<span item_type="fundamental" item_id="3b34e31b5524da590c39c10571b5aacc" counter_id="ST/US/RANI" env="prod"></span><span item_type="announcement" item_id="579904013803126785" env="prod"></span><p>Revenue: As of FY2025 Q3, the actual value is USD 0, meeting the estimate of USD 0.</p><p>EPS: As of FY2025 Q3, the actual value is USD -0.12, beating the estimate of USD -0.1233.</p><p>EBIT: As of FY2025 Q3, the actual value is USD -6.6 M.</p><p></p><h3>Cash and Cash Equivalents</h3><ul><li>As of September 30, 2025, cash, cash equivalents, and marketable securities totaled $4.1 million, compared to $27.6 million as of December 31, 2024. Rani Therapeutics expects its cash, including funds from the private placement and the Chugai agreement, to be sufficient to fund operations into 2028.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1856725/000119312525269722/rani-ex99_1.htm"></span></li></ul><h3>Research and Development Expenses</h3><ul><li>For the three months ended September 30, 2025, research and development expenses were $3.2 million, a decrease from $6.2 million for the same period in 2024. The reduction was primarily due to lower compensation costs and decreased expenses related to facilities, materials, supplies, and third-party services.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1856725/000119312525269722/rani-ex99_1.htm"></span></li></ul><h3>General and Administrative Expenses</h3><ul><li>General and administrative expenses for the three months ended September 30, 2025 were $4.0 million, down from $5.6 million for the same period in 2024. This decrease was mainly due to reduced compensation costs and third-party services.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1856725/000119312525269722/rani-ex99_1.htm"></span></li></ul><h3>Net Loss</h3><ul><li>The net loss for the three months ended September 30, 2025 was $7.9 million, compared to $12.7 million for the same period in 2024. Stock-based compensation expense was $2.3 million for the three months ended September 30, 2025, compared to $4.1 million for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1856725/000119312525269722/rani-ex99_1.htm"></span></li></ul><h3>Outlook / Guidance</h3><ul><li>Rani Therapeutics anticipates initiating a Phase 1 clinical trial for RT-114, a novel oral therapy targeting obesity, by the end of 2025. The trial will assess safety, tolerability, and pharmacokinetics, setting the stage for future development phases.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1856725/000119312525269722/rani-ex99_1.htm"></span></li></ul>

Rani Therapeutics | 8-K: FY2025 Q3 Revenue Meets Estimate at USD 0