$RANI
Rani Therapeutics Holdings, Inc.

2023 Q3 Form 10-Q Financial Statement

#000095017023061137 Filed on November 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2022 Q4
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.640M $7.096M
YoY Change -8.27% 19.36%
% of Gross Profit
Research & Development $11.22M $10.39M
YoY Change 23.26% 40.03%
% of Gross Profit
Depreciation & Amortization $220.0K $174.0K
YoY Change 56.03% 53.98%
% of Gross Profit
Operating Expenses $17.86M $17.48M
YoY Change 9.26% 30.83%
Operating Profit -$17.86M
YoY Change 9.26%
Interest Expense $1.316M $99.00K
YoY Change 273.86% 482.35%
% of Operating Profit
Other Income/Expense, Net $0.00
YoY Change
Pretax Income -$18.33M -$17.38M
YoY Change 12.36% 30.26%
Income Tax $0.00 -$41.00K
% Of Pretax Income
Net Earnings -$9.197M -$8.786M
YoY Change 15.61% 69.32%
Net Earnings / Revenue
Basic Earnings Per Share $0.36
Diluted Earnings Per Share $0.36 -$0.18
COMMON SHARES
Basic Shares Outstanding 25.55M
Diluted Shares Outstanding 25.55M

Balance Sheet

Concept 2023 Q3 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $60.53M $98.48M
YoY Change -38.35% -16.15%
Cash & Equivalents $4.972M $27.01M
Short-Term Investments $55.55M $71.48M
Other Short-Term Assets $2.700M $2.442M
YoY Change 5.92% 14.01%
Inventory
Prepaid Expenses $2.696M $1.942M
Receivables
Other Receivables
Total Short-Term Assets $63.22M $100.9M
YoY Change -37.23% -15.61%
LONG-TERM ASSETS
Property, Plant & Equipment $6.255M $6.038M
YoY Change 10.12% 30.92%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $7.214M $7.103M
YoY Change -3.58% 54.01%
TOTAL ASSETS
Total Short-Term Assets $63.22M $100.9M
Total Long-Term Assets $7.214M $7.103M
Total Assets $70.44M $108.0M
YoY Change -34.9% -13.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.405M $1.460M
YoY Change -21.51% 35.19%
Accrued Expenses $4.700M $2.296M
YoY Change 7.87% 60.11%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.222M $0.00
YoY Change
Total Short-Term Liabilities $7.345M $4.815M
YoY Change 2.21% 82.39%
LONG-TERM LIABILITIES
Long-Term Debt $28.10M $29.15M
YoY Change 99.43%
Other Long-Term Liabilities $200.0K $59.00K
YoY Change -37.11%
Total Long-Term Liabilities $28.10M $29.15M
YoY Change 99.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.345M $4.815M
Total Long-Term Liabilities $28.10M $29.15M
Total Liabilities $35.62M $34.02M
YoY Change 64.93% 1188.75%
SHAREHOLDERS EQUITY
Retained Earnings -$65.80M -$38.90M
YoY Change 118.6% 366.93%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $17.55M $36.86M
YoY Change
Total Liabilities & Shareholders Equity $70.44M $108.0M
YoY Change -34.9% -13.03%

Cashflow Statement

Concept 2023 Q3 2022 Q4
OPERATING ACTIVITIES
Net Income -$9.197M -$8.786M
YoY Change 15.61% 69.32%
Depreciation, Depletion And Amortization $220.0K $174.0K
YoY Change 56.03% 53.98%
Cash From Operating Activities -$14.30M -$14.63M
YoY Change 17.23% 27.78%
INVESTING ACTIVITIES
Capital Expenditures $480.0K $530.0K
YoY Change -205.26% -295.57%
Acquisitions
YoY Change
Other Investing Activities $12.15M $73.00K
YoY Change -117.14%
Cash From Investing Activities $11.68M -$457.0K
YoY Change -116.37% 68.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 50.00K 14.87M
YoY Change -99.64% -2709.47%
NET CHANGE
Cash From Operating Activities -14.30M -14.63M
Cash From Investing Activities 11.68M -457.0K
Cash From Financing Activities 50.00K 14.87M
Net Change In Cash -2.570M -212.0K
YoY Change -96.3% -98.28%
FREE CASH FLOW
Cash From Operating Activities -$14.30M -$14.63M
Capital Expenditures $480.0K $530.0K
Free Cash Flow -$14.78M -$15.16M
YoY Change 25.87% 35.61%

Facts In Submission

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us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
528000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
174000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
1851000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
210000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
66000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
117000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
68000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
377000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1628000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2390000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-780000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-528000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
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us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
0
us-gaap Payments To Acquire Marketable Securities
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us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
16586000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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rani Proceeds From Issuance Of Common Stock Under The Employee Stock Purchase Plan
ProceedsFromIssuanceOfCommonStockUnderTheEmployeeStockPurchasePlan
219000
rani Proceeds From Issuance Of Common Stock Under The Employee Stock Purchase Plan
ProceedsFromIssuanceOfCommonStockUnderTheEmployeeStockPurchasePlan
0
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
80000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
194000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
162000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
626000
us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet
0
us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet
14671000
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
0
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
108000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
137000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
14131000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-22035000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
27507000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
117453000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5472000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
27719000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
578000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
514000
CY2023Q3 us-gaap Prepaid Interest
PrepaidInterest
188000
CY2022Q3 us-gaap Prepaid Interest
PrepaidInterest
30000
rani Exchanges Of Paired Interests And Non Corresponding Class A Units
ExchangesOfPairedInterestsAndNonCorrespondingClassAUnits
169000
rani Exchanges Of Paired Interests And Non Corresponding Class A Units
ExchangesOfPairedInterestsAndNonCorrespondingClassAUnits
74790000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
250000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
352000
rani Issuance Costs Deducted From Long Term Debt Proceeds
IssuanceCostsDeductedFromLongTermDebtProceeds
0
rani Issuance Costs Deducted From Long Term Debt Proceeds
IssuanceCostsDeductedFromLongTermDebtProceeds
928000
rani Deferred Financing Costs Included In Prepaid Expenses
DeferredFinancingCostsIncludedInPrepaidExpenses
0
rani Deferred Financing Costs Included In Prepaid Expenses
DeferredFinancingCostsIncludedInPrepaidExpenses
260000
rani Deferred Financing Costs Included In Accrued Expenses
DeferredFinancingCostsIncludedInAccruedExpenses
0
rani Deferred Financing Costs Included In Accrued Expenses
DeferredFinancingCostsIncludedInAccruedExpenses
152000
rani Issuance Costs Included In Accrued Expenses
IssuanceCostsIncludedInAccruedExpenses
0
rani Issuance Costs Included In Accrued Expenses
IssuanceCostsIncludedInAccruedExpenses
97000
us-gaap Profit Loss
ProfitLoss
-53800000
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-65800000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-38800000
CY2023Q3 rani Cash Cash Equivalents Restricted Cash Equivalents And Marketable Securities
CashCashEquivalentsRestrictedCashEquivalentsAndMarketableSecurities
60500000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:48.95pt;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses and the disclosure of contingent assets and liabilities in the Company’s condensed consolidated financial statements and accompanying notes. The Company evaluates its estimates on an ongoing basis. The Company bases its estimates on its historical experience and also on assumptions that we believe are reasonable; however, actual results may differ materially and adversely from these estimates.</span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentrations of Credit Risk and Other Risks and Uncertainties</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:48.95pt;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains accounts in federally insured financial institutions in excess of federally insured limits. The Company also holds money market funds that are not federally insured. However, management believes the Company is not exposed to significant credit risk due to the financial strength of the depository institutions in which these deposits are held and of the money market funds and other entities in which these investments are made.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4972000
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
27219000
CY2023Q3 us-gaap Restricted Cash Equivalents
RestrictedCashEquivalents
500000
CY2022Q3 us-gaap Restricted Cash Equivalents
RestrictedCashEquivalents
500000
CY2023Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
5472000
CY2022Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
27719000
CY2023Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
60116000
us-gaap Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
0
CY2023Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
60031000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
97437000
CY2022 us-gaap Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
0
CY2022 us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
149000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
97288000
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y1M6D
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y4M24D
CY2023Q3 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
1984000
CY2022Q4 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
394000
CY2023Q3 rani Accrued Preclinical And Clinical Trial Costs1
AccruedPreclinicalAndClinicalTrialCosts1
857000
CY2022Q4 rani Accrued Preclinical And Clinical Trial Costs1
AccruedPreclinicalAndClinicalTrialCosts1
1130000
CY2023Q3 rani Accrued Interest
AccruedInterest
392000
CY2022Q4 rani Accrued Interest
AccruedInterest
69000
CY2023Q3 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
370000
CY2022Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
165000
CY2023Q3 rani Related Party Payable Cureent Liabilities
RelatedPartyPayableCureentLiabilities
0
CY2022Q4 rani Related Party Payable Cureent Liabilities
RelatedPartyPayableCureentLiabilities
53000
CY2023Q3 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
327000
CY2022Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
538000
CY2023Q3 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
3930000
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
2349000
us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
The Rani LLC-ICL Service Agreement has a twelve-month term and will automatically renew for successive twelve-month periods unless terminated; except that the Occupancy Services in Milpitas, California have a term until February 2024, following an extension granted in July 2022, and the Occupancy Services in San Antonio, Texas continue until either party gives six months’ notice of termination.
rani Service Agreement Term
ServiceAgreementTerm
pursuant to which ICL agreed to rent a specified portion of its facility in San Jose, California to RMS. Additionally, RMS and ICL agreed to provide personnel services to the other upon requests based on rates specified in the RMS-ICL Service Agreement. In April 2022, RMS assigned the RMS-ICL Service
rani Aggregate Desired Patent Acquisition
AggregateDesiredPatentAcquisition
1000000
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.104
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.069
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
263000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
749000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1012000
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
53000
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
959000
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
788000
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
171000
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.79
CY2022Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
15000000
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.001548
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
5000000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
15000000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
10000000
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
30000000
CY2023Q3 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
-677000
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
29323000
CY2023Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
1222000
CY2023Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
28101000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0024
CY2023Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
18800000
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
33851000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
30665000
CY2023Q4 rani Initial Term Leases Agreement
InitialTermLeasesAgreement
The initial term of the Lease will commence on February 1, 2024, and the duration of the initial term will be 63 months. If the premises are not delivered on or before March 1, 2024, Rani LLC may terminate the Lease, subject to certain conditions that could delay such date to March 31, 2024. Subject to certain conditions, Rani LLC will have an option to renew the Lease for one additional 5-year term at the then-prevailing market rate. The monthly base rent for the initial term of the Lease will be $95,019.00 per month, subject to a 4% increase each year

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