Rani Therapeutics Holdings (RANI) Company Report

Rani Therapeutics reported a net loss of $7.9 million for the third quarter ended September 30, 2025, an improvement from a $12.7 million net loss in the same period of 2024. Research and development expenses decreased to $3.2 million and general and administrative expenses to $4.0 million for Q3 2025.
The company announced a collaboration and license agreement with Chugai Pharmaceutical Co. with a potential total value of up to $1.085 billion.
Rani Therapeutics completed an oversubscribed private placement, raising approximately $60.3 million.
As of September 30, 2025, cash, cash equivalents, and marketable securities totaled $4.1 million. However, including the recent private placement and initial payment from the Chugai agreement, the company expects its cash runway to extend into 2028.
The company appointed Abraham Bassan and Vasudev Bailey, Ph.D. to its Board of Directors and plans to initiate a Phase 1 clinical trial for RT-114, an oral obesity therapy, by the end of 2025.

Nov 6, 2025, 9:30 PM

Rani Therapeutics Holdings, Inc. Announces $60.3 Million Private Placement

RANI

Rani Therapeutics Holdings, Inc. entered into a private placement on October 16, 2025, to issue 42,633,337 shares of Class A common stock, warrants to purchase up to 125,000,004 shares of Class A common stock, and pre-funded warrants to purchase up to 82,366,667 shares of Class A common stock.
The private placement is expected to generate approximately $60.3 million in aggregate gross proceeds for the company, before deducting placement agent fees and other expenses.
The purchase price for shares sold to institutional investors was $0.48 per share, while an affiliated investor paid $0.605 per share. Pre-funded warrants were priced at $0.4799 per warrant.
As part of the transaction, Avenue agreed to convert $6.0 million of outstanding loans into 12,500,000 shares (or pre-funded warrants) and receive warrants to purchase up to 12,500,000 shares of Class A common stock.
The company also agreed to seek stockholder approval for the issuance of shares underlying the common warrants within 75 days following the closing date and plans to amend its Certificate of Incorporation within 90 days to reduce Class B common stock voting power and eliminate written consent.