Rani Therapeutics Holdings, Inc.
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 6, 2025
RANI$0.56-2.5%Stored close · as of Nov 10, 2026
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Item 1. Condensed Consolidated Statements of Operations
CONDENSED Consolidated Statements of Operations
(in thousands, except per share amounts)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Contract revenue | $— | $— | $172 | $— |
| Operating expenses | ||||
| Research and development | 3,221 | 6,172 | 15,296 | 19,872 |
| General and administrative | 4,036 | 5,627 | 14,651 | 18,484 |
| Total operating expenses | $7,257 | $11,799 | $29,947 | $38,356 |
| Loss from operations | (7,257) | (11,799) | (29,775) | (38,356) |
| Other income (expense), net | ||||
| Interest income and other, net | 68 | 414 | 443 | 1,403 |
| Interest expense and other, net | (725) | (1,337) | (2,544) | (3,909) |
| Net loss | $(7,914) | $(12,722) | $(31,876) | $(40,862) |
| Net loss attributable to non-controlling interest | (2,502) | (5,939) | (12,508) | (19,791) |
| Net loss attributable to Rani Therapeutics Holdings, Inc. | $(5,412) | $(6,783) | $(19,368) | $(21,071) |
| Net loss per Class A common share attributable to Rani Therapeutics Holdings, Inc., basic and diluted | $(0.12) | $(0.24) | $(0.50) | $(0.78) |
| Weighted-average Class A common shares outstanding—basic and diluted | 46,444 | 28,836 | 38,856 | 27,071 |
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