Financial Performance - Net loss for Q3 2024 was $12.7 million, compared to $18.3 million for the same period in 2023, showing an improvement[5][9] - Net loss attributable to Rani Therapeutics Holdings, Inc. for Q3 2024 was $6.8 million, compared to $9.2 million in Q3 2023[9] - General and administrative expenses for Q3 2024 were $5.6 million, down from $6.6 million in Q3 2023, reflecting a decrease of $1.0 million[5][9] - Research and development expenses for Q3 2024 were $6.2 million, a decrease of $5.0 million compared to $11.2 million in Q3 2023[5][9] Cash and Liquidity - Completed two equity offerings with total gross proceeds of approximately $20.0 million, extending cash runway into Q3 2025[1][3] - Cash, cash equivalents, and marketable securities as of September 30, 2024, totaled $30.4 million, down from $48.5 million at the end of 2023[4] - Total liabilities as of September 30, 2024, were $37.8 million, an increase from $32.5 million at the end of 2023[8] Clinical Development - Initiation of Phase 1 clinical trial of RT-114, a GLP-1/GLP-2 dual agonist for obesity treatment, is expected in 2025[4][2] - New preclinical pharmacokinetic data supports transenteric delivery of GLP-1 incretin triagonist, enhancing the potential of the RaniPill® platform[2][3] Shareholder Information - Weighted-average Class A common shares outstanding for Q3 2024 were 28,836, up from 25,552 in Q3 2023[9]
Rani Therapeutics (RANI) - 2024 Q3 - Quarterly Results