Rani Therapeutics reports Q2 2026 results, advances RT-114 oral GLP-1/GLP-2 program
Rani dosed the first participants in an expanded RT-114 cohort, posted early Phase 1a data topping subcutaneous exposure, and said cash covers operations at least through 2027.
Rani Therapeutics Holdings reported second quarter 2026 financial results on August 13, 2026, alongside a pipeline and corporate update.
The company said the first participants have been dosed in an expansion cohort of the Phase 1a study of RT-114, an orally administered RaniPill Capsule delivering PG-102, a GLP-1/GLP-2 dual agonist developed by ProGen Co., Ltd., with the cohort expanded to add fifteen healthy volunteers so Rani can build a pharmacokinetic dataset for the RaniPill HC ahead of a planned Phase 1b repeat-dose study in obesity patients.1 Rani said it expects to begin that Phase 1b study by the end of 2026, with data anticipated in 2027, and to have additional Phase 1a expansion cohort data by the end of 2026.
In July 2026, Rani reported initial Phase 1a results in healthy volunteers. In the single-dose portion of that study, 30 healthy volunteers were randomized to receive an identical 12 mg dose of PG-102, given either orally through RT-114 or by subcutaneous injection.1 RT-114 achieved bioavailability greater than 150% relative to the matched subcutaneous dose, and elimination half-life was similar between the two arms.1 The company said the safety and tolerability profile was consistent with the GLP-1/GLP-2 agonist class, with no serious adverse events in either arm and no adverse events tied to the capsule itself.1
Also in July 2026, Rani entered a new research collaboration with PegBio Co., Ltd. to explore oral delivery, through the RaniPill platform, of multiple candidates from PegBio's obesity and metabolic disease pipeline.1
On the balance sheet, Rani said cash, cash equivalents and marketable securities totaled $53.4 million as of June 30, 2026, up from $43.4 million at March 31, 2026,1 following a registered direct stock offering priced in May 2026 that was led by a sovereign wealth fund along with other healthcare-focused funds.1 The company said it expects cash, cash equivalents and marketable securities to fund operations at least through 2027.1
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