Rani Therapeutics Q3 net loss widens on higher R&D costs
RANI•Rani Therapeutics reported a third-quarter net loss of $8.81 million as higher research and development costs contributed to a year-over-year widening. The company expects its cash reserves to fund operations through the end of 2027.
1. Quarterly results
Rani Therapeutics reported third-quarter net loss of $8.81 million, operating expenses of $10.93 million and a loss from operations of $9.22 million. Higher research and development expenses reflected increased compensation, third-party services and facility costs; general and administrative expenses also rose.
2. Company outlook
The company expects its cash reserves to fund operations through the end of 2027 and expects additional RT-114 Phase 1a data by the end of 2026. It said it plans to invest in manufacturing automation to support further clinical development and has been accepted into the FDA Emerging Technology Program for its RaniPill platform. Contract revenue rose on the Chugai collaboration.
