RANI Rani Therapeutics Holdings Inc.

18.88
-2.16  -10%
Previous Close 21.04
Open 20.83
52 Week Low 9.24
52 Week High 36.27
Market Cap $372,160,181
Shares 19,711,874
Float 7,309,689
Enterprise Value $306,730,181
Volume 53,354
Av. Daily Volume 62,607
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Drug Pipeline

Drug Stage Notes
RT-101
Neuroendocrine tumors (NETs) and acromegaly
Phase 1
Phase 1
Phase 1 trial has been completed. Further trials planned.

Latest News

  1. SAN JOSE, Calif., Jan. 07, 2022 (GLOBE NEWSWIRE) -- Rani Therapeutics Holdings, Inc. ("Rani Therapeutics" or "Rani") (NASDAQ:RANI), a clinical stage biotherapeutics company focused on the oral delivery of biologics, today announced the appointment of Lisa Rometty to its Board of Directors. Ms. Rometty brings significant global commercial leadership experience across a spectrum of start-ups to mature businesses in medical device, technology and pharmaceuticals.

    "In our effort to pioneer the field of oral biologics, we are building a world-class team that can help us achieve our goals," said Talat Imran, Chief Executive Officer of Rani Therapeutics. "I'm delighted to welcome Lisa to our Board. Lisa's expertise in commercializing new products…

    SAN JOSE, Calif., Jan. 07, 2022 (GLOBE NEWSWIRE) -- Rani Therapeutics Holdings, Inc. ("Rani Therapeutics" or "Rani") (NASDAQ:RANI), a clinical stage biotherapeutics company focused on the oral delivery of biologics, today announced the appointment of Lisa Rometty to its Board of Directors. Ms. Rometty brings significant global commercial leadership experience across a spectrum of start-ups to mature businesses in medical device, technology and pharmaceuticals.

    "In our effort to pioneer the field of oral biologics, we are building a world-class team that can help us achieve our goals," said Talat Imran, Chief Executive Officer of Rani Therapeutics. "I'm delighted to welcome Lisa to our Board. Lisa's expertise in commercializing new products and forming strategic partnerships will play a critical role in the ongoing development of the RaniPill technology and its anticipated future commercialization."

    Ms. Rometty is a seasoned healthcare executive with more than 25 years of experience in global commercialization, strategic partnerships, product development and marketing. She has led large global teams in China, Southeast Asia, Japan, Europe and the US, and her expertise includes leading operations within highly complex and regulated environments; commercializing new products and services; pioneering new customer experiences and creating new ecosystems via partnerships and mergers and acquisitions.

    Ms. Rometty currently serves as President of CVS Kidney Care, a CVS Health start-up that is focused on disrupting the kidney disease market through patient-centric technology. Prior to her role at CVS Health, Ms. Rometty served as President, Global Client Solutions at Syneos Health. Before Syneos, she held roles as Chief Commercial Officer and General Manager, Oncology & Life Sciences at IBM Watson Health Solutions. Earlier in her career, Ms. Rometty held leadership roles with Baxter Healthcare and General Electric.

    "I've spent my career working to improve patients' lives. Rani offers an incredible opportunity to transform how people are treated with life-saving biologic therapies," said Lisa Rometty. "I could not be more excited to join Rani's board to help lay the groundwork for the potential commercialization of the novel RaniPill technology."

    Ms. Rometty earned an MBA from the University of Notre Dame and a BS in Social Science & International Business from Michigan State University.

    Rani Therapeutics

    Rani Therapeutics is a clinical stage biotherapeutics company focused on advancing technologies to enable the development of orally administered biologics. Rani has developed the RaniPill™ capsule, which is a novel, proprietary and patented platform technology, intended to replace subcutaneous injection of biologics with oral dosing. Rani has successfully conducted several preclinical and clinical studies to evaluate safety, tolerability and bioavailability using the RaniPill™ capsule.

    Forward-Looking Statements

    Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, Rani's advancement of its RaniPill™ capsule technology, the impact of its technology on medical treatment, Rani's advancement of its preclinical and clinical programs, customer acceptance of the RaniPill™ capsule technology, Rani's ability to attract and retain talent, Rani's prospects for entering into strategic partnerships or transactions, and Rani's growth as a company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "may," "look forward," "progress," "advance" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Rani's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with Rani's business in general, the impact of the COVID-19 pandemic, and the other risks described in Rani's filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. Rani undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

    Investor Contact:

    Media Contact:

    Source: Rani Therapeutics



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  2. SAN JOSE, Calif., Nov. 15, 2021 (GLOBE NEWSWIRE) -- Rani Therapeutics Holdings, Inc. ("Rani Therapeutics" or "Rani") (NASDAQ:RANI), a clinical stage biotherapeutics company focused on the oral delivery of biologics, today reported financial results for the quarter ended September 30, 2021, and provided a corporate update.

    "I am pleased with the progress Rani has made since our IPO. As we build a solid foundation for being a successful public company, we are laser focused on creating value and achieving our milestones," said Talat Imran, Chief Executive Officer of Rani Therapeutics. "Looking ahead, I'm excited about this important and exciting next phase as we prepare for additional clinical studies with the RaniPill™ capsule, including our…

    SAN JOSE, Calif., Nov. 15, 2021 (GLOBE NEWSWIRE) -- Rani Therapeutics Holdings, Inc. ("Rani Therapeutics" or "Rani") (NASDAQ:RANI), a clinical stage biotherapeutics company focused on the oral delivery of biologics, today reported financial results for the quarter ended September 30, 2021, and provided a corporate update.

    "I am pleased with the progress Rani has made since our IPO. As we build a solid foundation for being a successful public company, we are laser focused on creating value and achieving our milestones," said Talat Imran, Chief Executive Officer of Rani Therapeutics. "Looking ahead, I'm excited about this important and exciting next phase as we prepare for additional clinical studies with the RaniPill™ capsule, including our Phase I study with Parathyroid Hormone planned for 2022."  

    Third Quarter 2021 and Subsequent Highlights

    • Completed a GLP 7-day repeat oral administration study. In November 2021, Rani completed a GLP 7-day repeat oral administration study to evaluate the safety and tolerability of RT-102. RT-102 comprises a RaniPill™ capsule containing a Parathyroid Hormone (PTH) payload for the potential treatment or prevention of osteoporosis. The study was designed to assess the gastrointestinal tract for lesions and changes in clinical pathology, while also determining that the drug payload has been successfully delivered via the RaniPill™ capsule. Completion of a GLP study is an important step in moving towards a Phase I study.



    • Expanded Board of Directors; Named Lyn Baranowski to Rani Board. In November 2021, Rani announced the appointment of Lyn Baranowski to its Board of Directors. Ms. Baranowski is a distinguished biotechnology executive with nearly two decades of experience in the industry. She brings a diverse set of knowledge around product portfolios and therapeutic areas as well as deep experience in creating strategic partnerships and executing complex financial transactions ranging from preclinical to commercial assets. Ms. Baranowski currently serves as Chief Operating Officer at Altavant Sciences, Inc., a private biotechnology company. Prior to Altavant, Ms. Baranowski held roles of increasing responsibility at Novartis Pharmaceuticals, Vatera Healthcare, Pearl Therapeutics and Melinta Therapeutics.



    • Added leadership talent. In September 2021, Rani announced the appointment of Eric Groen as General Counsel. Mr. Groen has more than 25 years of experience in managing legal matters in corporate and private practice.



    • Completed IPO; Underwriters exercised green shoe option in full. In August 2021, Rani completed an initial public offering (IPO) of 7,666,667 shares of its Class A common stock, which included the full exercise by the underwriters of their option to purchase an additional 1,000,000 shares at the initial public offering price of $11.00 per share. The full offering provided aggregate gross proceeds of approximately $84.3 million to Rani, before deducting underwriting discounts and commissions and offering expenses.



    Third Quarter 2021 Financial Results

    • Cash, cash equivalents and short-term investments as of September 30, 2021 were $129.7 million. Rani expects its cash and cash equivalents balance to be sufficient to fund its operating expenses and capital expenditure requirements at least until the end of 2023.



    • Research and development (R&D) expenses for the three months ended September 30, 2021 were $12.0 million, compared to $2.1 million for the same period in 2020. The increase was primarily attributed to higher compensation and benefits due to the increase in headcount, including $6.6 million of non-cash equity-based compensation expense recognized in connection with the IPO and Organizational Transactions.



    • General and administrative expenses for the three months ended September 30, 2021 were $15.8 million, compared to $0.8 million for the same period in 2020. The increase was primarily attributed to the public company related costs and higher compensation and benefits due to the increase in headcount, including $12.1 million of non-cash equity-based compensation expense recognized in connection with the IPO and Organizational Transactions.



    • Net loss for the three months ended September 30, 2021 was $28.7 million, compared to $2.9 million for the same period in 2020.



    About Rani Therapeutics



    Rani Therapeutics is a clinical stage biotherapeutics company focused on advancing technologies to enable the development of orally administered biologics. Rani has developed the RaniPill™ capsule, which is a novel, proprietary and patented platform technology, intended to replace subcutaneous injection of biologics with oral dosing. Rani has successfully conducted several preclinical and clinical studies to evaluate safety, tolerability and bioavailability using the RaniPill™ capsule.

    Forward-Looking Statements

    Certain statements set forth in this press release constitute "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements include, but are not limited to, statements related to: the progress, timing and results of Rani's clinical and development programs and any clinical trials, including its planned Phase I study with Parathyroid Hormone (PTH) and its GLP 7-day repeat oral administration study; Rani's continued growth, ability to create value and achieve milestones; and the strength of Rani's balance sheet and the adequacy of cash on hand. Because such forward-looking statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements can be identified by terms such as "believes," "expects," "plans," "potential," "would" or similar expressions, and the negative of those terms. These forward-looking statements are based on Rani's current beliefs, expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties related to Rani's ability to successfully develop its product candidates through current and future milestones or regulatory filings on the anticipated timeline, if at all, the therapeutic potential of Rani's product candidates, the risk that results from preclinical studies or early clinical trials may not be representative of larger clinical trials, the risk that Rani's product candidates will not be successfully developed or commercialized, risks related to Rani's dependence on third-parties in connection with its manufacturing, clinical trials and preclinical studies, and the potential impact of COVID-19 on Rani's clinical and preclinical development timelines and results of operations. For a further list and description of the risks and uncertainties Rani faces, please refer to Rani's periodic and other filings with the Securities and Exchange Commission (SEC), which are available at www.sec.gov. Such forward-looking statements are current only as of the date they are made, and Rani assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

    Investor Contact

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    RANI THERAPEUTICS HOLDINGS, INC

    Condensed Consolidated Balance Sheets 

    (In thousands, except par value) 

      September 30,

    2021
     December 31,

    2020
      (Unaudited)  
    Assets    
    Current assets:    
    Cash and cash equivalents $129,743  $73,058 
    Related party note receivable     1,720 
    Prepaid expenses  2,622   167 
    Total current assets  132,365   74,945 
    Property and equipment, net  4,593   4,470 
    Total assets $136,958  $79,415 
    Liabilities, Convertible Preferred Units and Stockholders' Equity / Members' Deficit    
    Current liabilities:    
    Accounts payable $1,311  $537 
    Related party payable  290   145 
    Accrued expenses  3,649   550 
    Deferred revenue     2,717 
    Current portion of long-term debt     1,359 
    Total current liabilities  5,250   5,308 
    Preferred unit warrant liability     320 
    Long-term debt, less current portion     2,412 
    Total liabilities  5,250   8,040 
    Commitments and contingencies (Note 10)    
    Convertible preferred units     184,714 
    Stockholders' equity / members' deficit:    
    Common units     664 
    Preferred stock, $0.0001 par value - 20,000 shares authorized; none issued and outstanding as of September 30, 2021      
    Class A common stock, $0.0001 par value - 800,000 shares authorized; 19,712 issued and outstanding as of September 30, 2021  2    
    Class B common stock, $0.0001 par value - 40,000 shares authorized; 29,290 issued and outstanding as of September 30, 2021  3    
    Class C common stock, $0.0001 par value - 20,000 shares authorized; none issued and outstanding as of September 30, 2021      
    Additional paid-in capital  54,503    
    Accumulated deficit  (3,142)  (114,003)
    Total stockholders' equity attributable to Rani Therapeutics Holdings, Inc. / (members' deficit)  51,366   (113,339)
    Non-controlling interest  80,342    
    Total stockholders' equity / (members' deficit)  131,708   (113,339)
    Total liabilities, convertible preferred units and stockholders' equity / (members' deficit) $136,958  $79,415 



    RANI THERAPEUTICS HOLDINGS, INC

    Condensed Consolidated Statements of Operations and Comprehensive Loss 

    (In thousands, except per share amounts) 

    (Unaudited) 

      Three Months Ended September 30, Nine Months Ended September 30,
       2021   2020   2021   2020 
    Contract revenue $  $108  $2,717  $252 
    Operating expenses        
    Research and development  11,959   2,090   19,065   8,708 
    General and administrative  15,822   845   21,889   3,144 
    Total operating expenses $27,781  $2,935  $40,954  $11,852 
    Loss from operations  (27,781)  (2,827)  (38,237)  (11,600)
    Other income (expense), net        
    Interest income  13   13   73   87 
    Loss on extinguishment of debt  (700)     (700)   
    Interest expense and other, net  (110)  (64)  (467)  (66)
    Change in estimated fair value of preferred unit warrant  (85)     (371)  655 
    Loss before income taxes  (28,663)  (2,878)  (39,702)  (10,924)
    Income tax expense  (37)  (5)  (81)  (23)
    Net loss and comprehensive loss $(28,700) $(2,883) $(39,783) $(10,947)
    Net loss attributable to non-controlling interest  (25,558)  (2,883)  (36,641)  (10,947)
    Net loss attributable to Rani Therapeutics Holdings, Inc. $(3,142) $  $(3,142) $ 
    Net loss per Class A common share attributable to Rani Therapeutics Holdings, Inc., basic and diluted $(0.16)   $(0.16)  
    Weighted-average Class A common shares outstanding—basic and diluted  19,437     19,437   


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  3. SAN JOSE, Calif., Nov. 12, 2021 (GLOBE NEWSWIRE) -- Rani Therapeutics Holdings, Inc. ("Rani Therapeutics" or "Rani") (NASDAQ:RANI), a clinical stage biotherapeutics company focused on advancing technologies to enable the development of orally administered biologics, today announced the appointment of Lyn Baranowski to its Board of Directors. Ms. Baranowski is a distinguished biotechnology executive with nearly two decades of experience.

    "Lyn is a well-respected biotechnology executive whose deep experience includes a diverse set of product portfolios and therapeutic areas," said Talat Imran, Chief Executive Officer of Rani Therapeutics. "Lyn's track record in creating strategic partnerships and executing complex financial transactions involving…

    SAN JOSE, Calif., Nov. 12, 2021 (GLOBE NEWSWIRE) -- Rani Therapeutics Holdings, Inc. ("Rani Therapeutics" or "Rani") (NASDAQ:RANI), a clinical stage biotherapeutics company focused on advancing technologies to enable the development of orally administered biologics, today announced the appointment of Lyn Baranowski to its Board of Directors. Ms. Baranowski is a distinguished biotechnology executive with nearly two decades of experience.

    "Lyn is a well-respected biotechnology executive whose deep experience includes a diverse set of product portfolios and therapeutic areas," said Talat Imran, Chief Executive Officer of Rani Therapeutics. "Lyn's track record in creating strategic partnerships and executing complex financial transactions involving preclinical to commercial stage assets will be invaluable as we continue to advance our technology and grow the company."

    Lyn Baranowski has 18 years' experience building, directing and guiding biopharmaceutical companies. Currently, Ms. Baranowski serves as the Chief Operating Officer at Altavant Sciences, a clinical stage biopharmaceutical company focused on rare respiratory diseases. Prior to Altavant, Ms. Baranowski served as the Senior Vice President, Corporate Development and Strategy at Melinta Therapeutics, where she guided the company through significant milestones including the FDA's approval of the company's lead asset, a successful public listing, and an acquisition of a key business unit from the Medicines Company. Prior to Melinta, Ms. Baranowski was the Vice President, Commercial Development at Pearl Therapeutics where she was instrumental in the company's acquisition by AstraZeneca. Earlier in her career, Ms. Baranowski was Vice President at Vatera Healthcare, a private equity / venture capital firm, and held a variety of roles in business development, marketing and policy with Novartis Pharmaceuticals.

    "The RaniPill is a disruptive technology with the potential to revolutionize the way biologics are delivered, and I am thrilled to be involved with a company at the forefront of replacing painful injections with pain-free, oral alternatives," said Lyn Baranowski. "I look forward to leveraging my experience guiding strategic transactions to help Rani achieve its goals as the company progresses its development pipeline into and eventually through the clinic."

    Ms. Baranowski received her BA in international studies from American University as well as an MBA from Harvard Business School.

    About Rani Therapeutics

    Rani Therapeutics is a clinical stage biotherapeutics company focused on the oral delivery of biologics, which we believe will have the potential to transform medicine and improve patient outcomes. The company has developed the RaniPill™ capsule, a novel, proprietary and patented platform technology, intended to replace subcutaneous or IV injection of biologics with oral dosing. Rani has successfully conducted several preclinical and clinical studies to evaluate safety, tolerability and bioavailability using the RaniPill™ capsule.

    Forward-Looking Statements

    Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, Rani's advancement of its RaniPill™ capsule technology, the impact of its technology on medical treatment, Rani's advancement of its preclinical and clinical programs, and Rani's growth as a company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "may," "look forward," "progress," "advance" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Rani's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with Rani's business in general, the impact of the COVID-19 pandemic, and the other risks described in Rani's filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. Rani undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

    Investor Contact:

     

    Media Contact:

     

    Source: Rani Therapeutics 



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  4. SAN JOSE, Calif., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Rani Therapeutics (NASDAQ:RANI), a clinical stage biotherapeutics company focused on the oral delivery of biologics, today announced that the company's Chief Executive Officer, Talat Imran, will participate in a fireside chat at the Stifel 2021 Virtual Healthcare Conference on Wednesday, November 17, 2021, at 7:00 a.m. PT / 10:00 a.m. ET.

    Interested parties can access the live audio webcast for this conference from the Investor Relations section of the company's website at www.ranitherapeutics.com. The webcast replay will be available after the conclusion of the live presentation for approximately 30 days.

    About Rani Therapeutics

    Rani Therapeutics is a clinical stage biotherapeutics company…

    SAN JOSE, Calif., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Rani Therapeutics (NASDAQ:RANI), a clinical stage biotherapeutics company focused on the oral delivery of biologics, today announced that the company's Chief Executive Officer, Talat Imran, will participate in a fireside chat at the Stifel 2021 Virtual Healthcare Conference on Wednesday, November 17, 2021, at 7:00 a.m. PT / 10:00 a.m. ET.

    Interested parties can access the live audio webcast for this conference from the Investor Relations section of the company's website at www.ranitherapeutics.com. The webcast replay will be available after the conclusion of the live presentation for approximately 30 days.

    About Rani Therapeutics

    Rani Therapeutics is a clinical stage biotherapeutics company focused on the oral delivery of biologics, which we believe will have the potential to transform medicine and improve patient outcomes. The company has developed the RaniPill™ capsule, a novel, proprietary and patented platform technology, intended to replace subcutaneous or IV injection of biologics with oral dosing. Rani has successfully conducted several preclinical and clinical studies to evaluate safety, tolerability and bioavailability using the RaniPill™ capsule.

    Investor Contact:

    Media Contact:

    Source: Rani Therapeutics



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  5. SAN JOSE, Calif., Sept. 23, 2021 (GLOBE NEWSWIRE) -- Rani Therapeutics (NASDAQ:RANI), a clinical stage biotherapeutics company focused on the oral delivery of biologics, today announced that the company's Chief Executive Officer, Talat Imran, will present at the Cantor Fitzgerald Virtual Global Healthcare Conference on Thursday, September 30, 2021, at 9:00 a.m. PT / 12:00 p.m. ET.

    Interested parties can access the live audio webcast for this conference from the Events page in the Investor Relations section of the company's website at www.ranitherapeutics.com. The webcast replay will be available after the conclusion of the live presentation for approximately 30 days.

    About Rani Therapeutics

    Rani Therapeutics is a clinical stage biotherapeutics…

    SAN JOSE, Calif., Sept. 23, 2021 (GLOBE NEWSWIRE) -- Rani Therapeutics (NASDAQ:RANI), a clinical stage biotherapeutics company focused on the oral delivery of biologics, today announced that the company's Chief Executive Officer, Talat Imran, will present at the Cantor Fitzgerald Virtual Global Healthcare Conference on Thursday, September 30, 2021, at 9:00 a.m. PT / 12:00 p.m. ET.

    Interested parties can access the live audio webcast for this conference from the Events page in the Investor Relations section of the company's website at www.ranitherapeutics.com. The webcast replay will be available after the conclusion of the live presentation for approximately 30 days.

    About Rani Therapeutics

    Rani Therapeutics is a clinical stage biotherapeutics company focused on the oral delivery of biologics, which we believe will have the potential to transform medicine and improve patient outcomes. The company has developed the RaniPill™ capsule, a novel, proprietary and patented platform technology, intended to replace subcutaneous or IV injection of biologics with oral dosing. Rani has successfully conducted several preclinical and clinical studies to evaluate safety, tolerability and bioavailability using the RaniPill™ capsule.

    Investor Contact:

    Media Contact:

    Source: Rani Therapeutics



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