Reports cash, cash equivalents, and marketable securities as of December 31 totaled $98.5M, compared to cash and cash equivalents of $117.5M for the year ended December 31, 2021. There were no marketable securities in the prior comparative period. Rani expects its cash, cash equivalents and marketable securities to be sufficient to fund its operations to mid-2024.."The past year has proven transformative for Rani, highlighted by the positive topline Phase 1 results for RT-102 in osteoporosis and the unveiling of our high-capacity capsule, the RaniPill HC. We also announced the preclinical development of our oral ustekinumab program, RT-111, and earlier this year partnered with Celltrion to support the advancement of that program. These achievements mark significant milestones for the Company and are a testament to the hard work and dedication of the entire Rani team," said Talat Imran, Chief Executive Officer of Rani. "In 2023, we anticipate continuing this momentum with the initiation of the Company’s first Phase 2 study in RT-102 as well as the initiation of Phase 1 studies with three additional pipeline assets. I look forward to providing updates throughout the year as we work to further solidify our commitment to developing orally delivered biologics and drugs."
Published first on TheFly
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