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SAN JOSE, Calif. - Rani Therapeutics Holdings, Inc. (NASDAQ:RANI), a clinical-stage biotherapeutics company developing oral delivery systems for biologics with a current market capitalization of $28.2 million, announced Tuesday it has entered into a securities purchase agreement with a single institutional investor in a registered direct offering. According to InvestingPro analysis, the company faces significant financial challenges with negative EBITDA of $46.55 million in the last twelve months.
The agreement includes the sale of 4,354,000 shares of Class A common stock at $0.40 per share and pre-funded warrants to purchase 3,146,000 additional shares at $0.3999 per share. The pre-funded warrants carry an exercise price of $0.0001 per share. This financing comes at a crucial time, as InvestingPro data shows the company’s current ratio of 0.88, indicating short-term obligations exceed liquid assets.
Maxim Group LLC is serving as the sole placement agent for the transaction, which is expected to close on or about July 16, 2025, pending customary closing conditions.
The company anticipates gross proceeds of approximately $3 million from the offering, before deducting placement agent fees and other expenses, and excluding any potential proceeds from warrant exercises.
The securities are being offered through a "shelf" registration statement on Form S-3 that was previously declared effective by the Securities and Exchange Commission in August 2022.
Rani Therapeutics is developing the RaniPill capsule technology, which aims to replace subcutaneous injections or intravenous infusions of biologics with oral administration. The company reports it has conducted several preclinical and clinical studies evaluating the safety, tolerability, and bioavailability of its technology. Investors tracking this development can access comprehensive analysis and 14 additional key insights through InvestingPro’s detailed research reports, which provide in-depth coverage of the company’s financial health and growth prospects.
This information is based on a press release statement issued by the company.
In other recent news, Rani Therapeutics Holdings has announced a significant presentation at the Endocrine Society’s Annual Meeting in 2025, where it will showcase preclinical data on its RaniPill capsule technology. This development highlights the bioequivalence of Rani’s oral delivery system with traditional injections, potentially advancing oral biologics delivery. Meanwhile, Rani Therapeutics disclosed the results of its annual stockholder meeting, confirming the election of several directors and the ratification of its accounting firm, CBIZ CPAs P.C. The company also struck a deal to issue new Series D common stock warrants, expecting gross proceeds of approximately $4.3 million, which will be used for working capital and corporate purposes.
Furthermore, Rani Therapeutics announced a research collaboration with Chugai Pharmaceutical to explore the oral delivery of therapeutic antibodies using the RaniPill technology. This partnership could lead to significant advancements in drug administration methods. In terms of analyst activity, Oppenheimer adjusted its price target for Rani Therapeutics from $14.00 to $4.00 but maintained an Outperform rating, reflecting strategic shifts in the company’s focus towards the obesity market. Rani is preparing to initiate a Phase 1 study for its innovative oral RaniPill containing PG-102, which showed promising preclinical results for obesity treatment.
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