$Rani Therapeutics (RANI.US)$ NEWS Rani Therapeutics Reports...
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Rani Therapeutics Reports First Quarter 2024 Financial Results; Provides Corporate Update
Rani Therapeutics reported positive topline results from a Phase 1 study for RT-111, an oral anti-Interleukin 12/23 antibody, and plans to initiate a Phase 2 clinical trial for RT-102 for osteoporosis treatment in 2024. The company's RaniPill HC is set for potential Phase 1 trials later in 2024. Financially, Rani Therapeutics had $39.6 million in cash, cash equivalents, and marketable securities as of March 31, 2024, with a decrease in research and development expenses compared to the previous year.
Rani Therapeutics reported positive topline results from a Phase 1 study for RT-111, showing high bioavailability and good tolerability. This could lead to a favorable product profile for autoimmune disorders.
The company plans to initiate a Phase 2 clinical trial for RT-102, a RaniPill capsule for osteoporosis treatment, in 2024.
RaniPill HC is expected to be ready for potential Phase 1 clinical trials in the second half of 2024, showcasing continued innovation and development in the company's pipeline.
The company plans to initiate a Phase 2 clinical trial for RT-102, a RaniPill capsule for osteoporosis treatment, in 2024.
RaniPill HC is expected to be ready for potential Phase 1 clinical trials in the second half of 2024, showcasing continued innovation and development in the company's pipeline.
Rani Therapeutics experienced a decrease in cash, cash equivalents, and marketable securities from $48.5 million in December 2023 to $39.6 million in March 2024, potentially impacting future financial operations and investments.
The company reported a net loss of $14.8 million for the three months ended March 31, 2024, compared to $16.8 million for the same period in 2023, with stock-based compensation expenses included.
The company reported a net loss of $14.8 million for the three months ended March 31, 2024, compared to $16.8 million for the same period in 2023, with stock-based compensation expenses included.
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