Following this acquisition, McKinley directly owns 17,960 shares of Rani Therapeutics. This purchase reflects McKinley's ongoing involvement and investment in the company, which specializes in pharmaceutical preparations and currently maintains a market capitalization of $91.31 million. The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission. InvestingPro subscribers have access to 11 additional investment tips and comprehensive financial analysis for RANI.
Following this acquisition, McKinley directly owns 17,960 shares of Rani Therapeutics. This purchase reflects McKinley's ongoing involvement and investment in the company, which specializes in pharmaceutical preparations and currently maintains a market capitalization of $91.31 million. The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission. InvestingPro subscribers have access to 11 additional investment tips and comprehensive financial analysis for RANI.
In other recent news, Rani Therapeutics has seen a flurry of activity. The company reported a Q2 net loss of $0.51 per share, aligning with expectations. On the financial front, Rani Therapeutics secured approximately $10 million through a registered direct offering, which is expected to bolster the continued development of its RaniPill capsule technology.
The company also announced a collaboration with South Korean biotech firm, ProGen Co., Ltd., to co-develop and commercialize RT-114, an oral therapeutic for obesity. In the realm of personnel changes, Rani Therapeutics appointed Marcum LLP as its new independent registered public accounting firm, replacing Ernst & Young LLP.
In addition, Rani Therapeutics has been the recipient of a Buy rating from H.C. Wainwright, Stifel, and Canaccord Genuity. This follows encouraging preclinical pharmacokinetic data for its obesity treatment candidate, which uses a delivery method akin to the company's proprietary RaniPill technology. The company's focus on developing its pipeline and the positive preclinical results have contributed to the analysts' confidence in Rani's potential.
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