RANI Stock — Rani Therapeutics Holdings Inc.: Cash, EV, Pipeline

Share price

$0.86

Market cap

$120.2M

Cash

$53.4M

Enterprise value

$80.6M

Balance sheet

Cash	$53.4M
Debt	$13.8M
Net cash	$39.6M
Enterprise value	$80.6M
Basic shares	187.2M shares
Fully diluted shares	119.2M shares
Fully diluted market cap	$102.5M
Cash per share	$0.29

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Jan 12 - Feb 23	PG-102	Phase 1	Obesity	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

RT-114

Phase 1 · Active Modality: oral delivery capsule (RaniPill HC)

Target GLP-1/GLP-2

Partnerships ProGen Co., Ltd.: collaboration agreement (June 2024); RT-114 developed in collaboration with ProGen; development costs and operating profits/losses shared equally; either party may opt out

Status note RaniPill HC capsule containing PG-102, a bispecific GLP-1/GLP-2 receptor agonist. Phase 1 clinical trial initiated December 2025; positive initial data from the single-dose, open-label Phase 1a portion announced July 15, 2026 (30 healthy volunteers); Phase 1a expanded with an additional 15-volunteer cohort (two 12 mg doses).

Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	RT-114 is the RaniPill capsule with PG-102 for the treatment of obesity
Lead indication	Obesity
Lead phase	Phase 1
Active trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06891287	Phase 1	Recruiting	Sponsor	RANI Therapeutics	—	Obesity	—

Sponsor-matched active trials from ClinicalTrials.gov (1 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 1 active trials for RANI Therapeutics on ClinicalTrials.gov

No specialist-fund holders in 13F data for this company.

RANI — Rani Therapeutics Holdings Inc.