Rani Therapeutics Q2 net loss narrows as revenue rises helped by Chugai agreement
RANI•Analyst coverage
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the biotechnology & medical research peer group is "buy"
- Wall Street's median 12-month price target for Rani Therapeutics Holdings Inc is $7.00, about 771.9% above its August 12 closing price of $0.80
Drivers of the quarter
- Clinical progress — Positive initial Phase 1a data for RT-114 showed oral bioavailability exceeding subcutaneous dosing, with continued advancement in the clinic
- Collaboration revenue — Increase in contract revenue was primarily due to the collaboration and license agreement with Chugai
- Pipeline expansion — Obesity pipeline expanded through new research and development collaboration with
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