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Rani Therapeutics Holdings (RANI) investor relations material
Rani Therapeutics Holdings Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Entered a collaboration and license agreement with Chugai, including $10M upfront, up to $175M in milestones, and royalties, with potential expansion to five additional drug targets and a total value up to $1.085B.
Closed a $60.3M private placement, including $6M in debt conversion, significantly strengthening liquidity and reducing debt.
Net loss for Q3 2025 was $7.9M, a 37.8% improvement year-over-year; nine-month net loss was $31.9M, down 22%.
R&D and G&A expenses declined sharply due to cost containment and program pauses.
Appointed Abraham Bassan and Vasudev Bailey, Ph.D. to the Board of Directors.
Financial highlights
Q3 2025 contract revenue: $0.2M, from Chugai evaluation services.
Q3 2025 R&D expenses: $3.2M, down 47.8% year-over-year; G&A: $4.0M, down 28.3%.
Net loss attributable to shareholders: $5.4M for Q3 2025 ($0.12/share), $19.4M for nine months ($0.50/share).
Cash, cash equivalents, and restricted cash at September 30, 2025: $4.6M; pro forma liquidity improved post-October financing.
Total assets as of September 30, 2025 were $10.1M; total liabilities $22.1M.
Outlook and guidance
Cash runway, including proceeds from the Chugai deal and private placement, is expected to fund operations for at least 12 months and potentially into 2028.
Management expects continued operating losses as R&D and clinical programs resume and expand.
Plans to initiate clinical testing of the RaniPill HC and RT-114 by end of 2025.
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