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Rani Therapeutics Reports Third Quarter 2022 Financial Results and Provides Corporate Update
- RT-102 Phase 1 topline repeat-dose data anticipated in 4Q 2022 - - Announced preclinical development of RT-111, a RaniPill GO capsule containing ustekinumab
About this update from Rani Therapeutics Holdings, Inc.
[{"type":"text","content":"- RT-102 Phase 1 topline repeat-dose data anticipated in 4Q 2022 - - Announced preclinical development of RT-111, a RaniPill GO capsule containing ustekinumab biosimilar for the potential treatment of psoriatic arthritis, ulcerative colitis, Crohn’s disease and psoriasis - - Announced RT-102 Phase I single-dose topline results - SAN JOSE, Calif., Nov. 10, 2022 (GLOBE NEWSWIRE) -- Rani Therapeutics Holdings, Inc. (“Rani Therapeutics” or “Rani”) (Nasdaq: RANI), a clinical-stage biotherapeutics company focused on the oral delivery of biologics and drugs, today reported financial results for the quarter ended September 30, 2022, and provided a corporate update. “I am delighted with what Rani has been able to accomplish so far this year, highlighted by the recent announcements of the latest RaniPill program RT-111, and positive topline data from Part 1 of the Phase 1 study of RT-102,” said Talat Imran, Chief Executive Officer of Rani Therapeutics. “In the remainder of the year, we expect to announce topline data from Part 2 of the Phase 1 study of RT-102, which will provide the first repeat-dose data of the RaniPill capsule in humans. Additionally, we intend to continue to build out the RaniPill platform by beginning in vivo studies of a fully-autonomous RaniPill HC by year-end. Turning to 2023, we expect to initiate a Phase 2 study of RT-102 and to progress three additional assets into Phase 1 studies during the year as we advance the clinical development of our pipeline.” Third Quarter 2022 and Subsequent Highlights Announced the preclinical development of RT-111. In October 2022, the company announced that it had begun preclinical development of RT-111, a RaniPill GO containing a biosimilar of STELARA® (ustekinumab) for the potential treatment of psoriatic arthritis, ulcerative colitis, Crohn’s disease and psoriasis. Rani intends to initiate a Phase 1 study for RT-111 in 2023.Announced Positive Topline Phase 1 Results for RT-102. In August 2022, Rani announced positive topline results from Part 1 of the Phase 1 clinical study of RT-102, the RaniPill GO containing a proprietary formulation of human parathyroid hormone (PTH) for the potential treatment of osteoporosis. RT-102 was generally well-tolerated and orally delivered 20µg and 80µg of PTH with 300-400% greater bioavailability of PTH than subcutaneous Forteo® (teriparatide) 20...