RANI (Rani Therapeutics Holdings Inc.) stock: $0.82, $114.5M market cap, $53.4M cash, $74.9M EV, $97.7M fully diluted market cap. Next expected readout: Dec-26. Lead program: RT-114 is the RaniPill capsule with PG-102 for the treatment of obesity (Obesity), Phase 1. Data from Fully Diluted's biotech stocks database.
Share price
$0.82
Market cap
$114.5M
Cash
$53.4M
Enterprise value
$74.9M
Balance sheet
Cash
$53.4M
Debt
$13.8M
Net cash
$39.6M
Enterprise value
$74.9M
Basic shares
187.2M shares
Fully diluted shares
119.2M shares
Fully diluted market cap
$97.7M
Cash per share
$0.29
Cash figures as of 2026-06-30. Database snapshot: 2026-09-22.
Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.
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
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.