preclinical data demonstrating successful oral delivery of semaglutide via RaniPill® capsule - SAN JOSE, Calif., May 13, 2025 (GLOBE NEWSWIRE) -- Rani Therapeutics Holdings, Inc. (“Rani Therapeutics” or “Rani”) (Nasdaq: RANI), a clinical-stage biotherapeutics company focused on the oral delivery of biologics and drugs, today reported financial results for the first quarter ended March 31, 2025 and provided a corporate update. “We are encouraged by our progress this quarter, highlighted by promising preclinical data supporting the development of multiple incretin-based therapies using the RaniPill® platform. These data serve as preclinical proof of concept for the treatment of obesity bringing us one step closer to our vision of making oral biologics a reality for patients living with obesity,” said Talat Imran, Chief Executive Officer of Rani Therapeutics. “In our preclinical study, oral delivery of RT-114 demonstrated pharmacokinetics, bioavailability, and weight loss comparable to subcutaneous injection. Further, our target product profile for RT-114 requires less frequent dosing than current oral options providing a potentially more convenient dosing regimen for patients. Overall, we believe RT-114 has the potential to fill the current gap in the obesity treatment landscape as a first-in-class oral bispecific GLP-1/GLP-2 receptor agonist. Our Phase 1 study of RT-114 is expected to begin later this year.” First Quarter 2025 Highlights: Preclinical data demonstrating bioequivalence of RT-114, a bispecific GLP-1/GLP-2 receptor agonist (PG-102) delivered orally via the RaniPill® capsule, to subcutaneously administered PG-102. In March 2025, Rani released new preclinical data, where RT-114 yielded a relative bioavailability of 111% compared to PG-102 delivered subcutaneously with comparable pharmacokinetic profiles demonstrating bioequivalence. Data adds to growing body of evidence of the RaniPill® platform’s potential to enable oral delivery of multiple obesity treatments. Preclinical data demonstrating successful oral delivery of semaglutide via Ran...