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Rani Therapeutics Holdings Inc. (RANI+3.78%) has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024 filing.
The report details the company's ongoing efforts to develop its proprietary RaniPill capsule, designed to deliver biologics orally. Rani has completed three Phase 1 clinical trials with the RaniPill GO and is developing the RaniPill HC, which is intended for higher capacity drug delivery.
Rani's financial statements reveal a net loss of approximately $56.6 million for the year, with cash, cash equivalents, and marketable securities totaling $27.6 million as of December 31, 2024. The company acknowledges substantial doubt regarding its ability to continue as a going concern without additional funding.
In 2024, Rani entered into a collaboration with ProGen Co., Ltd. to develop RT-114, a GLP-1/GLP-2 dual agonist for obesity treatment. The collaboration involves shared development costs and profits.
Rani also secured financing through securities purchase agreements in July and October 2024, raising net proceeds of $8.9 million and $9.4 million, respectively.
The company highlights several risks, including its reliance on third-party suppliers, potential delays in clinical trials, and the need for additional capital to fund ongoing operations and development efforts.
Rani's pipeline includes multiple product candidates, such as RT-111 for inflammatory conditions and RT-102 for osteoporosis, with plans to initiate further clinical trials in 2025.
The report outlines Rani's strategic focus on partnering with biopharmaceutical companies to leverage its oral delivery technology for a broader range of biologics and drugs.
Rani faces competition from other companies developing oral biologics and acknowledges the challenges of obtaining regulatory approvals for its novel delivery platform.
The filing also discusses the company's intellectual property portfolio, which includes patents related to its RaniPill technology, and ongoing efforts to expand and protect these assets.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Rani Therapeutics Holdings Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.