1159 ET - Rani Therapeutics continues to take steps toward what could be a diverse pipeline of oral drugs in obesity, says Maxim Group's Michael Okunewitch in a research note. The analyst notes that two programs from the clinical stage bio-therapeutics company could be just the start of Rani's obesity strategy with potential to expand to other partnerships or even internal development programs as obesity drugs come off-patent. Okunewitch notes that given the roughly 70 million obese American adults, it's unlikely there will be a "one-drug-fits-all" approach. He adds that Rani's RT-114 is unlikely to reach the 20%+ weight reductions seen from the most potent drugs in the class but that not all users will require that magnitude of weight loss. Shares tick down 3% to $2.28. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
November 15, 2024 11:59 ET (16:59 GMT)
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