August 10, 2022
SAN JOSE, Calif., Aug. 10, 2022 (GLOBE NEWSWIRE) — Rani Therapeutics Holdings, Inc. (“Rani Therapeutics”, “the Company” or “Rani”) (Nasdaq: RANI), a clinical-stage biotherapeutics company focused on the oral delivery of biologics and drugs, today reported positive topline results for the single-ascending portion of the Phase 1 clinical study of RT-102, a RaniPill capsule containing PTH for the treatment of osteoporosis and financial results for the second quarter ended June 30, 2022. In August 2022, the company completed four-year debt financing agreement for up to $45.0 million with Avenue Capital Group, with $15.0 million funded at the closing of the loan. Rani intends to use the proceeds to support the continued advancement of the RaniPill platform, ongoing clinical pipeline development, and general operations, and expects the financings to extend its cash runway into mid-2024. Managing Partner Laureen DeBuono is Lead Independent Director.
Full press release is here.