Robotic pill maker Rani pauses programs, cuts headcount to extend cash runway through 2025
Rani Therapeutics is suspending two programs and axing a third program alongside a quarter of its workforce as part of a strategic reshuffling so that the company can focus on other assets and extend its cash runway.
The robotic pill company will slash its workforce by 25% and discontinue its Phase I program, RT-101, for neuroendocrine tumors and acromegaly. Rani had 163 employees as of Dec. 31 last year, as per an SEC filing.
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