Rani Therapeutics Reports Second Quarter 2021 Financial Results, Provides Corporate Update
- IPO in July 2021 raised $84.3 million in gross proceeds -
SAN JOSE, Calif., Sept. 13, 2021 (GLOBE NEWSWIRE) -- Rani Therapeutics Holdings, Inc. (“Rani Therapeutics” or “Rani”) (Nasdaq: RANI), a clinical stage biotherapeutics company focused on the oral delivery of biologics, today reported financial results for the second quarter ended June 30, 2021 and provided a corporate update.
“This is an exciting phase for Rani following a successful IPO, which puts us in position to achieve our goals, including scaling and optimizing our manufacturing process, establishing the regulatory pathway for our capsule technology, and advancing our pipeline with clinical and development milestones,” said Talat Imran, Chief Executive Officer of Rani Therapeutics. “We are committed to making oral biologics a reality, and we are looking forward to creating value along the way for both patients and shareholders.”
Second Quarter 2021 and Subsequent Highlights
Second Quarter 2021 Financial Results
About Rani Therapeutics
Certain statements set forth in this press release constitute “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements include, but are not limited to, statements related to: the progress of Rani’s clinical and development programs and any clinical trials; Rani’s ability to successfully scale and optimize its manufacturing process; the effectiveness of Rani’s capsule technology; Rani’s continued growth; and the strength of Rani’s balance sheet and the adequacy of cash on hand. Because such forward-looking statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements can be identified by terms such as “believes,” “expects,” “plans,” “potential,” “would” or similar expressions, and the negative of those terms. These forward-looking statements are based on Rani’s current beliefs, expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties related to Rani’s ability to successfully develop its product candidates through current and future milestones or regulatory filings on the anticipated timeline, if at all, the therapeutic potential of Rani’s product candidates, the risk that results from preclinical studies or early clinical trials may not be representative of larger clinical trials, the risk that Rani’s product candidates will not be successfully developed or commercialized, risks related to Rani’s dependence on third-parties in connection with its manufacturing, clinical trials and preclinical studies, and the potential impact of COVID-19 on Rani’s clinical and preclinical development timelines and results of operations. For a further list and description of the risks and uncertainties Rani faces, please refer to Rani’s periodic and other filings with the Securities and Exchange Commission, which are available at www.sec.gov. Such forward-looking statements are current only as of the date they are made, and Rani assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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RANI THERAPEUTICS, LLC
RANI THERAPEUTICS, LLC
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