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Rani Therapeutics ( NASDAQ: RANI ) said it terminated a public offering of its common stock previously announced on Aug. 10.
The company added that current market conditions were not conducive for an offering on terms that would be in the best interests of its stockholders.
The company believes it has sufficient capital and financial flexibility to continue to fund its ongoing operations into mid-2024, Rani said in an Aug. 11 press release.